Victory Capital Management Inc. Cuts Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Victory Capital Management Inc. reduced its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,473,618 shares of the transportation company’s stock after selling 121,199 shares during the period. Victory Capital Management Inc. owned 4.62% of Knight-Swift Transportation worth $403,202,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KNX. Interval Partners LP increased its stake in shares of Knight-Swift Transportation by 8,520.1% in the second quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company’s stock worth $64,547,000 after purchasing an additional 1,278,011 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Knight-Swift Transportation by 1,728.8% in the second quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company’s stock valued at $66,440,000 after purchasing an additional 1,258,157 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Knight-Swift Transportation by 27.6% during the second quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock valued at $271,121,000 after purchasing an additional 1,176,069 shares during the last quarter. Millennium Management LLC lifted its position in shares of Knight-Swift Transportation by 309.7% in the second quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock valued at $53,331,000 after buying an additional 807,572 shares during the last quarter. Finally, Brandes Investment Partners LP bought a new position in shares of Knight-Swift Transportation during the second quarter worth approximately $30,251,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the transaction, the director now owns 21,833 shares of the company’s stock, valued at $1,164,135.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on KNX. Raymond James lifted their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 14th. Bank of America increased their target price on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Susquehanna increased their price target on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Morgan Stanley dropped their target price on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Barclays raised their target price on Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Knight-Swift Transportation currently has a consensus rating of “Hold” and an average price target of $56.00.

Knight-Swift Transportation Stock Performance

KNX stock traded down $2.23 during trading on Tuesday, reaching $56.65. 648,219 shares of the company’s stock were exchanged, compared to its average volume of 2,065,718. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. The company’s fifty day moving average price is $52.70 and its 200-day moving average price is $50.79. Knight-Swift Transportation Holdings Inc. has a 1-year low of $45.55 and a 1-year high of $60.99. The firm has a market cap of $9.17 billion, a PE ratio of 256.00, a P/E/G ratio of 2.17 and a beta of 0.93.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, research analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. Knight-Swift Transportation’s payout ratio is 278.26%.

About Knight-Swift Transportation

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.