DekaBank Deutsche Girozentrale lowered its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 73.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,846 shares of the transportation company's stock after selling 52,976 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Knight-Swift Transportation were worth $1,014,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Interval Partners LP increased its position in Knight-Swift Transportation by 8,520.1% in the 2nd quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company's stock worth $64,547,000 after buying an additional 1,278,011 shares during the period. Thrivent Financial for Lutherans raised its stake in Knight-Swift Transportation by 1,728.8% during the 2nd 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 during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Knight-Swift Transportation by 27.6% in the 2nd 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 period. Millennium Management LLC grew its position in Knight-Swift Transportation by 309.7% in the 2nd quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company's stock worth $53,331,000 after purchasing an additional 807,572 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Knight-Swift Transportation by 10.9% during the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company's stock worth $379,133,000 after purchasing an additional 744,412 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.
Knight-Swift Transportation Price Performance
Shares of Knight-Swift Transportation stock traded up $0.85 during trading on Friday, reaching $52.93. The company's stock had a trading volume of 1,552,014 shares, compared to its average volume of 2,070,404. Knight-Swift Transportation Holdings Inc. has a one year low of $45.55 and a one year high of $60.99. The stock has a 50-day moving average price of $52.15 and a two-hundred day moving average price of $50.43. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $8.57 billion, a P/E ratio of 230.14, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93.
Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. Knight-Swift Transportation's quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. As a group, sell-side analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.06 EPS for the current fiscal year.
Knight-Swift Transportation Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. Knight-Swift Transportation's dividend payout ratio (DPR) is currently 278.27%.
Insider Transactions at Knight-Swift Transportation
In related news, Director Michael Garnreiter sold 2,000 shares of the firm's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total value of $101,140.00. Following the transaction, the director now owns 17,648 shares in the company, valued at $892,459.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction on Monday, August 5th. The shares were sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the completion of the sale, the chairman now owns 1,422,360 shares of the company's stock, valued at approximately $73,294,210.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Garnreiter sold 2,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total value of $101,140.00. Following the completion of the transaction, the director now directly owns 17,648 shares in the company, valued at approximately $892,459.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,196 shares of company stock worth $2,857,969 over the last 90 days. 3.00% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. UBS Group decreased their target price on Knight-Swift Transportation from $59.00 to $58.00 and set a "buy" rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price objective on Knight-Swift Transportation from $51.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, July 25th. Raymond James raised their target price on 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. Susquehanna boosted 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. Finally, Wolfe Research cut shares of Knight-Swift Transportation from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of "Moderate Buy" and an average price target of $55.94.
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About Knight-Swift Transportation
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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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