Mirae Asset Global Investments Co. Ltd. Trims Position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 46.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,100 shares of the transportation company’s stock after selling 28,306 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in C.H. Robinson Worldwide were worth $2,773,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new position in shares of C.H. Robinson Worldwide during the first quarter valued at approximately $30,000. Larson Financial Group LLC purchased a new position in shares of C.H. Robinson Worldwide during the third quarter valued at approximately $31,000. Pacific Center for Financial Services purchased a new position in shares of C.H. Robinson Worldwide during the third quarter valued at approximately $34,000. Avior Wealth Management LLC increased its stake in shares of C.H. Robinson Worldwide by 71.4% during the third quarter. Avior Wealth Management LLC now owns 425 shares of the transportation company’s stock valued at $37,000 after buying an additional 177 shares during the period. Finally, Industrial Alliance Investment Management Inc. bought a new stake in shares of C.H. Robinson Worldwide during the fourth quarter valued at approximately $50,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CHRW shares. StockNews.com lowered C.H. Robinson Worldwide from a “hold” rating to a “sell” rating in a research report on Wednesday, February 28th. Bank of America dropped their price target on C.H. Robinson Worldwide from $70.00 to $68.00 and set an “underperform” rating on the stock in a research report on Monday. BNP Paribas restated a “neutral” rating and set a $76.00 price target on shares of C.H. Robinson Worldwide in a research report on Wednesday, March 27th. BMO Capital Markets dropped their price target on C.H. Robinson Worldwide from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, February 1st. Finally, Wells Fargo & Company dropped their price target on C.H. Robinson Worldwide from $80.00 to $70.00 and set an “underweight” rating on the stock in a research report on Thursday, February 1st. Seven investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, C.H. Robinson Worldwide presently has an average rating of “Hold” and an average target price of $81.21.

C.H. Robinson Worldwide Stock Up 1.5 %

CHRW stock opened at $69.87 on Friday. C.H. Robinson Worldwide, Inc. has a 1-year low of $65.00 and a 1-year high of $106.14. The business has a fifty day moving average price of $72.99 and a 200-day moving average price of $80.11. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $8.17 billion, a P/E ratio of 25.78, a P/E/G ratio of 3.49 and a beta of 0.72.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings results on Wednesday, January 31st. The transportation company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.30). C.H. Robinson Worldwide had a return on equity of 27.61% and a net margin of 1.85%. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.35 billion. Equities analysts forecast that C.H. Robinson Worldwide, Inc. will post 3.24 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Thursday, February 29th. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is presently 90.04%.

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.