C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Sees Significant Increase in Short Interest

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 4,730,000 shares, a growth of 9.0% from the November 15th total of 4,340,000 shares. Based on an average daily volume of 1,290,000 shares, the short-interest ratio is presently 3.7 days. Currently, 4.0% of the company’s stock are short sold.

C.H. Robinson Worldwide Price Performance

Shares of C.H. Robinson Worldwide stock traded down $1.50 during trading on Monday, reaching $109.88. 599,297 shares of the company’s stock were exchanged, compared to its average volume of 1,501,798. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.49 and a current ratio of 1.49. C.H. Robinson Worldwide has a 1-year low of $65.00 and a 1-year high of $114.82. The company has a market cap of $12.99 billion, a P/E ratio of 38.54, a PEG ratio of 1.25 and a beta of 0.83. The firm’s 50-day moving average price is $108.09 and its 200 day moving average price is $99.61.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its earnings results on Wednesday, October 30th. The transportation company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.12 by $0.16. C.H. Robinson Worldwide had a return on equity of 30.38% and a net margin of 1.96%. The firm had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that C.H. Robinson Worldwide will post 4.38 earnings per share for the current year.

C.H. Robinson Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 2.26%. C.H. Robinson Worldwide’s dividend payout ratio is currently 85.81%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Susquehanna dropped their price objective on C.H. Robinson Worldwide from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. The Goldman Sachs Group increased their price target 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. Stifel Nicolaus boosted their price objective on shares of C.H. Robinson Worldwide from $107.00 to $112.00 and gave the stock a “hold” rating in a research note on Monday. Wells Fargo & Company upgraded shares of C.H. Robinson Worldwide from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $118.00 to $130.00 in a research note on Monday, December 9th. Finally, TD Cowen boosted their price target on C.H. Robinson Worldwide from $113.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $112.88.

Insider Activity

In other news, insider Michael John Short sold 10,408 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $109.87, for a total value of $1,143,526.96. Following the completion of the transaction, the insider now owns 70,943 shares in the company, valued at $7,794,507.41. This trade represents a 12.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. grew its position in C.H. Robinson Worldwide by 7.1% during the 3rd quarter. D.A. Davidson & CO. now owns 6,709 shares of the transportation company’s stock worth $741,000 after acquiring an additional 443 shares during the last quarter. Chesapeake Capital Corp IL acquired a new stake in shares of C.H. Robinson Worldwide during the third quarter valued at about $835,000. abrdn plc grew its holdings in shares of C.H. Robinson Worldwide by 2.6% during the third quarter. abrdn plc now owns 508,803 shares of the transportation company’s stock worth $55,818,000 after purchasing an additional 12,992 shares during the last quarter. Forsta AP Fonden increased its stake in shares of C.H. Robinson Worldwide by 113.2% in the third quarter. Forsta AP Fonden now owns 82,500 shares of the transportation company’s stock valued at $9,106,000 after buying an additional 43,800 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in C.H. Robinson Worldwide by 62.3% in the 3rd quarter. Victory Capital Management Inc. now owns 32,158 shares of the transportation company’s stock valued at $3,549,000 after buying an additional 12,348 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.