Westfield Capital Management Co. LP Purchases Shares of 550,825 C.H. Robinson Worldwide, Inc. $CHRW

Westfield Capital Management Co. LP acquired a new stake in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 550,825 shares of the transportation company’s stock, valued at approximately $72,929,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transcend Capital Advisors LLC purchased a new stake in shares of C.H. Robinson Worldwide in the 3rd quarter valued at $460,000. Raiffeisen Bank International AG purchased a new stake in C.H. Robinson Worldwide in the third quarter valued at $937,000. TD Waterhouse Canada Inc. lifted its holdings in shares of C.H. Robinson Worldwide by 8,726.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 17,652 shares of the transportation company’s stock valued at $2,341,000 after buying an additional 17,452 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of C.H. Robinson Worldwide by 91.8% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,774 shares of the transportation company’s stock worth $1,559,000 after buying an additional 5,634 shares during the last quarter. Finally, Norges Bank acquired a new stake in C.H. Robinson Worldwide during the second quarter worth about $118,976,000. Institutional investors and hedge funds own 93.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CHRW shares. Loop Capital set a $206.00 price target on C.H. Robinson Worldwide in a report on Monday, February 2nd. Truist Financial increased their price target on shares of C.H. Robinson Worldwide from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Robert W. Baird set a $203.00 price objective on shares of C.H. Robinson Worldwide in a report on Thursday, January 29th. Weiss Ratings lowered shares of C.H. Robinson Worldwide from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 17th. Finally, Citigroup increased their target price on shares of C.H. Robinson Worldwide from $177.00 to $202.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.29.

Insider Activity

In other news, CEO David P. Bozeman acquired 1,223 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average cost of $163.34 per share, with a total value of $199,764.82. Following the purchase, the chief executive officer owned 190,600 shares in the company, valued at $31,132,604. This trade represents a 0.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Arun Rajan acquired 605 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was purchased at an average price of $167.11 per share, for a total transaction of $101,101.55. Following the acquisition, the insider directly owned 133,656 shares in the company, valued at $22,335,254.16. This represents a 0.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 2,422 shares of company stock valued at $400,801 and sold 21,416 shares valued at $4,157,630. Company insiders own 1.47% of the company’s stock.

C.H. Robinson Worldwide Stock Down 0.8%

CHRW stock opened at $175.91 on Thursday. C.H. Robinson Worldwide, Inc. has a 52 week low of $84.68 and a 52 week high of $203.34. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.59. The firm has a 50-day simple moving average of $177.36 and a 200-day simple moving average of $152.09. The stock has a market capitalization of $20.87 billion, a P/E ratio of 36.42, a P/E/G ratio of 1.87 and a beta of 0.90.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Wednesday, January 28th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.11. C.H. Robinson Worldwide had a return on equity of 34.24% and a net margin of 3.62%.The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the firm posted $1.21 EPS. C.H. Robinson Worldwide’s revenue was down 6.5% compared to the same quarter last year. Equities analysts forecast that C.H. Robinson Worldwide, Inc. will post 4.83 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Friday, March 6th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.4%. C.H. Robinson Worldwide’s payout ratio is currently 52.17%.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc is a third-party logistics provider founded in 1905 and headquartered in Eden Prairie, Minnesota. Originally established as a produce brokerage firm, the company has since expanded its offerings to become one of the world’s largest freight and logistics intermediaries. C.H. Robinson leverages a global network of transportation providers, technology platforms, and in-house expertise to connect shippers and carriers across multiple modes of transportation.

The company’s primary services include truckload, less-than-truckload (LTL), intermodal, air and ocean freight, and managed transportation solutions.