Thrivent Financial for Lutherans Boosts Holdings in C.H. Robinson Worldwide, Inc. $CHRW

Thrivent Financial for Lutherans boosted its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 865.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,015 shares of the transportation company’s stock after acquiring an additional 42,145 shares during the period. Thrivent Financial for Lutherans’ holdings in C.H. Robinson Worldwide were worth $4,511,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CHRW. CYBER HORNET ETFs LLC acquired a new position in shares of C.H. Robinson Worldwide during the 2nd quarter worth approximately $30,000. WPG Advisers LLC acquired a new position in shares of C.H. Robinson Worldwide in the first quarter worth $32,000. MUFG Securities EMEA plc acquired a new position in shares of C.H. Robinson Worldwide in the second quarter worth $34,000. FNY Investment Advisers LLC purchased a new stake in shares of C.H. Robinson Worldwide in the second quarter valued at $38,000. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of C.H. Robinson Worldwide by 203.4% during the second quarter. Cullen Frost Bankers Inc. now owns 446 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 299 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Angela K. Freeman sold 49,884 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $149.71, for a total transaction of $7,468,133.64. Following the completion of the sale, the insider owned 65,728 shares in the company, valued at approximately $9,840,138.88. The trade was a 43.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael D. Castagnetto sold 45,266 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $151.70, for a total transaction of $6,866,852.20. Following the completion of the transaction, the insider owned 34,046 shares in the company, valued at $5,164,778.20. The trade was a 57.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. The Goldman Sachs Group upped their target price on shares of C.H. Robinson Worldwide from $117.00 to $131.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. BMO Capital Markets reissued a “market perform” rating and issued a $140.00 price objective on shares of C.H. Robinson Worldwide in a research report on Thursday, October 30th. Truist Financial raised their target price on shares of C.H. Robinson Worldwide from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Morgan Stanley boosted their price target on C.H. Robinson Worldwide from $77.00 to $85.00 and gave the company an “underweight” rating in a report on Monday, December 8th. Finally, Wells Fargo & Company raised their price objective on C.H. Robinson Worldwide from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, C.H. Robinson Worldwide has an average rating of “Moderate Buy” and an average price target of $147.48.

C.H. Robinson Worldwide Stock Performance

NASDAQ:CHRW opened at $166.46 on Friday. The company has a market cap of $19.67 billion, a P/E ratio of 33.76, a P/E/G ratio of 2.18 and a beta of 0.90. The firm’s 50 day moving average is $148.19 and its two-hundred day moving average is $125.87. C.H. Robinson Worldwide, Inc. has a fifty-two week low of $84.68 and a fifty-two week high of $167.10. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.64.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.11. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.26 billion. C.H. Robinson Worldwide had a return on equity of 34.77% and a net margin of 3.64%.The business’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 EPS. Analysts expect that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current year.

C.H. Robinson Worldwide Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 5th will be issued a $0.63 dividend. This is a positive change from C.H. Robinson Worldwide’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, December 5th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.5%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is 51.12%.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc is a third-party logistics provider founded in 1905 and headquartered in Eden Prairie, Minnesota. Originally established as a produce brokerage firm, the company has since expanded its offerings to become one of the world’s largest freight and logistics intermediaries. C.H. Robinson leverages a global network of transportation providers, technology platforms, and in-house expertise to connect shippers and carriers across multiple modes of transportation.

The company’s primary services include truckload, less-than-truckload (LTL), intermodal, air and ocean freight, and managed transportation solutions.