Russell Investments Group Ltd. cut its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 28.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 227,610 shares of the transportation company's stock after selling 89,551 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of Knight-Swift Transportation worth $13,126,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Knight-Swift Transportation by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 14,964,291 shares of the transportation company's stock valued at $750,459,000 after buying an additional 54,133 shares during the period. Wellington Management Group LLP boosted its position in shares of Knight-Swift Transportation by 15.2% during the 3rd quarter. Wellington Management Group LLP now owns 13,578,508 shares of the transportation company's stock worth $680,962,000 after purchasing an additional 1,794,133 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Knight-Swift Transportation by 5.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,060,156 shares of the transportation company's stock worth $176,418,000 after purchasing an additional 167,691 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Knight-Swift Transportation by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,724,604 shares of the transportation company's stock valued at $136,639,000 after purchasing an additional 132,214 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Knight-Swift Transportation by 6.2% in the third quarter. Bank of New York Mellon Corp now owns 1,781,641 shares of the transportation company's stock valued at $89,349,000 after purchasing an additional 103,702 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.
Knight-Swift Transportation Stock Performance
Shares of Knight-Swift Transportation stock remained flat at $47.07 during mid-day trading on Friday. 2,182,246 shares of the company's stock traded hands, compared to its average volume of 2,795,539. The stock has a fifty day moving average of $52.45 and a 200-day moving average of $54.16. The company has a quick ratio of 0.94, a current ratio of 0.93 and a debt-to-equity ratio of 0.25. The company has a market cap of $7.60 billion, a PE ratio of 70.25, a price-to-earnings-growth ratio of 2.44 and a beta of 1.03. Knight-Swift Transportation Holdings Inc. has a one year low of $45.55 and a one year high of $60.99.
Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.07). The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. Knight-Swift Transportation had a return on equity of 2.54% and a net margin of 1.50%. The firm's revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. Equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.29 earnings per share for the current fiscal year.
Knight-Swift Transportation Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.64 annualized dividend and a yield of 1.36%. Knight-Swift Transportation's dividend payout ratio (DPR) is presently 95.52%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on KNX. Robert W. Baird lowered their target price on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, April 25th. Barclays dropped their price objective on Knight-Swift Transportation from $62.00 to $57.00 and set an "overweight" rating for the company in a research note on Thursday, April 18th. Evercore ISI decreased their target price on Knight-Swift Transportation from $60.00 to $55.00 and set an "in-line" rating on the stock in a research report on Thursday, April 25th. Loop Capital lowered Knight-Swift Transportation from a "buy" rating to a "hold" rating and lowered their target price for the company from $63.00 to $53.00 in a report on Thursday, April 18th. Finally, Stifel Nicolaus downgraded Knight-Swift Transportation from a "buy" rating to a "hold" rating and cut their price target for the stock from $53.00 to $47.00 in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $57.71.
View Our Latest Stock Analysis on KNX
Insiders Place Their Bets
In other news, CAO Cary M. Flanagan sold 2,000 shares of the company's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the transaction, the chief accounting officer now owns 5,118 shares of the company's stock, valued at approximately $287,836.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by corporate insiders.
Knight-Swift Transportation Profile
(
Free Report)
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.
Further Reading
Before you consider Knight-Swift Transportation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Knight-Swift Transportation wasn't on the list.
While Knight-Swift Transportation currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
