Zacks Investment Research cut shares of C.H. Robinson Worldwide (NASDAQ:CHRW) from a buy rating to a hold rating in a research note issued to investors on Monday.
According to Zacks, “Shares of C.H. Robinson have outperformed its industry in the last six months. The company's efforts to expand globally through mergers are impressive. The acquisition of Milgram & Company, completed in August 2017, is likely to boost the company's global presence and will be accretive this year. The company's efforts to reward shareholders through dividends and share buy backs are also encouraging. In December 2017, the company hiked its quarterly dividend by 2.2% to 46 cents per share (or $1.84 annually). However, the company is struggling with high costs. High costs are expected to hurt the company's bottom line in the fourth-quarter as was the case in the third quarter of 2017. The company's high debt levels further adds to its woes.”
A number of other analysts also recently issued reports on CHRW. Citigroup raised C.H. Robinson Worldwide from a neutral rating to a buy rating in a research report on Thursday, January 4th. Barclays lifted their target price on C.H. Robinson Worldwide from $67.00 to $70.00 and gave the company an equal weight rating in a research report on Monday, October 2nd. BMO Capital Markets downgraded C.H. Robinson Worldwide from an outperform rating to a market perform rating and lifted their target price for the company from $72.00 to $77.00 in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. KeyCorp reaffirmed a buy rating and issued a $85.00 target price on shares of C.H. Robinson Worldwide in a research report on Thursday, October 12th. Finally, Credit Suisse Group lifted their target price on C.H. Robinson Worldwide from $68.00 to $69.00 and gave the company an underperform rating in a research report on Thursday, November 2nd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $78.18.
C.H. Robinson Worldwide (NASDAQ:CHRW) last released its earnings results on Tuesday, October 31st. The transportation company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.65 billion. C.H. Robinson Worldwide had a return on equity of 36.06% and a net margin of 3.31%. C.H. Robinson Worldwide’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. research analysts anticipate that C.H. Robinson Worldwide will post 3.34 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Friday, December 15th. This is an increase from C.H. Robinson Worldwide’s previous quarterly dividend of $0.45. C.H. Robinson Worldwide’s payout ratio is 54.93%.
In other C.H. Robinson Worldwide news, VP Angela K. Freeman sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $80.64, for a total transaction of $104,832.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jordan T. Kass sold 1,738 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $78.75, for a total value of $136,867.50. Following the transaction, the insider now directly owns 24,348 shares in the company, valued at approximately $1,917,405. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,903 shares of company stock worth $1,854,925. Company insiders own 0.85% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CHRW. Vanguard Group Inc. boosted its holdings in shares of C.H. Robinson Worldwide by 1.8% during the second quarter. Vanguard Group Inc. now owns 15,399,851 shares of the transportation company’s stock worth $1,057,661,000 after acquiring an additional 270,521 shares during the period. BlackRock Inc. boosted its holdings in shares of C.H. Robinson Worldwide by 3.6% during the second quarter. BlackRock Inc. now owns 10,889,921 shares of the transportation company’s stock worth $747,922,000 after acquiring an additional 377,726 shares during the period. Capital International Investors boosted its holdings in shares of C.H. Robinson Worldwide by 5.6% during the third quarter. Capital International Investors now owns 9,166,834 shares of the transportation company’s stock worth $697,596,000 after acquiring an additional 488,372 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of C.H. Robinson Worldwide by 51.4% during the third quarter. First Eagle Investment Management LLC now owns 6,370,010 shares of the transportation company’s stock worth $484,758,000 after acquiring an additional 2,161,520 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in shares of C.H. Robinson Worldwide by 1.3% during the third quarter. Baillie Gifford & Co. now owns 5,184,766 shares of the transportation company’s stock worth $394,561,000 after acquiring an additional 68,050 shares during the period. 94.22% of the stock is currently owned by hedge funds and other institutional investors.
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About C.H. Robinson Worldwide
C.H. Robinson Worldwide, Inc is a provider of transportation services and logistics solutions through a network of offices operating in North America, Europe, Asia, Australia, New Zealand and South America. The Company’s segments include North American Surface Transportation (NAST), Global Forwarding, Robinson Fresh, and All Other and Corporate.
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