Geode Capital Management LLC Sells 49,962 Shares of Knight-Swift Transportation Holdings Inc. $KNX

Key Points

• Geode Capital Management reduced its Knight-Swift Transportation stake by 1.7% in the fourth quarter, selling 49,962 shares and ending with 2.87 million shares worth about $150.1 million.
• Knight-Swift reported mixed quarterly results, with EPS of $0.09 missing expectations of $0.29 while revenue came in at $1.85 billion, roughly in line with estimates and up 1.4% year over year.
• The company declared a quarterly dividend of $0.20 per share payable June 22, and analysts remain broadly positive with a consensus Moderate Buy rating and an average price target of $68.88.

Geode Capital Management LLC trimmed its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,870,439 shares of the transportation company's stock after selling 49,962 shares during the quarter. Geode Capital Management LLC owned 1.77% of Knight-Swift Transportation worth $150,098,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in shares of Knight-Swift Transportation by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,496,137 shares of the transportation company's stock valued at $335,682,000 after purchasing an additional 76,342 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Knight-Swift Transportation by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,267,687 shares of the transportation company's stock valued at $326,664,000 after purchasing an additional 124,426 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Knight-Swift Transportation by 7.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,676,422 shares of the transportation company's stock valued at $244,250,000 after purchasing an additional 315,192 shares during the period. UBS Group AG raised its stake in shares of Knight-Swift Transportation by 44.3% during the 4th quarter. UBS Group AG now owns 2,430,896 shares of the transportation company's stock valued at $127,087,000 after purchasing an additional 745,787 shares during the period. Finally, Junto Capital Management LP raised its stake in shares of Knight-Swift Transportation by 252.4% during the 3rd quarter. Junto Capital Management LP now owns 2,262,145 shares of the transportation company's stock valued at $89,377,000 after purchasing an additional 1,620,224 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Knight-Swift Transportation Price Performance

Knight-Swift Transportation stock opened at $78.48 on Friday. Knight-Swift Transportation Holdings Inc. has a 52 week low of $38.63 and a 52 week high of $79.10. The business has a 50-day simple moving average of $65.19 and a 200 day simple moving average of $58.31. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. The stock has a market cap of $12.75 billion, a price-to-earnings ratio of 373.73, a PEG ratio of 1.00 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its 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 return on equity of 2.94% and a net margin of 0.45%.The business had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Knight-Swift Transportation's quarterly revenue was up 1.4% compared to the same quarter last year. On average, research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.14 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, June 8th. Knight-Swift Transportation's dividend payout ratio is presently 380.95%.

Analyst Upgrades and Downgrades

KNX has been the topic of a number of analyst reports. Robert W. Baird boosted their price objective on Knight-Swift Transportation from $62.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. TD Cowen boosted their target price on Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded Knight-Swift Transportation from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, April 15th. Barclays boosted their target price on Knight-Swift Transportation from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 4th. Finally, Evercore upgraded Knight-Swift Transportation from an "in-line" rating to an "outperform" rating and set a $65.00 target price for the company in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $68.88.

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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