C.H. Robinson Worldwide (NASDAQ:CHRW) Shares Gap Down Following Analyst Downgrade

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) gapped down prior to trading on Thursday after Bank of America lowered their price target on the stock from $130.00 to $122.00. The stock had previously closed at $107.93, but opened at $99.60. Bank of America currently has a buy rating on the stock. C.H. Robinson Worldwide shares last traded at $103.00, with a volume of 477,971 shares trading hands.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI increased their price objective on shares of C.H. Robinson Worldwide from $112.00 to $122.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. BMO Capital Markets lifted their price target on shares of C.H. Robinson Worldwide from $115.00 to $118.00 and gave the stock a “market perform” rating in a report on Friday, December 13th. Susquehanna lowered their price target on shares of C.H. Robinson Worldwide from $130.00 to $127.00 and set a “positive” rating for the company in a report on Thursday. UBS Group upgraded shares of C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $100.00 to $140.00 in a report on Friday, October 4th. Finally, The Goldman Sachs Group boosted their target price on shares of C.H. Robinson Worldwide from $97.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $116.50.

Insider Transactions at C.H. Robinson Worldwide

In other news, insider Michael D. Castagnetto sold 2,032 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $103.81, for a total transaction of $210,941.92. Following the transaction, the insider now directly owns 34,469 shares of the company’s stock, valued at approximately $3,578,226.89. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael John Short sold 10,408 shares of C.H. Robinson Worldwide stock in a transaction on Monday, November 11th. The stock was sold at an average price of $109.87, for a total transaction of $1,143,526.96. Following the completion of the sale, the insider now 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.47% of the company’s stock.

Institutional Trading of C.H. Robinson Worldwide

A number of hedge funds and other institutional investors have recently made changes to their positions in CHRW. Van ECK Associates Corp increased its stake in C.H. Robinson Worldwide by 92,841.1% during the fourth quarter. Van ECK Associates Corp now owns 3,007,574 shares of the transportation company’s stock valued at $310,742,000 after purchasing an additional 3,004,338 shares during the last quarter. FMR LLC increased its stake in C.H. Robinson Worldwide by 2,259.1% during the third quarter. FMR LLC now owns 2,557,791 shares of the transportation company’s stock valued at $282,303,000 after purchasing an additional 2,449,367 shares during the last quarter. Citigroup Inc. increased its stake in C.H. Robinson Worldwide by 137.8% during the third quarter. Citigroup Inc. now owns 431,033 shares of the transportation company’s stock valued at $47,573,000 after purchasing an additional 249,774 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in C.H. Robinson Worldwide by 12.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,405,718 shares of the transportation company’s stock valued at $155,149,000 after purchasing an additional 153,654 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in C.H. Robinson Worldwide by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,956,219 shares of the transportation company’s stock valued at $436,648,000 after purchasing an additional 142,116 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

C.H. Robinson Worldwide Trading Down 6.9 %

The firm’s 50 day simple moving average is $105.69 and its two-hundred day simple moving average is $103.72. The stock has a market cap of $11.87 billion, a P/E ratio of 34.75, a price-to-earnings-growth ratio of 0.87 and a beta of 0.83. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.86.

C.H. Robinson Worldwide (NASDAQ:CHRW) last released its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.10 by $0.11. C.H. Robinson Worldwide had a net margin of 1.96% and a return on equity of 30.38%. As a group, equities research analysts predict that C.H. Robinson Worldwide, Inc. will post 4.39 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a dividend of $0.62 per share. The ex-dividend date was Friday, December 6th. This represents a $2.48 annualized dividend and a dividend yield of 2.47%. C.H. Robinson Worldwide’s dividend payout ratio is currently 64.42%.

About C.H. Robinson Worldwide

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.