Ridgecrest Wealth Partners LLC Acquires New Shares in C.H. Robinson Worldwide, Inc. $CHRW

Ridgecrest Wealth Partners LLC acquired a new position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,961 shares of the transportation company’s stock, valued at approximately $734,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. WCM Investment Management LLC purchased a new stake in C.H. Robinson Worldwide during the first quarter worth $579,922,000. Bank of New York Mellon Corp purchased a new position in shares of C.H. Robinson Worldwide in the second quarter valued at $172,626,000. Hamlin Capital Management LLC purchased a new position in shares of C.H. Robinson Worldwide in the third quarter valued at $123,176,000. Vontobel Holding Ltd. raised its stake in shares of C.H. Robinson Worldwide by 47,894.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 831,259 shares of the transportation company’s stock worth $122,993,000 after buying an additional 829,527 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of C.H. Robinson Worldwide by 532.7% during the 1st quarter. Sei Investments Co. now owns 659,932 shares of the transportation company’s stock worth $109,594,000 after buying an additional 555,631 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHRW has been the topic of several recent research reports. Robert W. Baird decreased their price objective on shares of C.H. Robinson Worldwide from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Raymond James Financial reissued an “outperform” rating and issued a $170.00 price objective on shares of C.H. Robinson Worldwide in a research note on Thursday. Janney Montgomery Scott set a $155.00 target price on shares of C.H. Robinson Worldwide in a report on Tuesday, July 28th. Freedom Capital upgraded shares of C.H. Robinson Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Susquehanna upped their price target on shares of C.H. Robinson Worldwide from $215.00 to $226.00 and gave the company a “positive” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.00.

C.H. Robinson Worldwide Price Performance

NASDAQ:CHRW traded down $0.64 during trading hours on Monday, reaching $138.85. 1,228,658 shares of the company traded hands, compared to its average volume of 1,978,217. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.58 and a quick ratio of 1.58. The firm’s 50-day moving average is $147.20 and its 200-day moving average is $167.89. The stock has a market cap of $16.22 billion, a P/E ratio of 26.50, a P/E/G ratio of 1.16 and a beta of 0.94. C.H. Robinson Worldwide, Inc. has a 1-year low of $125.35 and a 1-year high of $210.33.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. C.H. Robinson Worldwide had a return on equity of 38.36% and a net margin of 3.73%. The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities research analysts expect that C.H. Robinson Worldwide, Inc. will post 6.26 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 4th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, September 4th. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is currently 48.09%.

C.H. Robinson Worldwide Profile

C.H. Robinson Worldwide, Inc is a global third-party logistics provider that connects shippers with transportation carriers and other supply-chain resources. The company arranges the movement of freight by truckload, less-than-truckload, intermodal, ocean and air transportation, serving businesses across a range of industries.

Its services include freight brokerage, transportation management, logistics consulting, customs and trade support, shipment tracking, and technology-enabled supply-chain solutions.