C.H. Robinson Worldwide (NASDAQ:CHRW) Given New $119.00 Price Target at Bank of America

C.H. Robinson Worldwide (NASDAQ:CHRW) had its target price lowered by Bank of America from $122.00 to $119.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

Several other equities analysts also recently commented on CHRW. TD Cowen increased their target price on C.H. Robinson Worldwide from $113.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, December 13th. Robert W. Baird raised their price objective on shares of C.H. Robinson Worldwide from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Stephens reissued an “equal weight” rating and set a $111.00 target price on shares of C.H. Robinson Worldwide in a report on Thursday, January 30th. Truist Financial assumed coverage on shares of C.H. Robinson Worldwide in a research note on Thursday, March 13th. They set a “buy” rating and a $115.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of C.H. Robinson Worldwide in a research note on Friday, March 7th. They issued a “buy” rating and a $129.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.89.

C.H. Robinson Worldwide Price Performance

CHRW stock opened at $101.13 on Friday. The stock has a market cap of $11.96 billion, a price-to-earnings ratio of 26.27, a P/E/G ratio of 1.16 and a beta of 0.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.28 and a quick ratio of 1.49. The company has a 50 day simple moving average of $100.58 and a 200 day simple moving average of $104.43. C.H. Robinson Worldwide has a 1 year low of $65.00 and a 1 year high of $114.82.

C.H. Robinson Worldwide (NASDAQ:CHRW) last announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.11. C.H. Robinson Worldwide had a net margin of 2.63% and a return on equity of 34.53%. Research analysts anticipate that C.H. Robinson Worldwide will post 4.83 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.45%. The ex-dividend date is Friday, March 7th. C.H. Robinson Worldwide’s dividend payout ratio is presently 64.42%.

Insiders Place Their Bets

In related news, insider Angela K. Freeman sold 8,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $100.39, for a total value of $803,120.00. Following the transaction, the insider now directly owns 77,027 shares in the company, valued at $7,732,740.53. This trade represents a 9.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael D. Castagnetto sold 5,016 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.60, for a total transaction of $499,593.60. Following the sale, the insider now owns 34,586 shares of the company’s stock, valued at $3,444,765.60. This trade represents a 12.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,048 shares of company stock worth $1,513,656. 1.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CHRW. National Pension Service acquired a new stake in shares of C.H. Robinson Worldwide in the 4th quarter worth about $25,000. Proficio Capital Partners LLC bought a new stake in C.H. Robinson Worldwide during the 4th quarter worth approximately $33,000. Missouri Trust & Investment Co purchased a new stake in shares of C.H. Robinson Worldwide in the fourth quarter worth approximately $41,000. Mainstream Capital Management LLC bought a new position in shares of C.H. Robinson Worldwide in the fourth quarter valued at approximately $41,000. Finally, Quarry LP boosted its position in shares of C.H. Robinson Worldwide by 76.7% during the third quarter. Quarry LP now owns 394 shares of the transportation company’s stock valued at $43,000 after buying an additional 171 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

C.H. Robinson Worldwide Company Profile

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.