Lord Abbett & CO. LLC Buys New Shares in C.H. Robinson Worldwide, Inc. $CHRW

Lord Abbett & CO. LLC bought a new stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 463,569 shares of the transportation company’s stock, valued at approximately $74,523,000. Lord Abbett & CO. LLC owned approximately 0.39% of C.H. Robinson Worldwide as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CHRW. Wellington Management Group LLP lifted its stake in C.H. Robinson Worldwide by 198.6% in the 3rd quarter. Wellington Management Group LLP now owns 7,143,297 shares of the transportation company’s stock worth $945,773,000 after purchasing an additional 4,751,034 shares in the last quarter. Norges Bank purchased a new stake in C.H. Robinson Worldwide in the 4th quarter worth $236,665,000. Capital World Investors purchased a new stake in C.H. Robinson Worldwide in the 4th quarter worth $165,976,000. Pinebridge Investments LLC purchased a new stake in C.H. Robinson Worldwide in the 4th quarter worth $103,751,000. Finally, Westfield Capital Management Co. LP purchased a new stake in C.H. Robinson Worldwide in the 3rd quarter worth $72,929,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Stock Performance

C.H. Robinson Worldwide stock opened at $193.74 on Friday. The company’s 50-day moving average price is $176.44 and its 200-day moving average price is $174.12. C.H. Robinson Worldwide, Inc. has a twelve month low of $92.36 and a twelve month high of $203.34. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. The company has a market cap of $22.84 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 1.65 and a beta of 0.91.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.11. C.H. Robinson Worldwide had a net margin of 3.70% and a return on equity of 35.49%. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the firm posted $1.17 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. On average, equities research analysts forecast that C.H. Robinson Worldwide, Inc. will post 6.09 EPS for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be issued a $0.63 dividend. The ex-dividend date is Friday, June 5th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.3%. C.H. Robinson Worldwide’s payout ratio is 51.01%.

Analyst Upgrades and Downgrades

Several analysts have commented on CHRW shares. Robert W. Baird set a $230.00 price target on shares of C.H. Robinson Worldwide in a research note on Friday, May 1st. Bank of America decreased their price target on shares of C.H. Robinson Worldwide from $225.00 to $219.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Jefferies Financial Group upgraded shares of C.H. Robinson Worldwide from a “hold” rating to a “buy” rating and boosted their price target for the stock from $195.00 to $200.00 in a research note on Wednesday, May 20th. TD Cowen boosted their price target on shares of C.H. Robinson Worldwide from $194.00 to $196.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Finally, Barclays boosted their price target on shares of C.H. Robinson Worldwide from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Seventeen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, C.H. Robinson Worldwide currently has an average rating of “Moderate Buy” and a consensus target price of $195.65.

C.H. Robinson Worldwide Profile

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.