Citigroup Downgrades C.H. Robinson Worldwide (NASDAQ:CHRW) to Hold

Citigroup lowered shares of C.H. Robinson Worldwide (NASDAQ:CHRW) from a strong-buy rating to a hold rating in a report issued on Friday,Zacks.com reports.

A number of other brokerages have also recently commented on CHRW. The Goldman Sachs Group lifted their price objective on C.H. Robinson Worldwide from $97.00 to $107.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. BMO Capital Markets increased their price target on shares of C.H. Robinson Worldwide from $92.00 to $115.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Robert W. Baird boosted their price objective on shares of C.H. Robinson Worldwide from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Susquehanna cut their target price on shares of C.H. Robinson Worldwide from $120.00 to $115.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Evercore ISI boosted their price target on shares of C.H. Robinson Worldwide from $112.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, C.H. Robinson Worldwide presently has a consensus rating of “Hold” and an average target price of $107.63.

C.H. Robinson Worldwide Stock Performance

Shares of NASDAQ:CHRW opened at $107.54 on Friday. The stock has a market capitalization of $12.71 billion, a P/E ratio of 37.21, a P/E/G ratio of 1.23 and a beta of 0.84. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.86. C.H. Robinson Worldwide has a 1-year low of $65.00 and a 1-year high of $113.10. The business has a 50-day moving average price of $107.74 and a two-hundred day moving average price of $97.31.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings data on Wednesday, October 30th. The transportation company reported $1.28 earnings per share 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 business 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 business posted $0.84 earnings per share. C.H. Robinson Worldwide’s revenue was up 7.0% compared to the same quarter last year. Equities analysts predict that C.H. Robinson Worldwide will post 4.4 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently declared 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 of this dividend is Friday, December 6th. This represents a $2.48 dividend on an annualized basis and a yield of 2.31%. C.H. Robinson Worldwide’s dividend payout ratio is 85.81%.

Insiders Place Their Bets

In related news, insider Michael John Short sold 10,408 shares of the firm’s 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 completion of the transaction, the insider now directly owns 70,943 shares of the company’s stock, valued at approximately $7,794,507.41. This trade represents a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.18% of the company’s stock.

Institutional Trading of C.H. Robinson Worldwide

A number of large investors have recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in shares of C.H. Robinson Worldwide in the 1st quarter valued at about $1,051,000. Chesapeake Capital Corp IL acquired a new stake in shares of C.H. Robinson Worldwide in the third quarter valued at approximately $835,000. abrdn plc boosted its stake 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 worth $55,818,000 after acquiring an additional 12,992 shares during the period. Cetera Advisors LLC acquired a new position in shares of C.H. Robinson Worldwide during the 1st quarter worth approximately $6,665,000. Finally, Forsta AP Fonden raised its stake 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 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 Company Profile

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.