Millrace Asset Group Inc. Purchases 3,182 Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Millrace Asset Group Inc. raised its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 20.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,471 shares of the transportation company’s stock after purchasing an additional 3,182 shares during the period. C.H. Robinson Worldwide accounts for approximately 2.1% of Millrace Asset Group Inc.’s holdings, making the stock its 13th biggest holding. Millrace Asset Group Inc.’s holdings in C.H. Robinson Worldwide were worth $2,039,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quent Capital LLC lifted its holdings in C.H. Robinson Worldwide by 94.8% in the second quarter. Quent Capital LLC now owns 300 shares of the transportation company’s stock valued at $26,000 after buying an additional 146 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of C.H. Robinson Worldwide by 168.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 295 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 185 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of C.H. Robinson Worldwide by 83.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 244 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 111 shares during the period. Eastern Bank bought a new position in shares of C.H. Robinson Worldwide in the 3rd quarter worth $54,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of C.H. Robinson Worldwide during the third quarter worth $55,000. Institutional investors own 93.15% of the company’s stock.

Insider Activity at C.H. Robinson Worldwide

In related news, insider Michael John Short sold 10,408 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 70,943 shares of the company’s stock, valued at approximately $7,794,507.41. This represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.18% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on CHRW shares. The Goldman Sachs Group increased their target price on 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. Evercore ISI increased their price target on shares of C.H. Robinson Worldwide from $112.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Barclays boosted their price objective on shares of C.H. Robinson Worldwide from $85.00 to $95.00 and gave the company an “underweight” rating in a report on Wednesday, November 13th. Susquehanna cut their target price on shares of C.H. Robinson Worldwide from $120.00 to $115.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, TD Cowen lifted 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. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $107.63.

C.H. Robinson Worldwide Stock Performance

Shares of C.H. Robinson Worldwide stock opened at $107.54 on Tuesday. 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 firm has a market cap of $12.71 billion, a price-to-earnings ratio of 37.21, a price-to-earnings-growth ratio of 1.23 and a beta of 0.84. The stock’s 50-day moving average is $107.74 and its 200-day moving average is $97.31. 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 released its earnings results on Wednesday, October 30th. The transportation company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.12 by $0.16. The firm had revenue of $4.64 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $0.84 EPS. Equities analysts predict 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.31%. The ex-dividend date is Friday, December 6th. C.H. Robinson Worldwide’s payout ratio is 85.81%.

C.H. Robinson Worldwide 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.