Kentucky Retirement Systems Reduces Stock Position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Kentucky Retirement Systems lowered its stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,859 shares of the transportation company’s stock after selling 474 shares during the period. Kentucky Retirement Systems’ holdings in C.H. Robinson Worldwide were worth $675,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Rodgers Brothers Inc. increased its stake in C.H. Robinson Worldwide by 12.5% in the first quarter. Rodgers Brothers Inc. now owns 39,255 shares of the transportation company’s stock valued at $2,989,000 after acquiring an additional 4,375 shares during the last quarter. Meritage Group LP increased its stake in C.H. Robinson Worldwide by 19.4% in the first quarter. Meritage Group LP now owns 4,327 shares of the transportation company’s stock valued at $329,000 after acquiring an additional 704 shares during the last quarter. Pitcairn Co. bought a new position in C.H. Robinson Worldwide in the first quarter valued at $207,000. Bessemer Group Inc. increased its stake in C.H. Robinson Worldwide by 418.5% in the first quarter. Bessemer Group Inc. now owns 15,260 shares of the transportation company’s stock valued at $1,162,000 after acquiring an additional 12,317 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new position in shares of C.H. Robinson Worldwide in the first quarter worth about $546,000. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CHRW has been the topic of several analyst reports. Evercore ISI upgraded C.H. Robinson Worldwide from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $82.00 to $99.00 in a report on Tuesday, June 25th. Wolfe Research upgraded C.H. Robinson Worldwide from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 11th. Robert W. Baird lifted their price objective on C.H. Robinson Worldwide from $80.00 to $88.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Vertical Research raised C.H. Robinson Worldwide from a “sell” rating to a “buy” rating and set a $102.00 target price on the stock in a research note on Tuesday, July 9th. Finally, Barclays raised their target price on C.H. Robinson Worldwide from $65.00 to $70.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $88.78.

C.H. Robinson Worldwide Stock Performance

CHRW traded up $0.05 during mid-day trading on Monday, reaching $89.52. 526,897 shares of the company traded hands, compared to its average volume of 1,629,672. The stock has a market capitalization of $10.48 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.35 and a beta of 0.80. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.99. The company’s fifty day moving average price is $86.80 and its 200-day moving average price is $79.93. C.H. Robinson Worldwide, Inc. has a 52-week low of $65.00 and a 52-week high of $100.88.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, May 1st. The transportation company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.26. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.27 billion. C.H. Robinson Worldwide had a net margin of 1.74% and a return on equity of 26.34%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. On average, sell-side analysts expect that C.H. Robinson Worldwide, Inc. will post 3.65 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Friday, June 7th. C.H. Robinson Worldwide’s dividend payout ratio is 96.44%.

C.H. Robinson Worldwide Profile

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.