Bank of New York Mellon Corp Has $72.44 Million Holdings in Knight-Swift Transportation Holdings Inc. $KNX

Key Points

• Bank of New York Mellon increased its Knight-Swift Transportation stake by 20.1% in the fourth quarter, bringing its holdings to 1,385,655 shares valued at about $72.44 million.
• Knight-Swift reported Q1 earnings of $0.09 per share, missing analyst estimates of $0.29, while revenue came in at $1.85 billion, roughly in line with expectations.
• The company announced a quarterly dividend of $0.20 per share, and analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $70.19.

Bank of New York Mellon Corp raised its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,385,655 shares of the transportation company's stock after buying an additional 231,806 shares during the period. Bank of New York Mellon Corp owned 0.85% of Knight-Swift Transportation worth $72,442,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its stake in Knight-Swift Transportation by 134.6% in the 4th quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company's stock valued at $35,000 after buying an additional 385 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Knight-Swift Transportation by 44.4% during the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company's stock valued at $45,000 after acquiring an additional 267 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Knight-Swift Transportation by 1,478.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company's stock valued at $35,000 after acquiring an additional 828 shares during the period. Farther Finance Advisors LLC grew its position in shares of Knight-Swift Transportation by 54.2% during the 4th quarter. Farther Finance Advisors LLC now owns 956 shares of the transportation company's stock valued at $50,000 after acquiring an additional 336 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Knight-Swift Transportation by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 2,495 shares of the transportation company's stock valued at $130,000 after acquiring an additional 422 shares during the period. Hedge funds and other institutional investors own 88.77% of the company's stock.

Knight-Swift Transportation Stock Down 0.3%

Shares of NYSE:KNX opened at $80.43 on Wednesday. The firm has a fifty day moving average price of $66.63 and a two-hundred day moving average price of $59.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70. Knight-Swift Transportation Holdings Inc. has a one year low of $38.63 and a one year high of $82.44. The company has a market cap of $13.07 billion, a price-to-earnings ratio of 383.03, a PEG ratio of 1.03 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the business earned $0.28 earnings per share. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. Analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.14 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Monday, June 8th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, June 8th. Knight-Swift Transportation's payout ratio is currently 380.95%.

Analyst Upgrades and Downgrades

KNX has been the subject of a number of research reports. Barclays increased their target price on shares of Knight-Swift Transportation from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, March 4th. TD Cowen increased their target price on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. UBS Group increased their target price on shares of Knight-Swift Transportation from $79.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, June 1st. Stifel Nicolaus raised their price objective on shares of Knight-Swift Transportation from $63.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Finally, Citigroup raised shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and set a $64.00 price objective for the company in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Knight-Swift Transportation presently has an average rating of "Moderate Buy" and a consensus price target of $70.19.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc NYSE: KNX is one of North America's largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company's core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.

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