Kiwi Wealth Investments Limited Partnership purchased a new position in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 207,205 shares of the transportation company’s stock, valued at approximately $9,534,000.
A number of other large investors also recently modified their holdings of KNX. Standard Life Aberdeen plc bought a new stake in Knight-Swift Transportation during the fourth quarter worth $225,393,000. Citadel Advisors LLC lifted its stake in Knight-Swift Transportation by 314.7% during the first quarter. Citadel Advisors LLC now owns 3,349,522 shares of the transportation company’s stock worth $154,112,000 after purchasing an additional 2,541,867 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in Knight-Swift Transportation by 212.2% during the first quarter. Frontier Capital Management Co. LLC now owns 1,770,880 shares of the transportation company’s stock worth $81,478,000 after purchasing an additional 1,203,735 shares during the last quarter. BlackRock Inc. lifted its stake in Knight-Swift Transportation by 6.0% during the fourth quarter. BlackRock Inc. now owns 14,341,294 shares of the transportation company’s stock worth $627,000,000 after purchasing an additional 808,692 shares during the last quarter. Finally, Systematic Financial Management LP bought a new stake in Knight-Swift Transportation during the first quarter worth $34,568,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on KNX. UBS Group upped their target price on Knight-Swift Transportation from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, April 26th. Stifel Nicolaus restated a “hold” rating and set a $48.00 target price on shares of Knight-Swift Transportation in a research note on Friday, April 6th. ValuEngine cut Knight-Swift Transportation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. Goldman Sachs Group began coverage on Knight-Swift Transportation in a research note on Tuesday, April 10th. They set a “neutral” rating and a $47.00 target price for the company. Finally, Credit Suisse Group cut their target price on Knight-Swift Transportation from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, April 26th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $52.22.
Shares of Knight-Swift Transportation opened at $42.76 on Thursday, according to Marketbeat.com. Knight-Swift Transportation Holdings Inc has a 52 week low of $34.39 and a 52 week high of $51.94. The firm has a market capitalization of $7.37 billion, a PE ratio of 30.51, a PEG ratio of 1.20 and a beta of 1.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.45 and a quick ratio of 1.45.
Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, April 25th. The transportation company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.04. Knight-Swift Transportation had a return on equity of 5.75% and a net margin of 13.22%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the company earned $0.18 EPS. Knight-Swift Transportation’s revenue was up 368.7% compared to the same quarter last year. analysts expect that Knight-Swift Transportation Holdings Inc will post 2.3 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 27th. Stockholders of record on Friday, June 1st will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Thursday, May 31st. Knight-Swift Transportation’s payout ratio is 17.39%.
In related news, Vice Chairman Gary J. Knight sold 15,000 shares of the firm’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $40.22, for a total transaction of $603,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathryn L. Munro sold 5,069 shares of the firm’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $39.27, for a total value of $199,059.63. The disclosure for this sale can be found here. Insiders sold a total of 98,794 shares of company stock valued at $3,954,288 over the last quarter. 27.50% of the stock is owned by corporate insiders.
About Knight-Swift Transportation
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics 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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