Swiss National Bank Reduces Position in Knight-Swift Transportation Holdings Inc (NYSE:KNX)

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Swiss National Bank cut its position in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 426,096 shares of the transportation company’s stock after selling 11,400 shares during the period. Swiss National Bank owned approximately 0.25% of Knight-Swift Transportation worth $13,993,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Knight-Swift Transportation by 30.3% in the 1st quarter. FMR LLC now owns 16,940,629 shares of the transportation company’s stock valued at $553,620,000 after buying an additional 3,944,181 shares during the period. Wasatch Advisors Inc. boosted its position in Knight-Swift Transportation by 20.5% in the 1st quarter. Wasatch Advisors Inc. now owns 5,933,741 shares of the transportation company’s stock valued at $193,915,000 after buying an additional 1,009,719 shares during the period. Impala Asset Management LLC boosted its position in Knight-Swift Transportation by 4.5% in the 1st quarter. Impala Asset Management LLC now owns 3,100,720 shares of the transportation company’s stock valued at $101,332,000 after buying an additional 133,971 shares during the period. Frontier Capital Management Co. LLC boosted its position in Knight-Swift Transportation by 8.3% in the 1st quarter. Frontier Capital Management Co. LLC now owns 2,903,755 shares of the transportation company’s stock valued at $94,895,000 after buying an additional 222,781 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Knight-Swift Transportation by 16.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,705,986 shares of the transportation company’s stock valued at $67,842,000 after buying an additional 379,298 shares during the period. 86.01% of the stock is owned by hedge funds and other institutional investors.

KNX has been the subject of several research reports. ValuEngine raised shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Sunday, June 30th. Morgan Stanley set a $48.00 price objective on shares of Knight-Swift Transportation and gave the company a “buy” rating in a research report on Monday, July 8th. KeyCorp boosted their price objective on shares of Knight-Swift Transportation from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Stephens initiated coverage on shares of Knight-Swift Transportation in a research report on Monday, July 1st. They issued a “buy” rating for the company. Finally, Bank of America reissued a “buy” rating and issued a $43.00 price objective (up from $38.00) on shares of Knight-Swift Transportation in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $42.91.

Shares of KNX opened at $32.25 on Friday. The company has a 50 day moving average price of $34.64 and a 200-day moving average price of $32.94. Knight-Swift Transportation Holdings Inc has a fifty-two week low of $23.27 and a fifty-two week high of $39.26. The stock has a market capitalization of $5.86 billion, a PE ratio of 12.60, a PEG ratio of 0.96 and a beta of 1.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.17.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Knight-Swift Transportation had a net margin of 8.19% and a return on equity of 8.66%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company earned $0.27 EPS. The company’s revenue was down 6.7% compared to the same quarter last year. Equities research analysts forecast that Knight-Swift Transportation Holdings Inc will post 2.4 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a $0.06 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.74%. Knight-Swift Transportation’s payout ratio is presently 9.38%.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

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Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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