Hsbc Holdings PLC Raises Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Hsbc Holdings PLC increased its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 45.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,011 shares of the transportation company's stock after buying an additional 25,139 shares during the period. Hsbc Holdings PLC owned about 0.05% of Knight-Swift Transportation worth $4,290,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust increased its position in Knight-Swift Transportation by 88.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company's stock valued at $36,000 after purchasing an additional 322 shares during the period. UMB Bank n.a. increased its holdings in Knight-Swift Transportation by 84.3% during the fourth quarter. UMB Bank n.a. now owns 809 shares of the transportation company's stock valued at $43,000 after buying an additional 370 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Knight-Swift Transportation by 20.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company's stock worth $67,000 after buying an additional 213 shares in the last quarter. GAMMA Investing LLC boosted its position in Knight-Swift Transportation by 18.5% during the 4th quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company's stock valued at $71,000 after acquiring an additional 208 shares in the last quarter. Finally, Arcadia Investment Management Corp MI increased its holdings in shares of Knight-Swift Transportation by 167.2% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,336 shares of the transportation company's stock valued at $71,000 after acquiring an additional 836 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KNX shares. UBS Group dropped their price objective on Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Benchmark reaffirmed a "buy" rating and issued a $63.00 price objective on shares of Knight-Swift Transportation in a research report on Monday, April 14th. Raymond James decreased their target price 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. Bank of America lowered shares of Knight-Swift Transportation from a "buy" rating to a "neutral" rating and cut their price target for the stock from $66.00 to $46.00 in a report on Tuesday, April 1st. Finally, Wells Fargo & Company lowered their price objective on Knight-Swift Transportation from $55.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Knight-Swift Transportation presently has a consensus rating of "Moderate Buy" and an average price target of $50.60.

Knight-Swift Transportation Stock Performance

NYSE:KNX traded up $2.47 during midday trading on Friday, hitting $41.45. The company's stock had a trading volume of 3,852,556 shares, compared to its average volume of 2,293,730. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $36.69 and a fifty-two week high of $61.51. The firm's 50 day moving average is $43.35 and its 200-day moving average is $50.99. The firm has a market cap of $6.71 billion, a P/E ratio of 56.78 and a beta of 1.16.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter last year, the company posted $0.12 earnings per share. The firm's revenue was up 1.3% compared to the same quarter last year. Equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Monday, June 9th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Monday, June 9th. Knight-Swift Transportation's payout ratio is presently 76.60%.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Director Douglas L. Col bought 5,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the transaction, the director now directly owns 5,000 shares of the company's stock, valued at approximately $226,850. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.00% of the company's stock.

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.