Citigroup Inc. Sells 201,072 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Citigroup Inc. lessened its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 33.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 402,946 shares of the transportation company’s stock after selling 201,072 shares during the period. Citigroup Inc.’s holdings in Knight-Swift Transportation were worth $19,379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ancora Advisors LLC bought a new stake in Knight-Swift Transportation in the fourth quarter valued at approximately $25,000. Sandy Spring Bank bought a new stake in Knight-Swift Transportation in the first quarter valued at approximately $26,000. CWM LLC raised its stake in Knight-Swift Transportation by 53.8% in the first quarter. CWM LLC now owns 929 shares of the transportation company’s stock valued at $45,000 after buying an additional 325 shares during the period. Ellevest Inc. raised its stake in Knight-Swift Transportation by 28.5% in the first quarter. Ellevest Inc. now owns 1,173 shares of the transportation company’s stock valued at $56,000 after buying an additional 260 shares during the period. Finally, Parallel Advisors LLC raised its stake in Knight-Swift Transportation by 84.4% in the first quarter. Parallel Advisors LLC now owns 1,879 shares of the transportation company’s stock valued at $90,000 after buying an additional 860 shares during the period. Institutional investors and hedge funds own 86.22% of the company’s stock.

A number of brokerages have recently weighed in on KNX. KCG upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $52.00 in a research note on Thursday, March 4th. Knight Equity upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $52.00 in a research note on Thursday, March 4th. Vertical Research began coverage on Knight-Swift Transportation in a research note on Friday, March 26th. They set a “buy” rating and a $62.00 target price on the stock. Susquehanna Bancshares lowered Knight-Swift Transportation to a “neutral” rating and set a $53.00 target price on the stock. in a research note on Monday, April 12th. Finally, Bank of America upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $52.00 in a research note on Thursday, March 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $50.82.

Shares of KNX opened at $45.48 on Tuesday. Knight-Swift Transportation Holdings Inc. has a 52 week low of $37.07 and a 52 week high of $50.96. The company has a market cap of $7.53 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $47.77.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Tuesday, April 20th. The transportation company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.13. Knight-Swift Transportation had a return on equity of 9.02% and a net margin of 9.94%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company earned $0.44 EPS. Knight-Swift Transportation’s revenue was up 8.7% compared to the same quarter last year. On average, research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 3.57 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 28th. Investors of record on Friday, June 4th will be given a dividend of $0.10 per share. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, June 3rd. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 14.65%.

In related news, EVP James E. Jr. Updike sold 2,250 shares of the firm’s stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $48.85, for a total transaction of $109,912.50. Following the completion of the transaction, the executive vice president now directly owns 15,270 shares of the company’s stock, valued at approximately $745,939.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Gary J. Knight sold 50,000 shares of the firm’s stock in a transaction on Tuesday, March 30th. The stock was sold at an average price of $49.00, for a total value of $2,450,000.00. Following the transaction, the insider now directly owns 10,285 shares of the company’s stock, valued at $503,965. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,850 shares of company stock valued at $9,992,889. 3.10% of the stock is 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 three segments: Trucking, Logistics, and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.

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Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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