Geode Capital Management LLC Cuts Stock Position in Knight-Swift Transportation Holdings Inc. $KNX

Geode Capital Management LLC reduced its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,870,439 shares of the transportation company’s stock after selling 49,962 shares during the quarter. Geode Capital Management LLC’s holdings in Knight-Swift Transportation were worth $150,098,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KNX. Integrated Wealth Concepts LLC boosted its holdings in shares of Knight-Swift Transportation by 23.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,948 shares of the transportation company’s stock worth $259,000 after purchasing an additional 1,124 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Knight-Swift Transportation in the 1st quarter worth about $451,000. Cetera Investment Advisers boosted its holdings in shares of Knight-Swift Transportation by 6.9% in the 2nd quarter. Cetera Investment Advisers now owns 13,724 shares of the transportation company’s stock worth $607,000 after purchasing an additional 882 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Knight-Swift Transportation by 57.7% in the 2nd quarter. Invesco Ltd. now owns 1,087,719 shares of the transportation company’s stock worth $48,110,000 after purchasing an additional 398,116 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Knight-Swift Transportation by 54.3% in the 2nd quarter. First Trust Advisors LP now owns 491,702 shares of the transportation company’s stock worth $21,748,000 after purchasing an additional 172,956 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KNX has been the subject of several analyst reports. Benchmark increased their target price on Knight-Swift Transportation from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Weiss Ratings upgraded Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 15th. TD Cowen increased their target price on Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. UBS Group increased their target price on Knight-Swift Transportation from $79.00 to $94.00 and gave the company a “buy” rating in a report on Monday. Finally, Citigroup upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $68.88.

Knight-Swift Transportation Trading Up 0.3%

Shares of KNX stock opened at $78.48 on Friday. The stock has a market capitalization of $12.75 billion, a PE ratio of 373.73, a P/E/G ratio of 1.00 and a beta of 1.18. Knight-Swift Transportation Holdings Inc. has a 1-year low of $38.63 and a 1-year high of $79.10. The business has a 50-day moving average of $65.19 and a 200 day moving average of $58.31. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.20). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. As a group, sell-side analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.14 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Monday, June 8th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Knight-Swift Transportation’s dividend payout ratio is presently 380.95%.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.