State of Michigan Retirement System Sells 6,904 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

State of Michigan Retirement System lowered its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 15.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,727 shares of the transportation company's stock after selling 6,904 shares during the quarter. 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.

Several other large investors also recently made changes to their positions in KNX. Interval Partners LP boosted its holdings in shares of Knight-Swift Transportation by 320.7% in the fourth quarter. Interval Partners LP now owns 1,754,822 shares of the transportation company's stock valued at $93,076,000 after acquiring an additional 1,337,727 shares in the last quarter. Norges Bank bought a new position in shares of Knight-Swift Transportation in the fourth quarter valued at approximately $65,839,000. SG Americas Securities LLC boosted its holdings in shares of Knight-Swift Transportation by 54,434.0% in the first quarter. SG Americas Securities LLC now owns 1,103,768 shares of the transportation company's stock valued at $48,003,000 after acquiring an additional 1,101,744 shares in the last quarter. Junto Capital Management LP bought a new position in shares of Knight-Swift Transportation in the fourth quarter valued at approximately $34,355,000. Finally, Ceredex Value Advisors LLC boosted its holdings in shares of Knight-Swift Transportation by 59.5% in the fourth quarter. Ceredex Value Advisors LLC now owns 1,435,562 shares of the transportation company's stock valued at $76,142,000 after acquiring an additional 535,518 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company's stock.

Wall Street Analyst Weigh In

KNX has been the subject of several recent analyst reports. Citigroup increased their price objective on shares of Knight-Swift Transportation from $53.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Evercore ISI decreased their price objective on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. Barclays decreased their price objective on shares of Knight-Swift Transportation from $58.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Susquehanna raised their target price on shares of Knight-Swift Transportation from $45.00 to $52.00 and gave the stock a "positive" rating in a report on Tuesday, June 24th. Finally, Raymond James Financial raised their target price on shares of Knight-Swift Transportation from $50.00 to $55.00 and gave the stock a "strong-buy" rating in a report on Tuesday. Five equities 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.06.

Knight-Swift Transportation Stock Down 2.7%

Shares of NYSE KNX traded down $1.21 during mid-day trading on Friday, reaching $44.39. The company had a trading volume of 1,031,151 shares, compared to its average volume of 2,408,397. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 47.23, a PEG ratio of 0.68 and a beta of 1.17. The stock has a fifty day moving average of $44.84 and a two-hundred day moving average of $46.99. Knight-Swift Transportation Holdings Inc. has a 12-month low of $36.69 and a 12-month high of $61.51.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm earned $0.12 EPS. The company's revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Monday, June 9th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.62%. Knight-Swift Transportation's dividend payout ratio is currently 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.