Knight-Swift Transportation Holdings Inc. $KNX Position Lessened by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has decreased its stake in Knight-Swift Transportation by 25.2%, owning approximately 6.89% of the company's shares after selling over 3.7 million shares in the first quarter.
• Knight-Swift recently reported $0.35 earnings per share for the last quarter, surpassing estimates and showing an increase from $0.24 EPS in the same quarter last year.
• The company declared a quarterly dividend of $0.18 per share, with a yield of 1.7% and a payout ratio of 70.59%, with the dividend set to be paid on September 22nd.

Wellington Management Group LLP trimmed its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,166,243 shares of the transportation company's stock after selling 3,770,068 shares during the period. Wellington Management Group LLP owned about 6.89% of Knight-Swift Transportation worth $485,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC raised its holdings in Knight-Swift Transportation by 9,383.3% during the first quarter. Larson Financial Group LLC now owns 569 shares of the transportation company's stock valued at $25,000 after buying an additional 563 shares in the last quarter. Brooklyn Investment Group raised its holdings in Knight-Swift Transportation by 93.4% during the first quarter. Brooklyn Investment Group now owns 642 shares of the transportation company's stock valued at $28,000 after buying an additional 310 shares in the last quarter. UMB Bank n.a. raised its holdings in Knight-Swift Transportation by 40.0% during the first quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company's stock valued at $49,000 after buying an additional 324 shares in the last quarter. Quarry LP raised its holdings in Knight-Swift Transportation by 41.6% during the fourth quarter. Quarry LP now owns 1,701 shares of the transportation company's stock valued at $90,000 after buying an additional 500 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Knight-Swift Transportation during the first quarter valued at about $111,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Knight-Swift Transportation Trading Down 0.4%

Shares of KNX opened at $42.31 on Tuesday. Knight-Swift Transportation Holdings Inc. has a 12-month low of $36.69 and a 12-month high of $61.51. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 41.48, a P/E/G ratio of 0.64 and a beta of 1.17. The stock's 50-day moving average price is $44.26 and its 200 day moving average price is $44.99.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Knight-Swift Transportation had a return on equity of 3.03% and a net margin of 2.22%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company posted $0.24 earnings per share. The company's quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. Knight-Swift Transportation's payout ratio is presently 70.59%.

Wall Street Analyst Weigh In

Several research firms have weighed in on KNX. Baird R W upgraded Knight-Swift Transportation to a "strong-buy" rating in a report on Tuesday, July 1st. TD Cowen cut their target price on Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Citigroup raised their target price on Knight-Swift Transportation from $53.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Raymond James Financial raised their target price on Knight-Swift Transportation from $50.00 to $55.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 15th. Finally, Evercore ISI dropped their price objective on Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.88.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.

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