Oppenheimer Asset Management Inc. Sells 33,630 Shares of C.H. Robinson Worldwide, Inc. $CHRW

Oppenheimer Asset Management Inc. reduced its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 31.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,207 shares of the transportation company’s stock after selling 33,630 shares during the period. Oppenheimer Asset Management Inc. owned 0.06% of C.H. Robinson Worldwide worth $9,560,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new stake in shares of C.H. Robinson Worldwide in the 2nd quarter worth approximately $118,976,000. Boston Partners boosted its holdings in C.H. Robinson Worldwide by 53.0% in the second quarter. Boston Partners now owns 3,518,118 shares of the transportation company’s stock worth $340,646,000 after purchasing an additional 1,218,968 shares during the last quarter. Bank of New York Mellon Corp grew its position in C.H. Robinson Worldwide by 78.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,013,745 shares of the transportation company’s stock worth $193,219,000 after purchasing an additional 884,160 shares during the period. Qube Research & Technologies Ltd raised its stake in C.H. Robinson Worldwide by 119.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 793,841 shares of the transportation company’s stock valued at $76,169,000 after buying an additional 432,406 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of C.H. Robinson Worldwide by 5.7% during the 2nd quarter. State Street Corp now owns 7,420,768 shares of the transportation company’s stock valued at $716,423,000 after buying an additional 397,177 shares during the period. Institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Stock Down 0.1%

CHRW stock opened at $200.31 on Tuesday. The business’s 50-day moving average price is $171.57 and its 200-day moving average price is $146.35. The stock has a market cap of $23.66 billion, a P/E ratio of 41.47, a PEG ratio of 2.11 and a beta of 0.89. The company has a quick ratio of 1.59, a current ratio of 1.53 and a debt-to-equity ratio of 0.59. C.H. Robinson Worldwide, Inc. has a twelve month low of $84.68 and a twelve month high of $203.34.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its earnings results on Wednesday, January 28th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.11. The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.97 billion. C.H. Robinson Worldwide had a net margin of 3.62% and a return on equity of 34.24%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.21 EPS. On average, equities research analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.83 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 6th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, March 6th. C.H. Robinson Worldwide’s dividend payout ratio is presently 52.17%.

Insider Transactions at C.H. Robinson Worldwide

In related news, insider Michael D. Castagnetto sold 2,849 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $194.20, for a total transaction of $553,275.80. Following the sale, the insider owned 28,149 shares of the company’s stock, valued at approximately $5,466,535.80. This trade represents a 9.19% 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 John Short sold 1,230 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $175.00, for a total value of $215,250.00. Following the completion of the transaction, the insider directly owned 53,928 shares in the company, valued at approximately $9,437,400. This represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 6,469 shares of company stock worth $1,155,491. Insiders own 0.91% of the company’s stock.

Analyst Ratings Changes

CHRW has been the subject of several research analyst reports. Robert W. Baird set a $203.00 price objective on C.H. Robinson Worldwide in a report on Thursday, January 29th. Weiss Ratings raised C.H. Robinson Worldwide from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $200.00 price target on shares of C.H. Robinson Worldwide in a research report on Thursday, January 29th. Stifel Nicolaus raised their price objective on shares of C.H. Robinson Worldwide from $184.00 to $202.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, TD Cowen boosted their target price on shares of C.H. Robinson Worldwide from $165.00 to $194.00 and gave the company a “hold” rating in a research report on Thursday, January 29th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.29.

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.