State of Tennessee Treasury Department trimmed its stake in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,992 shares of the transportation company’s stock after selling 9,277 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.08% of Knight-Swift Transportation worth $5,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Twin Tree Management LP grew its stake in Knight-Swift Transportation by 15,385.8% during the second quarter. Twin Tree Management LP now owns 121,718 shares of the transportation company’s stock worth $5,077,000 after purchasing an additional 120,932 shares during the period. Hudson Bay Capital Management LP bought a new position in shares of Knight-Swift Transportation in the second quarter valued at approximately $2,085,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Knight-Swift Transportation by 46.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 20,535 shares of the transportation company’s stock valued at $857,000 after purchasing an additional 6,534 shares in the last quarter. Telemark Asset Management LLC bought a new stake in Knight-Swift Transportation during the second quarter worth $18,352,000. Finally, California Public Employees Retirement System lifted its holdings in Knight-Swift Transportation by 0.6% during the second quarter. California Public Employees Retirement System now owns 282,627 shares of the transportation company’s stock worth $11,788,000 after acquiring an additional 1,758 shares during the period. Institutional investors own 84.35% of the company’s stock.
Several analysts have issued reports on KNX shares. Zacks Investment Research upgraded Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a research note on Monday, July 27th. Citigroup boosted their target price on Knight-Swift Transportation from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Loop Capital boosted their target price on Knight-Swift Transportation from $46.00 to $49.00 in a research report on Tuesday, June 23rd. KeyCorp boosted their target price on Knight-Swift Transportation from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Robert W. Baird boosted their target price on Knight-Swift Transportation from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Knight-Swift Transportation currently has a consensus rating of “Buy” and a consensus target price of $48.47.
KNX opened at $45.34 on Friday. The stock has a 50-day moving average price of $44.63 and a 200-day moving average price of $39.08. Knight-Swift Transportation Holdings Inc has a 12-month low of $27.54 and a 12-month high of $47.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $7.74 billion, a P/E ratio of 26.99, a PEG ratio of 1.38 and a beta of 1.25.
Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. Knight-Swift Transportation had a return on equity of 6.14% and a net margin of 6.28%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. On average, equities research analysts predict that Knight-Swift Transportation Holdings Inc will post 2.19 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, September 3rd. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 14.75%.
In other news, major shareholder Lyndee Moyes Nester sold 37,136 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $47.04, for a total value of $1,746,877.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kevin P. Knight sold 100,000 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $42.24, for a total value of $4,224,000.00. Following the completion of the sale, the chairman now directly owns 3,317 shares of the company’s stock, valued at approximately $140,110.08. The disclosure for this sale can be found here. In the last three months, insiders sold 344,922 shares of company stock valued at $15,236,429. 27.50% of the stock is currently owned by corporate insiders.
About Knight-Swift Transportation
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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