C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Position Boosted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 542.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,201 shares of the transportation company’s stock after buying an additional 2,703 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in C.H. Robinson Worldwide were worth $353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB bought a new stake in shares of C.H. Robinson Worldwide in the 1st quarter valued at approximately $1,051,000. Chesapeake Capital Corp IL acquired a new position in shares of C.H. Robinson Worldwide in the 3rd quarter valued at about $835,000. abrdn plc grew its position in shares of C.H. Robinson Worldwide by 2.6% during the 3rd quarter. abrdn plc now owns 508,803 shares of the transportation company’s stock valued at $55,818,000 after buying an additional 12,992 shares during the last quarter. Cetera Advisors LLC bought a new position in C.H. Robinson Worldwide in the first quarter worth about $6,665,000. Finally, Forsta AP Fonden boosted its stake in C.H. Robinson Worldwide by 113.2% in the third quarter. Forsta AP Fonden now owns 82,500 shares of the transportation company’s stock valued at $9,106,000 after acquiring an additional 43,800 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

C.H. Robinson Worldwide Trading Down 1.1 %

Shares of NASDAQ:CHRW opened at $106.36 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $12.57 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 1.23 and a beta of 0.84. The company has a 50 day moving average price of $107.74 and a 200 day moving average price of $97.31. C.H. Robinson Worldwide, Inc. has a 1-year low of $65.00 and a 1-year high of $113.10.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its earnings results on Wednesday, October 30th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $4.53 billion. During the same period in the previous year, the business earned $0.84 EPS. The company’s revenue was up 7.0% on a year-over-year basis. On average, research analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.4 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, December 6th. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is presently 85.81%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup lowered C.H. Robinson Worldwide from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. TD Cowen increased their price objective on shares of C.H. Robinson Worldwide from $103.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. BMO Capital Markets boosted their target price on shares of C.H. Robinson Worldwide from $92.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. UBS Group raised C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and lifted their price target for the company from $100.00 to $140.00 in a report on Friday, October 4th. Finally, Wells Fargo & Company raised their target price on C.H. Robinson Worldwide from $94.00 to $106.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.63.

Insider Activity

In related news, insider Michael John Short sold 10,408 shares of the business’s stock in a transaction that occurred on 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. The trade was a 12.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.18% of the stock is owned by corporate insiders.

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.