Itau Unibanco Holding S.A. cut its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) by 49.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,216 shares of the transportation company’s stock after selling 4,083 shares during the period. Itau Unibanco Holding S.A.’s holdings in Knight-Swift Transportation were worth $239,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the company. Orion Capital Management LLC acquired a new stake in shares of Knight-Swift Transportation in the 1st quarter worth approximately $26,000. Venturi Wealth Management LLC purchased a new stake in shares of Knight-Swift Transportation during the 1st quarter worth about $28,000. BI Asset Management Fondsmaeglerselskab A S grew its position in Knight-Swift Transportation by 111.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 657 shares of the transportation company’s stock worth $37,000 after acquiring an additional 347 shares in the last quarter. Fifth Third Bancorp increased its position in Knight-Swift Transportation by 39.6% during the first quarter. Fifth Third Bancorp now owns 829 shares of the transportation company’s stock worth $47,000 after buying an additional 235 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Knight-Swift Transportation by 543.2% during the 1st quarter. Brown Brothers Harriman & Co. now owns 939 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 793 shares during the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.
Insider Buying and Selling
In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $59.00, for a total value of $118,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,880 shares in the company, valued at $346,920. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Knight-Swift Transportation news, SVP Dustin Ohlman sold 1,296 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $56.91, for a total transaction of $73,755.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $59.00, for a total value of $118,000.00. Following the completion of the sale, the chief accounting officer now owns 5,880 shares in the company, valued at approximately $346,920. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,296 shares of company stock worth $6,210,755. Corporate insiders own 3.10% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have weighed in on KNX shares. Susquehanna reduced their price target on shares of Knight-Swift Transportation from $53.00 to $51.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Morgan Stanley reduced their price target on shares of Knight-Swift Transportation from $75.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, July 31st. Credit Suisse Group downgraded shares of Knight-Swift Transportation from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $63.00 to $60.00 in a research note on Wednesday, May 17th. Stifel Nicolaus decreased their price target on shares of Knight-Swift Transportation from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, July 18th. Finally, TD Cowen dropped their price objective on shares of Knight-Swift Transportation from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.24.
Check Out Our Latest Stock Report on KNX
Knight-Swift Transportation Stock Up 0.6 %
Shares of NYSE:KNX traded up $0.35 during trading on Friday, hitting $55.17. 269,589 shares of the company’s stock traded hands, compared to its average volume of 1,891,743. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $56.81 and a 200-day moving average price of $56.45. Knight-Swift Transportation Holdings Inc. has a 52 week low of $45.63 and a 52 week high of $64.35. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 1.64 and a beta of 1.17.
Knight-Swift Transportation (NYSE:KNX – Get Free Report) last announced its quarterly earnings results on Thursday, July 20th. The transportation company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.59 billion. Knight-Swift Transportation had a net margin of 7.48% and a return on equity of 8.08%. As a group, research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.19 EPS for the current fiscal year.
Knight-Swift Transportation Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 8th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, September 7th. Knight-Swift Transportation’s dividend payout ratio is currently 17.72%.
Knight-Swift Transportation Company Profile
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 transportations services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
Further Reading
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