5 Safe Stocks to Buy During Recessions

2. C.H. Robinson Worldwide, Inc. (NYSE:CHRW)

Number of Hedge Fund Holders: 23

C.H. Robinson Worldwide, Inc. (NYSE:CHRW) is an Eden Prairie, Minnesota-based third-party logistics provider (3PL), serving different industries across the globe.

The company is exploring autonomous driving to counter the problem of driver shortages and hauling capacity restraints. C.H. Robinson Worldwide, Inc. (NYSE:CHRW) has formed a long-term strategic partnership with Alphabet Inc’s (NASDAQ:GOOGL) Waymo. Under this partnership, Waymo’s autonomous driving platform will be integrated with C.H. Robinson Worldwide, Inc.’s (NYSE:CHRW) Navisphere technology. If the partnership is executed successfully, it will provide a significant boost to the company’s margins.

The analysts are also bullish on C.H. Robinson Worldwide, Inc. (NYSE:CHRW) as Jason Seidl at Cowen increased the target price on the stock from $109 to $123 and reiterated an Outperform rating. The analyst highlighted that C.H. Robinson Worldwide, Inc. (NYSE:CHRW) had found itself in a sweet spot in the brokerage space.

Overall, 23 hedge funds held a stake in C.H. Robinson Worldwide, Inc. (NYSE:CHRW) at the end of Q1 2022.