Fifth Third Bancorp Sells 646 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Fifth Third Bancorp lowered its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 9.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,222 shares of the transportation company’s stock after selling 646 shares during the period. Fifth Third Bancorp’s holdings in C.H. Robinson Worldwide were worth $597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. North Capital Inc. bought a new stake in C.H. Robinson Worldwide during the 1st quarter worth $25,000. NBC Securities Inc. bought a new stake in C.H. Robinson Worldwide during the 1st quarter worth $27,000. First Financial Corp IN bought a new stake in C.H. Robinson Worldwide during the 1st quarter worth $31,000. WPG Advisers LLC bought a new stake in C.H. Robinson Worldwide during the 1st quarter worth $32,000. Finally, AdvisorNet Financial Inc grew its position in C.H. Robinson Worldwide by 252.1% during the 1st quarter. AdvisorNet Financial Inc now owns 419 shares of the transportation company’s stock worth $43,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Insider Activity at C.H. Robinson Worldwide

In related news, insider Arun Rajan sold 2,500 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $121.74, for a total value of $304,350.00. Following the completion of the sale, the insider directly owned 130,591 shares of the company’s stock, valued at $15,898,148.34. The trade was a 1.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael John Short sold 6,364 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $117.24, for a total value of $746,115.36. Following the completion of the sale, the insider directly owned 60,401 shares of the company’s stock, valued at $7,081,413.24. The trade was a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,577 shares of company stock valued at $1,714,544 in the last three months. Corporate insiders own 0.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Baird R W raised C.H. Robinson Worldwide from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 31st. Wolfe Research raised C.H. Robinson Worldwide from a “peer perform” rating to an “outperform” rating and set a $112.00 target price on the stock in a report on Tuesday, July 1st. Bank of America lifted their target price on C.H. Robinson Worldwide from $120.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Raymond James Financial set a $111.00 target price on C.H. Robinson Worldwide and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Finally, TD Cowen lifted their target price on C.H. Robinson Worldwide from $112.00 to $116.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.38.

C.H. Robinson Worldwide Stock Performance

Shares of C.H. Robinson Worldwide stock opened at $131.87 on Tuesday. C.H. Robinson Worldwide, Inc. has a one year low of $84.68 and a one year high of $138.00. The firm has a market capitalization of $15.57 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.07 and a beta of 0.87. The business has a 50-day simple moving average of $122.58 and a 200 day simple moving average of $104.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.31.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.12. C.H. Robinson Worldwide had a return on equity of 35.01% and a net margin of 3.14%.The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period in the previous year, the company posted $1.15 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. On average, research analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. C.H. Robinson Worldwide’s payout ratio is presently 56.49%.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services in the United States and internationally. It operates through two segments: North American Surface Transportation and Global Forwarding. The company offers transportation and logistics services, such as truckload, less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprises the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel operating common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.