Geode Capital Management LLC Increases Stock Holdings in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Geode Capital Management LLC grew its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 3,104,011 shares of the transportation company’s stock after purchasing an additional 42,189 shares during the quarter. Geode Capital Management LLC’s holdings in C.H. Robinson Worldwide were worth $341,555,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its position in C.H. Robinson Worldwide by 10.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 22,861 shares of the transportation company’s stock valued at $2,015,000 after buying an additional 2,241 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in C.H. Robinson Worldwide by 16.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,498 shares of the transportation company’s stock worth $308,000 after purchasing an additional 497 shares in the last quarter. TCW Group Inc. increased its holdings in C.H. Robinson Worldwide by 72.4% during the 2nd quarter. TCW Group Inc. now owns 25,356 shares of the transportation company’s stock worth $2,234,000 after purchasing an additional 10,647 shares during the period. MBL Wealth LLC acquired a new stake in C.H. Robinson Worldwide in the 2nd quarter valued at about $1,388,000. Finally, Accredited Investors Inc. boosted its stake in shares of C.H. Robinson Worldwide by 0.6% in the 2nd quarter. Accredited Investors Inc. now owns 80,739 shares of the transportation company’s stock valued at $7,114,000 after buying an additional 518 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

Insider Activity

In related news, insider Michael John Short sold 10,408 shares of C.H. Robinson Worldwide stock in a transaction on Monday, November 11th. The shares were sold at an average price of $109.87, for a total value of $1,143,526.96. Following the transaction, the insider now directly owns 70,943 shares in the company, valued at $7,794,507.41. This trade represents a 12.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CHRW shares. Barclays upped their target price on shares of C.H. Robinson Worldwide from $85.00 to $95.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 13th. TD Cowen increased their price objective on shares of C.H. Robinson Worldwide from $113.00 to $119.00 and gave the company a “hold” rating in a research report on Friday. BMO Capital Markets lifted their price objective on shares of C.H. Robinson Worldwide from $115.00 to $118.00 and gave the stock a “market perform” rating in a research report on Friday. Robert W. Baird raised their price target on C.H. Robinson Worldwide from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Citigroup cut C.H. Robinson Worldwide from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $111.19.

C.H. Robinson Worldwide Stock Performance

Shares of C.H. Robinson Worldwide stock opened at $111.38 on Friday. The stock has a market capitalization of $13.17 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 1.25 and a beta of 0.83. The firm’s fifty day simple moving average is $108.09 and its 200-day simple moving average is $99.41. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.49 and a quick ratio of 1.49. C.H. Robinson Worldwide, Inc. has a 12 month low of $65.00 and a 12 month high of $114.82.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, October 30th. The transportation company reported $1.28 EPS for the quarter, beating 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 business had revenue of $4.64 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the prior year, the company earned $0.84 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.38 earnings per share for the current year.

C.H. Robinson Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $0.62 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.48 annualized dividend and a dividend yield of 2.23%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is currently 85.81%.

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.