Primecap Management Co. CA Grows Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Primecap Management Co. CA lifted its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNXFree Report) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,700 shares of the transportation company’s stock after purchasing an additional 22,000 shares during the quarter. Primecap Management Co. CA owned 0.11% of Knight-Swift Transportation worth $10,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of KNX. Massmutual Trust Co. FSB ADV lifted its stake in shares of Knight-Swift Transportation by 136.5% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 667 shares of the transportation company’s stock worth $38,000 after buying an additional 385 shares in the last quarter. Blue Trust Inc. lifted its position in Knight-Swift Transportation by 80.3% in the 4th quarter. Blue Trust Inc. now owns 732 shares of the transportation company’s stock valued at $42,000 after acquiring an additional 326 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Knight-Swift Transportation by 61.7% in the 4th quarter. First Horizon Advisors Inc. now owns 742 shares of the transportation company’s stock worth $43,000 after purchasing an additional 283 shares in the last quarter. Planned Solutions Inc. bought a new stake in Knight-Swift Transportation in the 4th quarter worth approximately $92,000. Finally, Avior Wealth Management LLC bought a new stake in shares of Knight-Swift Transportation during the 4th quarter valued at about $150,000. Institutional investors own 88.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on KNX. Raymond James initiated coverage on shares of Knight-Swift Transportation in a research note on Wednesday, May 15th. They issued a “strong-buy” rating and a $58.00 price objective on the stock. Barclays dropped their price target on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Bank of America reduced their price objective on Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Susquehanna lowered their target price on Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Finally, Stifel Nicolaus cut Knight-Swift Transportation from a “buy” rating to a “hold” rating and reduced their price target for the stock from $53.00 to $47.00 in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Knight-Swift Transportation currently has an average rating of “Moderate Buy” and an average target price of $57.38.

Get Our Latest Stock Report on KNX

Knight-Swift Transportation Price Performance

Shares of Knight-Swift Transportation stock traded up $0.77 during trading on Friday, reaching $47.70. 1,836,282 shares of the stock traded hands, compared to its average volume of 2,248,179. Knight-Swift Transportation Holdings Inc. has a 52-week low of $45.55 and a 52-week high of $60.99. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.93 and a quick ratio of 0.93. The business has a fifty day simple moving average of $50.23 and a two-hundred day simple moving average of $54.03. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 71.20, a P/E/G ratio of 1.20 and a beta of 1.03.

Knight-Swift Transportation (NYSE:KNXGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.07). The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 EPS. Sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.26 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be paid a $0.16 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.34%. Knight-Swift Transportation’s payout ratio is currently 95.52%.

Insider Activity

In related news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the transaction, the chief accounting officer now owns 5,118 shares in the company, valued at $287,836.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Company 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.

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

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