Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on several financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) based on that data.
C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) has experienced an increase in hedge fund interest recently. CHRW was in 24 hedge funds’ portfolios at the end of the third quarter of 2016. There were 19 hedge funds in our database with CHRW holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Pearson PLC (ADR) (NYSE:PSO), Citizens Financial Group Inc (NYSE:CFG), and Pentair, Ltd. Registered Share (NYSE:PNR) to gather more data points.
Follow C. H. Robinson Worldwide Inc. (NASDAQ:CHRW)
Follow C. H. Robinson Worldwide Inc. (NASDAQ:CHRW)
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
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With all of this in mind, let’s take a look at the fresh action regarding C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW).
How are hedge funds trading C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)?
Heading into the fourth quarter of 2016, a total of 24 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 26% from the previous quarter. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were upping their holdings significantly (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Robert Joseph Caruso’s Select Equity Group has the most valuable position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW), worth close to $102.6 million, comprising 0.9% of its total 13F portfolio. The second largest stake is held by Donald Yacktman of Yacktman Asset Management, with a $72.7 million position; the fund has 0.6% of its 13F portfolio invested in the stock. Some other members of the smart money that hold long positions comprise Cliff Asness’s AQR Capital Management, Dmitry Balyasny’s Balyasny Asset Management and Jonathan Barrett and Paul Segal’s Luminus Management.
As aggregate interest increased, specific money managers have jumped into C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) headfirst. Luminus Management, managed by Jonathan Barrett and Paul Segal, established the largest position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW). Luminus Management had $38 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $7.8 million position during the quarter. The following funds were also among the new CHRW investors: Charles Davidson’s Wexford Capital, Solomon Kumin’s Folger Hill Asset Management, and Roger Ibbotson’s Zebra Capital Management.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) but similarly valued. These stocks are Pearson PLC (ADR) (NYSE:PSO), Citizens Financial Group Inc (NYSE:CFG), Pentair, Ltd. Registered Share (NYSE:PNR), and Cintas Corporation (NASDAQ:CTAS). All of these stocks’ market caps match CHRW’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| PSO | 6 | 34642 | 0 |
| CFG | 46 | 1113566 | -6 |
| PNR | 18 | 1032360 | -5 |
| CTAS | 33 | 587766 | 6 |
As you can see these stocks had an average of 25.75 hedge funds with bullish positions and the average amount invested in these stocks was $692 million. That figure was $443 million in CHRW’s case. Citizens Financial Group Inc (NYSE:CFG) is the most popular stock in this table. On the other hand Pearson PLC (ADR) (NYSE:PSO) is the least popular one with only 6 bullish hedge fund positions. C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CFG might be a better candidate to consider a long position.
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