C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Sees Significant Decrease in Short Interest

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 4,260,000 shares, a decline of 12.0% from the October 15th total of 4,840,000 shares. Currently, 3.6% of the company’s stock are short sold. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is presently 3.4 days.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CHRW. TD Cowen upped their price objective on C.H. Robinson Worldwide from $103.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Bank of America upgraded shares of C.H. Robinson Worldwide from an “underperform” rating to a “buy” rating and boosted their target price for the company from $76.00 to $99.00 in a research report on Monday, July 22nd. Wells Fargo & Company increased their price target on shares of C.H. Robinson Worldwide from $94.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Susquehanna reduced their price objective on C.H. Robinson Worldwide from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Robert W. Baird lifted their target price on C.H. Robinson Worldwide from $88.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, C.H. Robinson Worldwide has an average rating of “Hold” and an average price target of $107.63.

C.H. Robinson Worldwide Trading Down 1.2 %

CHRW stock traded down $1.29 during mid-day trading on Friday, reaching $110.19. 992,095 shares of the stock traded hands, compared to its average volume of 1,415,563. The business has a 50-day moving average price of $106.75 and a two-hundred day moving average price of $96.12. The stock has a market capitalization of $13.03 billion, a PE ratio of 38.13, a PEG ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.49 and a current ratio of 1.49. C.H. Robinson Worldwide has a one year low of $65.00 and a one year high of $113.10.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Wednesday, October 30th. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. C.H. Robinson Worldwide had a net margin of 1.96% and a return on equity of 30.38%. The company had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period in the prior year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts expect that C.H. Robinson Worldwide will post 4.37 EPS for the current year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Friday, December 6th. C.H. Robinson Worldwide’s payout ratio is currently 85.81%.

Insider Transactions at C.H. Robinson Worldwide

In related news, insider Michael John Short sold 10,408 shares of C.H. Robinson Worldwide stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $109.87, for a total value of $1,143,526.96. Following the completion of the sale, the insider now directly owns 70,943 shares in the company, valued at approximately $7,794,507.41. This trade represents a 12.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.47% of the stock is owned by insiders.

Hedge Funds Weigh In On C.H. Robinson Worldwide

Several hedge funds have recently bought and sold shares of CHRW. State Board of Administration of Florida Retirement System increased its position in C.H. Robinson Worldwide by 6.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 145,268 shares of the transportation company’s stock valued at $11,061,000 after purchasing an additional 8,449 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of C.H. Robinson Worldwide by 13.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 214,098 shares of the transportation company’s stock valued at $16,301,000 after purchasing an additional 26,156 shares during the last quarter. Mizuho Markets Americas LLC grew its stake in C.H. Robinson Worldwide by 114.7% during the 1st quarter. Mizuho Markets Americas LLC now owns 117,426 shares of the transportation company’s stock worth $8,941,000 after buying an additional 62,726 shares during the last quarter. Intech Investment Management LLC increased its position in C.H. Robinson Worldwide by 7.6% during the 1st quarter. Intech Investment Management LLC now owns 140,362 shares of the transportation company’s stock valued at $10,687,000 after buying an additional 9,922 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of C.H. Robinson Worldwide by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 14,215,203 shares of the transportation company’s stock valued at $1,082,346,000 after purchasing an additional 177,119 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

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.