Bank of New York Mellon Corp Trims Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Bank of New York Mellon Corp decreased its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,494,793 shares of the transportation company's stock after selling 44,156 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.92% of Knight-Swift Transportation worth $79,284,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of KNX. GAMMA Investing LLC grew its holdings in shares of Knight-Swift Transportation by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company's stock worth $71,000 after purchasing an additional 208 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Knight-Swift Transportation by 20.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company's stock worth $67,000 after purchasing an additional 213 shares during the period. MML Investors Services LLC grew its stake in shares of Knight-Swift Transportation by 4.6% in the third quarter. MML Investors Services LLC now owns 5,182 shares of the transportation company's stock worth $280,000 after purchasing an additional 228 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in Knight-Swift Transportation by 4.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 5,301 shares of the transportation company's stock valued at $281,000 after purchasing an additional 235 shares during the period. Finally, CIBC Asset Management Inc raised its position in Knight-Swift Transportation by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 4,924 shares of the transportation company's stock worth $261,000 after purchasing an additional 252 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on KNX shares. The Goldman Sachs Group increased their price target on Knight-Swift Transportation from $45.00 to $51.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Barclays raised their price target on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Citigroup cut 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 research report on Tuesday, November 12th. StockNews.com upgraded shares of Knight-Swift Transportation from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Finally, TD Cowen increased their price target on Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Knight-Swift Transportation has a consensus rating of "Moderate Buy" and an average price target of $59.59.

Knight-Swift Transportation Trading Up 0.1 %

NYSE KNX traded up $0.07 during trading on Thursday, hitting $48.75. 866,673 shares of the company's stock traded hands, compared to its average volume of 2,564,674. The firm has a market cap of $7.90 billion, a P/E ratio of 66.75 and a beta of 0.99. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.55 and a 12-month high of $61.51. The stock has a fifty day moving average of $54.01 and a two-hundred day moving average of $53.92. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. As a group, sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Knight-Swift Transportation's previous quarterly dividend of $0.16. Knight-Swift Transportation's dividend payout ratio is currently 98.63%.

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.