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 stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 175,000 shares of the transportation company's stock, valued at approximately $7,611,000. Shellback Capital LP owned approximately 0.11% of Knight-Swift Transportation at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Larson Financial Group LLC increased its position 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 worth $25,000 after buying an additional 563 shares during the last quarter. Brooklyn Investment Group grew its stake in Knight-Swift Transportation by 93.4% in the 1st quarter. Brooklyn Investment Group now owns 642 shares of the transportation company's stock valued at $28,000 after buying an additional 310 shares during the last quarter. UMB Bank n.a. lifted its position in Knight-Swift Transportation by 40.0% during the 1st quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company's stock worth $49,000 after acquiring an additional 324 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Knight-Swift Transportation during the first quarter valued at about $111,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Knight-Swift Transportation in the first quarter valued at about $118,000. Institutional investors own 88.77% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on KNX. JPMorgan Chase & Co. increased their price objective on Knight-Swift Transportation from $45.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Robert W. Baird increased their price target on shares of Knight-Swift Transportation from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Wells Fargo & Company upped 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 report on Wednesday, May 28th. Baird R W raised Knight-Swift Transportation to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, Raymond James Financial upped their price target 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. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.19.

Insider Buying and Selling

In other Knight-Swift Transportation news, EVP Michael K. Liu sold 3,420 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $43.41, for a total transaction of $148,462.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.00% of the stock is currently owned by company insiders.

Knight-Swift Transportation Price Performance

Shares of KNX traded down $1.21 during mid-day trading on Wednesday, reaching $41.69. The company had a trading volume of 2,798,494 shares, compared to its average volume of 2,825,837. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $6.77 billion, a P/E ratio of 40.87, a P/E/G ratio of 0.64 and a beta of 1.19. Knight-Swift Transportation Holdings Inc. has a twelve month low of $36.69 and a twelve month high of $61.51. The company's 50-day moving average is $44.05 and its 200-day moving average is $43.84.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.87 billion. Knight-Swift Transportation had a return on equity of 3.03% and a net margin of 2.22%.The business's revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 earnings per share. Knight-Swift Transportation has set its Q3 2025 guidance at 0.360-0.420 EPS. On average, equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. Knight-Swift Transportation's dividend payout ratio (DPR) is currently 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.