Empirical Capital Management LLC Sells 10,500 Shares of J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Empirical Capital Management LLC has reduced its holdings in J.B. Hunt Transport Services by 25.9%, now owning 30,000 shares worth approximately $4.44 million.
• Several analysts have reassessed J.B. Hunt's stock, with ratings ranging from "Strong Buy" to "Hold," and a consensus target price of $165.00.
• The company recently declared a quarterly dividend of $0.44, representing an annualized dividend yield of 1.2%.

Empirical Capital Management LLC lowered its position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 25.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,000 shares of the transportation company's stock after selling 10,500 shares during the quarter. J.B. Hunt Transport Services comprises 3.2% of Empirical Capital Management LLC's portfolio, making the stock its 10th largest position. Empirical Capital Management LLC's holdings in J.B. Hunt Transport Services were worth $4,439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of JBHT. Exchange Traded Concepts LLC lifted its position in shares of J.B. Hunt Transport Services by 13.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 731 shares of the transportation company's stock valued at $108,000 after acquiring an additional 85 shares during the last quarter. Man Group plc lifted its position in shares of J.B. Hunt Transport Services by 0.9% during the 4th quarter. Man Group plc now owns 11,165 shares of the transportation company's stock valued at $1,905,000 after acquiring an additional 98 shares during the last quarter. Trust Investment Advisors lifted its position in shares of J.B. Hunt Transport Services by 2.3% during the 1st quarter. Trust Investment Advisors now owns 4,697 shares of the transportation company's stock valued at $695,000 after acquiring an additional 104 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of J.B. Hunt Transport Services by 49.3% during the 1st quarter. TD Private Client Wealth LLC now owns 330 shares of the transportation company's stock valued at $49,000 after acquiring an additional 109 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of J.B. Hunt Transport Services by 22.4% during the 1st quarter. Bessemer Group Inc. now owns 656 shares of the transportation company's stock valued at $97,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 74.95% of the company's stock.

J.B. Hunt Transport Services Stock Down 2.5%

Shares of NASDAQ:JBHT traded down $3.52 during midday trading on Friday, hitting $137.93. 652,734 shares of the stock were exchanged, compared to its average volume of 1,017,997. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 0.87. J.B. Hunt Transport Services, Inc. has a 52-week low of $122.79 and a 52-week high of $200.40. The business's fifty day simple moving average is $145.66 and its two-hundred day simple moving average is $143.66. The company has a market capitalization of $13.35 billion, a PE ratio of 25.08, a P/E/G ratio of 2.18 and a beta of 1.28.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.03). J.B. Hunt Transport Services had a return on equity of 14.26% and a net margin of 4.59%.The firm had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.93 billion. During the same quarter in the prior year, the business posted $1.32 earnings per share. J.B. Hunt Transport Services's revenue was up .0% on a year-over-year basis. As a group, research analysts predict that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 8th. J.B. Hunt Transport Services's dividend payout ratio is presently 32.00%.

Wall Street Analysts Forecast Growth

JBHT has been the subject of a number of recent research reports. Truist Financial increased their price objective on J.B. Hunt Transport Services from $140.00 to $145.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. Robert W. Baird initiated coverage on J.B. Hunt Transport Services in a report on Tuesday, July 1st. They issued an "outperform" rating and a $169.00 target price for the company. Stifel Nicolaus reduced their target price on J.B. Hunt Transport Services from $150.00 to $145.00 and set a "hold" rating for the company in a report on Wednesday, July 16th. The Goldman Sachs Group set a $164.00 target price on J.B. Hunt Transport Services in a report on Tuesday, July 8th. Finally, Bank of America increased their target price on J.B. Hunt Transport Services from $166.00 to $171.00 and gave the company a "buy" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $165.00.

Insider Buying and Selling at J.B. Hunt Transport Services

In other J.B. Hunt Transport Services news, EVP David Keefauver sold 989 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $151.97, for a total transaction of $150,298.33. Following the transaction, the executive vice president directly owned 946 shares of the company's stock, valued at $143,763.62. This represents a 51.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Eric Mcgee bought 1,148 shares of the stock in a transaction on Monday, August 4th. The shares were acquired at an average cost of $140.76 per share, for a total transaction of $161,592.48. Following the completion of the transaction, the executive vice president directly owned 7,397 shares of the company's stock, valued at approximately $1,041,201.72. The trade was a 18.37% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company's stock.

About J.B. Hunt Transport Services

J.B. Hunt Transport Services, Inc provides surface transportation, delivery, and logistic services in the United States. It operates through five segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). The JBI segment offers intermodal freight solutions.