C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Short Interest Update

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) saw a significant decline in short interest in 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. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 3.6% of the company’s stock are short sold.

Insiders Place Their Bets

In other news, insider Michael John Short sold 10,408 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $109.87, for a total transaction of $1,143,526.96. Following the sale, the insider now owns 70,943 shares in the company, valued at $7,794,507.41. This trade represents a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On C.H. Robinson Worldwide

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHRW. Swedbank AB bought a new position in C.H. Robinson Worldwide during the 1st quarter valued at $1,051,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in C.H. Robinson Worldwide by 13.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 214,098 shares of the transportation company’s stock valued at $16,301,000 after buying an additional 26,156 shares during the period. abrdn plc lifted its position in shares of C.H. Robinson Worldwide by 2.6% in the third quarter. abrdn plc now owns 508,803 shares of the transportation company’s stock worth $55,818,000 after purchasing an additional 12,992 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of C.H. Robinson Worldwide during the 1st quarter valued at $6,665,000. Finally, Forsta AP Fonden increased its position in C.H. Robinson Worldwide by 113.2% in the 3rd quarter. Forsta AP Fonden now owns 82,500 shares of the transportation company’s stock worth $9,106,000 after purchasing an additional 43,800 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

C.H. Robinson Worldwide Stock Performance

CHRW stock traded down $1.29 during midday trading on Friday, reaching $110.19. The company had a trading volume of 992,095 shares, compared to its average volume of 1,415,563. The firm has a market capitalization of $13.03 billion, a PE ratio of 38.13, a P/E/G ratio of 1.27 and a beta of 0.84. The stock has a 50 day moving average price of $106.75 and a 200 day moving average price of $95.95. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.86. C.H. Robinson Worldwide has a fifty-two week low of $65.00 and a fifty-two week high of $113.10.

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

C.H. Robinson Worldwide Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CHRW shares. Citigroup upgraded C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $127.00 in a research note on Tuesday, November 12th. BMO Capital Markets raised their price objective on 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. Benchmark upped their target price on C.H. Robinson Worldwide from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird raised their price target on shares of C.H. Robinson Worldwide from $88.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Evercore ISI lifted their price target on shares of C.H. Robinson Worldwide from $112.00 to $122.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $107.63.

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.