State of Michigan Retirement System Lowers Stock Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

State of Michigan Retirement System trimmed its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,727 shares of the transportation company's stock after selling 6,904 shares during the period. State of Michigan Retirement System's holdings in Knight-Swift Transportation were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in Knight-Swift Transportation by 40.0% in the 1st 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 during the period. Quarry LP lifted its position in shares of Knight-Swift Transportation by 41.6% in the 4th quarter. Quarry LP now owns 1,701 shares of the transportation company's stock worth $90,000 after purchasing an additional 500 shares during the period. Generali Asset Management SPA SGR purchased a new stake in shares of Knight-Swift Transportation in the 4th quarter worth approximately $99,000. Quadrant Capital Group LLC lifted its position in shares of Knight-Swift Transportation by 21.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,139 shares of the transportation company's stock worth $113,000 after purchasing an additional 375 shares during the period. Finally, Allworth Financial LP lifted its position in shares of Knight-Swift Transportation by 38.6% in the 1st quarter. Allworth Financial LP now owns 3,044 shares of the transportation company's stock worth $123,000 after purchasing an additional 847 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KNX has been the subject of several research reports. Robert W. Baird initiated coverage on shares of Knight-Swift Transportation in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $55.00 price target for the company. Barclays lowered their price target on shares of Knight-Swift Transportation from $58.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. The Goldman Sachs Group raised shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and upped their price target for the stock from $45.00 to $65.00 in a research report on Monday, June 2nd. Raymond James Financial lowered their price target on shares of Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating for the company in a research report on Friday, April 11th. Finally, Bank of America boosted their price objective on shares of Knight-Swift Transportation from $43.00 to $48.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $53.06.

Knight-Swift Transportation Trading Down 1.1%

Shares of Knight-Swift Transportation stock opened at $46.76 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.30. Knight-Swift Transportation Holdings Inc. has a 12-month low of $36.69 and a 12-month high of $61.51. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 49.75, a PEG ratio of 0.71 and a beta of 1.17. The firm's 50 day simple moving average is $44.62 and its two-hundred day simple moving average is $47.06.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. Knight-Swift Transportation had a net margin of 2.04% and a return on equity of 2.79%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the business posted $0.12 EPS. Knight-Swift Transportation's revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Monday, June 9th were paid a dividend of $0.18 per share. The ex-dividend date was Monday, June 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.54%. Knight-Swift Transportation's payout ratio is 76.60%.

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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