Palisade Asset Management LLC Sells 14,955 Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Palisade Asset Management LLC cut its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 44.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,819 shares of the transportation company’s stock after selling 14,955 shares during the quarter. Palisade Asset Management LLC’s holdings in C.H. Robinson Worldwide were worth $2,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHRW. Interval Partners LP bought a new position in C.H. Robinson Worldwide in the second quarter worth $82,581,000. Point72 Asset Management L.P. bought a new stake in C.H. Robinson Worldwide in the 2nd quarter valued at $69,378,000. ProShare Advisors LLC raised its stake in shares of C.H. Robinson Worldwide by 26.3% in the 2nd quarter. ProShare Advisors LLC now owns 2,528,787 shares of the transportation company’s stock valued at $222,837,000 after buying an additional 526,872 shares in the last quarter. Citigroup Inc. boosted its position in shares of C.H. Robinson Worldwide by 137.8% during the 3rd quarter. Citigroup Inc. now owns 431,033 shares of the transportation company’s stock valued at $47,573,000 after acquiring an additional 249,774 shares in the last quarter. Finally, Vest Financial LLC boosted its position in shares of C.H. Robinson Worldwide by 44.1% during the 2nd quarter. Vest Financial LLC now owns 627,804 shares of the transportation company’s stock valued at $55,322,000 after acquiring an additional 192,205 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

C.H. Robinson Worldwide Price Performance

CHRW opened at $107.61 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market capitalization of $12.72 billion, a P/E ratio of 37.24, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. The company’s 50 day simple moving average is $107.60 and its 200-day simple moving average is $96.89. C.H. Robinson Worldwide, Inc. has a one year low of $65.00 and a one year high of $113.10.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings data on Wednesday, October 30th. The transportation company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. The firm had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.53 billion. C.H. Robinson Worldwide had a return on equity of 30.38% and a net margin of 1.96%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. Sell-side analysts anticipate that C.H. Robinson Worldwide, Inc. will post 4.4 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given 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 2.30%. C.H. Robinson Worldwide’s payout ratio is 85.81%.

Wall Street Analysts Forecast Growth

CHRW has been the subject of several recent research reports. TD Cowen increased their price target on shares of C.H. Robinson Worldwide from $103.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Citigroup raised C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $127.00 in a report on Tuesday, November 12th. Evercore ISI boosted their price target on 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. UBS Group upgraded C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $100.00 to $140.00 in a research note 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 research note on Friday, November 1st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $107.63.

Insiders Place Their Bets

In other C.H. Robinson Worldwide news, insider Michael John Short sold 10,408 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.47% of the company’s stock.

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.