Pacific Capital Wealth Advisors Inc. Acquires Shares of 12,103 Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Pacific Capital Wealth Advisors Inc. bought a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 12,103 shares of the transportation company’s stock, valued at approximately $698,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Knight-Swift Transportation by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 14,964,291 shares of the transportation company’s stock worth $750,459,000 after buying an additional 54,133 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Knight-Swift Transportation by 15.2% during the 3rd quarter. Wellington Management Group LLP now owns 13,578,508 shares of the transportation company’s stock worth $680,962,000 after purchasing an additional 1,794,133 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Knight-Swift Transportation by 908.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock worth $241,086,000 after purchasing an additional 3,767,408 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Knight-Swift Transportation by 5.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,060,156 shares of the transportation company’s stock worth $176,418,000 after purchasing an additional 167,691 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Knight-Swift Transportation by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,724,604 shares of the transportation company’s stock worth $136,639,000 after purchasing an additional 132,214 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Insider Transactions at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KNX. Robert W. Baird reduced their price objective on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Barclays reduced their price objective on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Loop Capital lowered shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and reduced their price objective for the company from $63.00 to $53.00 in a research note on Thursday, April 18th. Stephens reduced their price objective on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Finally, Evercore ISI reduced their price objective on shares of Knight-Swift Transportation from $60.00 to $55.00 and set an “in-line” rating for the company in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.71.

Knight-Swift Transportation Trading Up 0.6 %

NYSE KNX traded up $0.27 during trading on Wednesday, hitting $48.33. 2,099,660 shares of the company’s stock traded hands, compared to its average volume of 2,179,015. The stock has a fifty day moving average of $51.91 and a two-hundred day moving average of $54.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.93 and a quick ratio of 0.93. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.55 and a 12-month high of $60.99. The firm has a market cap of $7.81 billion, a P/E ratio of 72.13, a PEG ratio of 2.44 and a beta of 1.03.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.07). The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 earnings per share. As a group, sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.29 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.32%. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Knight-Swift Transportation 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 transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.