Knight-Swift Transportation Holdings Inc. (NYSE:KNX) declared a quarterly dividend on Monday, April 19th, Zacks reports. Shareholders of record on Friday, June 4th will be paid a dividend of 0.10 per share by the transportation company on Monday, June 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Thursday, June 3rd. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.08.
Knight-Swift Transportation has raised its dividend by 33.3% over the last three years and has raised its dividend every year for the last 1 years.
Shares of NYSE:KNX opened at $49.27 on Wednesday. Knight-Swift Transportation has a one year low of $34.58 and a one year high of $50.63. The company has a 50 day moving average of $47.26 and a 200-day moving average of $42.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 0.87 and a beta of 1.19.
In related news, Chairman Kevin P. Knight sold 49,600 shares of the stock in a transaction on Friday, April 9th. The stock was sold at an average price of $50.06, for a total transaction of $2,482,976.00. Following the sale, the chairman now directly owns 5,509 shares of the company’s stock, valued at $275,780.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Kevin P. Knight sold 50,000 shares of the stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $50.00, for a total value of $2,500,000.00. Following the sale, the chairman now directly owns 5,509 shares in the company, valued at $275,450. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,600 shares of company stock worth $9,882,976. Insiders own 27.50% of the company’s stock.
A number of research analysts recently issued reports on the stock. Wolfe Research cut shares of Knight-Swift Transportation from an “outperform” rating to a “market perform” rating in a report on Thursday, January 7th. Bank of America upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $52.00 in a report on Wednesday, March 10th. Zacks Investment Research upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Tuesday, April 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $45.00 price target (down previously from $56.00) on shares of Knight-Swift Transportation in a report on Tuesday, March 16th. Finally, Susquehanna Bancshares cut shares of Knight-Swift Transportation to a “neutral” rating and set a $53.00 price target for the company. in a report on Monday, April 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. Knight-Swift Transportation has a consensus rating of “Buy” and an average price target of $50.70.
About Knight-Swift Transportation
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through three segments: Trucking, Logistics, and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.
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