Franklin Resources Inc. bought a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund bought 1,378,068 shares of the transportation company's stock, valued at approximately $70,185,000. Franklin Resources Inc. owned 0.85% of Knight-Swift Transportation at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in Knight-Swift Transportation by 10.9% during the second quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company's stock valued at $379,133,000 after purchasing an additional 744,412 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Knight-Swift Transportation by 27.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company's stock worth $271,121,000 after acquiring an additional 1,176,069 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Knight-Swift Transportation by 13.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company's stock worth $219,870,000 after acquiring an additional 467,647 shares during the last quarter. Geode Capital Management LLC increased its holdings in Knight-Swift Transportation by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,740,873 shares of the transportation company's stock worth $147,529,000 after acquiring an additional 46,436 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its stake in Knight-Swift Transportation by 3.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company's stock valued at $81,729,000 after acquiring an additional 57,493 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.
Knight-Swift Transportation Price Performance
KNX traded down $0.98 on Tuesday, reaching $53.94. The company had a trading volume of 2,111,767 shares, compared to its average volume of 2,035,543. 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 market cap of $8.73 billion, a price-to-earnings ratio of 238.79, a P/E/G ratio of 1.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50 day simple moving average of $55.10 and a 200 day simple moving average of $52.38.
Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The business's quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. As a group, sell-side analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current 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 issued a dividend of $0.16 per share. The ex-dividend date is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. Knight-Swift Transportation's dividend payout ratio is 278.27%.
Insider Buying and Selling
In related news, Chairman Kevin P. Knight sold 29,779 shares of Knight-Swift Transportation stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total value of $1,703,061.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ploeg David Vander sold 500 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $57.10, for a total transaction of $28,550.00. Following the sale, the director now owns 30,729 shares of the company's stock, valued at approximately $1,754,625.90. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
KNX has been the subject of several recent research reports. TD Cowen lifted their target price on shares of Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Citigroup downgraded shares of Knight-Swift Transportation from a "neutral" rating to a "sell" rating and set a $56.00 price objective for the company. in a report on Tuesday, November 12th. Evercore ISI boosted their target price on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the company an "in-line" rating in a report on Thursday, October 24th. The Goldman Sachs Group raised their price target on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Finally, Barclays lifted their price target on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Two investment 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $57.00.
View Our Latest Report on Knight-Swift Transportation
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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