Korea Investment CORP Sells 4,140 Shares of J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Korea Investment CORP reduced its stake in J.B. Hunt Transport Services, Inc. by 5.9%, selling 4,140 shares and owning a total of 65,782 shares valued at approximately $9.7 million at the end of the most recent quarter.
• In addition to Korea Investment CORP, several other hedge funds significantly increased their holdings in J.B. Hunt, with Summit Securities Group raising its position by 19,600% during the first quarter.
• J.B. Hunt announced a quarterly dividend of $0.44, representing a 1.2% dividend yield, to be paid on August 22nd to investors of record on August 8th.

Korea Investment CORP lowered its stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 5.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,782 shares of the transportation company's stock after selling 4,140 shares during the quarter. Korea Investment CORP owned approximately 0.07% of J.B. Hunt Transport Services worth $9,732,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Northern Trust Corp boosted its position in J.B. Hunt Transport Services by 0.6% during the 1st quarter. Northern Trust Corp now owns 800,997 shares of the transportation company's stock valued at $118,508,000 after purchasing an additional 5,142 shares during the period. Summit Securities Group LLC boosted its position in J.B. Hunt Transport Services by 19,600.0% during the 1st quarter. Summit Securities Group LLC now owns 197 shares of the transportation company's stock worth $29,000 after acquiring an additional 196 shares during the period. Northwest & Ethical Investments L.P. boosted its position in J.B. Hunt Transport Services by 42.0% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 4,329 shares of the transportation company's stock worth $640,000 after acquiring an additional 1,281 shares during the period. American Century Companies Inc. boosted its position in J.B. Hunt Transport Services by 21.8% during the 1st quarter. American Century Companies Inc. now owns 168,524 shares of the transportation company's stock worth $24,933,000 after acquiring an additional 30,151 shares during the period. Finally, Aberdeen Group plc boosted its position in J.B. Hunt Transport Services by 74.3% during the 1st quarter. Aberdeen Group plc now owns 58,392 shares of the transportation company's stock worth $8,575,000 after acquiring an additional 24,882 shares during the period. Institutional investors and hedge funds own 74.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group reiterated a "buy" rating on shares of J.B. Hunt Transport Services in a research report on Tuesday, July 8th. Baird R W upgraded J.B. Hunt Transport Services to a "strong-buy" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group set a $164.00 price objective on J.B. Hunt Transport Services in a research note on Tuesday, July 8th. 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 price objective for the company. Finally, Stifel Nicolaus cut their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, J.B. Hunt Transport Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.90.

J.B. Hunt Transport Services Trading Down 4.9%

Shares of NASDAQ JBHT traded down $7.39 during mid-day trading on Monday, hitting $142.75. 2,156,038 shares of the company traded hands, compared to its average volume of 1,129,511. The stock has a market capitalization of $13.82 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 2.31 and a beta of 1.29. J.B. Hunt Transport Services, Inc. has a 1 year low of $122.79 and a 1 year high of $200.40. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average of $146.11 and a two-hundred day moving average of $145.86.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The transportation company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.03). The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. J.B. Hunt Transport Services had a net margin of 4.59% and a return on equity of 14.26%. The firm's quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.32 earnings per share. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, August 22nd. Investors 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 1.2%. The ex-dividend date of this dividend was Friday, August 8th. J.B. Hunt Transport Services's payout ratio is presently 32.00%.

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

In other news, EVP Eric Mcgee bought 1,148 shares of the company's stock in a transaction on Monday, August 4th. The shares were bought at an average cost of $140.76 per share, with a total value of $161,592.48. Following the transaction, the executive vice president directly owned 7,397 shares in the company, valued at approximately $1,041,201.72. This trade represents a 18.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Keefauver sold 989 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $151.97, for a total value of $150,298.33. Following the completion of the transaction, the executive vice president directly owned 946 shares in the company, valued at approximately $143,763.62. The trade was a 51.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

J.B. Hunt Transport Services Profile

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.