Victory Capital Management Inc. Sells 1,661,382 Shares of Knight-Swift Transportation Holdings Inc. $KNX

Victory Capital Management Inc. decreased its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 19.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,834,755 shares of the transportation company’s stock after selling 1,661,382 shares during the period. Victory Capital Management Inc.’s holdings in Knight-Swift Transportation were worth $357,321,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Vontobel Holding Ltd. bought a new position in shares of Knight-Swift Transportation in the fourth quarter worth about $373,000. Storgate LLC bought a new position in shares of Knight-Swift Transportation in the fourth quarter worth about $645,000. Quadrant Capital Group LLC boosted its stake in shares of Knight-Swift Transportation by 5.6% in the fourth quarter. Quadrant Capital Group LLC now owns 9,923 shares of the transportation company’s stock worth $519,000 after acquiring an additional 527 shares during the period. Federation des caisses Desjardins du Quebec boosted its stake in shares of Knight-Swift Transportation by 515.7% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 65,218 shares of the transportation company’s stock worth $3,410,000 after acquiring an additional 54,626 shares during the period. Finally, Somerset Group LLC bought a new position in shares of Knight-Swift Transportation in the fourth quarter worth about $309,000. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Price Performance

Shares of Knight-Swift Transportation stock opened at $81.34 on Friday. The stock has a 50 day moving average of $68.08 and a 200 day moving average of $59.80. Knight-Swift Transportation Holdings Inc. has a 12 month low of $38.63 and a 12 month high of $82.86. The firm has a market cap of $13.22 billion, a PE ratio of 387.35, a PEG ratio of 1.05 and a beta of 1.18. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the company posted $0.28 earnings per share. Knight-Swift Transportation’s quarterly revenue was up 1.4% on a year-over-year basis. On average, research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.14 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently disclosed 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 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 380.95%.

Wall Street Analyst Weigh In

KNX has been the subject of a number of recent analyst reports. Benchmark upped their price objective on Knight-Swift Transportation from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Citigroup raised Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Friday, March 13th. Susquehanna raised Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 price target for the company in a research note on Tuesday, June 2nd. Robert W. Baird increased their price target on Knight-Swift Transportation from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Barclays increased their price target on Knight-Swift Transportation from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.19.

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.