C.H. Robinson Worldwide (NASDAQ:CHRW) Stock Price Down 7.3% – Here’s What Happened

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)’s stock price traded down 7.3% during trading on Monday . The company traded as low as $164.99 and last traded at $164.4070. 281,453 shares changed hands during trading, a decline of 87% from the average session volume of 2,170,802 shares. The stock had previously closed at $177.30.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley upped their price target on C.H. Robinson Worldwide from $85.00 to $90.00 and gave the stock an “underweight” rating in a research note on Thursday, January 29th. Loop Capital set a $206.00 price target on C.H. Robinson Worldwide in a research note on Monday, February 2nd. JPMorgan Chase & Co. upped their price target on C.H. Robinson Worldwide from $180.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Truist Financial increased their price objective on C.H. Robinson Worldwide from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Evercore increased their price objective on C.H. Robinson Worldwide from $196.00 to $219.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Fifteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, C.H. Robinson Worldwide has an average rating of “Moderate Buy” and a consensus price target of $192.27.

C.H. Robinson Worldwide Stock Performance

The firm has a market capitalization of $19.87 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 1.67 and a beta of 0.94. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.59 and a quick ratio of 1.53. The firm has a 50 day moving average price of $175.19 and a 200-day moving average price of $167.93.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.24 by $0.11. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.05 billion. C.H. Robinson Worldwide had a return on equity of 35.49% and a net margin of 3.70%.C.H. Robinson Worldwide’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.17 earnings per share. As a group, sell-side analysts expect that C.H. Robinson Worldwide, Inc. will post 6.07 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Friday, March 6th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, March 6th. C.H. Robinson Worldwide’s dividend payout ratio is 51.01%.

Insider Transactions at C.H. Robinson Worldwide

In other C.H. Robinson Worldwide news, CEO David P. Bozeman bought 1,223 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were purchased at an average price of $163.34 per share, with a total value of $199,764.82. Following the completion of the acquisition, the chief executive officer directly owned 190,600 shares of the company’s stock, valued at $31,132,604. This represents a 0.65% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arun Rajan bought 605 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average cost of $167.11 per share, for a total transaction of $101,101.55. Following the acquisition, the insider directly owned 133,656 shares of the company’s stock, valued at $22,335,254.16. The trade was a 0.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 2,422 shares of company stock valued at $400,801 over the last ninety days. Company insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On C.H. Robinson Worldwide

Several large investors have recently bought and sold shares of the business. Bank of Jackson Hole Trust purchased a new position in shares of C.H. Robinson Worldwide during the fourth quarter worth about $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of C.H. Robinson Worldwide during the third quarter worth about $27,000. Millstone Evans Group LLC grew its holdings in shares of C.H. Robinson Worldwide by 79.8% during the first quarter. Millstone Evans Group LLC now owns 160 shares of the transportation company’s stock worth $27,000 after purchasing an additional 71 shares during the last quarter. DV Equities LLC purchased a new position in shares of C.H. Robinson Worldwide during the fourth quarter worth about $27,000. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of C.H. Robinson Worldwide during the second quarter worth about $30,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc is a third-party logistics provider founded in 1905 and headquartered in Eden Prairie, Minnesota. Originally established as a produce brokerage firm, the company has since expanded its offerings to become one of the world’s largest freight and logistics intermediaries. C.H. Robinson leverages a global network of transportation providers, technology platforms, and in-house expertise to connect shippers and carriers across multiple modes of transportation.

The company’s primary services include truckload, less-than-truckload (LTL), intermodal, air and ocean freight, and managed transportation solutions.