Shellback Capital LP Takes $7.61 Million Position in Knight-Swift Transportation Holdings Inc. $KNX

Key Points

• Shellback Capital LP has acquired a new position in Knight-Swift Transportation Holdings Inc., purchasing 175,000 shares valued at approximately $7.6 million in the first quarter.
• Goldman Sachs upgraded Knight-Swift Transportation's rating from "neutral" to "buy" and raised its price target from $45 to $65.
• The company announced a quarterly dividend of $0.18 per share, representing an annualized payout of $0.72 and a dividend yield of 1.7%.

Shellback Capital LP bought a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 175,000 shares of the transportation company's stock, valued at approximately $7,611,000. Shellback Capital LP owned 0.11% of Knight-Swift Transportation at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Benjamin Edwards Inc. boosted its stake in shares of Knight-Swift Transportation by 3.3% in the fourth quarter. Benjamin Edwards Inc. now owns 6,687 shares of the transportation company's stock valued at $355,000 after purchasing an additional 216 shares during the period. Brooklyn Investment Group boosted its stake in shares of Knight-Swift Transportation by 93.4% in the first quarter. Brooklyn Investment Group now owns 642 shares of the transportation company's stock valued at $28,000 after purchasing an additional 310 shares during the period. UMB Bank n.a. boosted its stake in shares of Knight-Swift Transportation by 40.0% in the first quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company's stock valued at $49,000 after purchasing an additional 324 shares during the period. Tectonic Advisors LLC boosted its stake in shares of Knight-Swift Transportation by 0.6% in the first quarter. Tectonic Advisors LLC now owns 62,715 shares of the transportation company's stock valued at $2,727,000 after purchasing an additional 403 shares during the period. Finally, Silvercrest Asset Management Group LLC boosted its stake in shares of Knight-Swift Transportation by 6.6% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 7,371 shares of the transportation company's stock valued at $391,000 after purchasing an additional 459 shares during the period. Hedge funds and other institutional investors own 88.77% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on KNX. JPMorgan Chase & Co. raised their price objective on shares of Knight-Swift Transportation from $45.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Robert W. Baird raised their price objective on shares of Knight-Swift Transportation from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. UBS Group lowered shares of Knight-Swift Transportation from a "buy" rating to a "neutral" rating and raised their price objective for the company from $46.00 to $51.00 in a research note on Friday, September 5th. Susquehanna raised their price objective on shares of Knight-Swift Transportation from $45.00 to $52.00 and gave the company a "positive" rating in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company raised their price objective on shares of Knight-Swift Transportation from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.19.

Insiders Place Their Bets

In other Knight-Swift Transportation news, EVP Michael K. Liu sold 3,420 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $43.41, for a total transaction of $148,462.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.00% of the company's stock.

Knight-Swift Transportation Stock Down 2.1%

KNX stock traded down $0.90 during midday trading on Friday, reaching $42.06. 754,067 shares of the company were exchanged, compared to its average volume of 2,811,282. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.89 and a current ratio of 0.89. Knight-Swift Transportation Holdings Inc. has a 1-year low of $36.69 and a 1-year high of $61.51. The stock's 50-day simple moving average is $43.96 and its 200 day simple moving average is $43.78. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 0.62 and a beta of 1.19.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Knight-Swift Transportation had a net margin of 2.22% and a return on equity of 3.03%. The company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter last year, the company earned $0.24 earnings per share. The firm's revenue for the quarter was up .8% on a year-over-year basis. Knight-Swift Transportation has set its Q3 2025 guidance at 0.360-0.420 EPS. On average, equities analysts forecast 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.7%. Knight-Swift Transportation's dividend payout ratio (DPR) is presently 70.59%.

Knight-Swift Transportation Company Profile

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.