Cornerstone Capital Inc. Raises Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Cornerstone Capital Inc. increased its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 200.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,880 shares of the transportation company’s stock after purchasing an additional 9,935 shares during the quarter. Cornerstone Capital Inc.’s holdings in Knight-Swift Transportation were worth $858,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Truist Financial Corp lifted its stake in shares of Knight-Swift Transportation by 1.7% during the 4th quarter. Truist Financial Corp now owns 665,661 shares of the transportation company’s stock worth $38,375,000 after purchasing an additional 11,343 shares during the last quarter. VCI Wealth Management LLC purchased a new stake in shares of Knight-Swift Transportation during the 4th quarter worth $717,000. State of New Jersey Common Pension Fund D lifted its stake in shares of Knight-Swift Transportation by 4.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 83,304 shares of the transportation company’s stock worth $4,802,000 after purchasing an additional 3,511 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Knight-Swift Transportation by 9.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,692 shares of the transportation company’s stock worth $270,000 after purchasing an additional 398 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its stake in shares of Knight-Swift Transportation by 0.3% during the 4th quarter. Yousif Capital Management LLC now owns 77,858 shares of the transportation company’s stock worth $4,489,000 after purchasing an additional 212 shares during the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Stifel Nicolaus lowered Knight-Swift Transportation from a “buy” rating to a “hold” rating and reduced their target price for the company from $53.00 to $47.00 in a research report on Friday. Susquehanna reduced their target price on Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Robert W. Baird reduced their target price on Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Barclays reduced their target price on Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.71.

Knight-Swift Transportation Stock Down 0.5 %

Shares of KNX stock opened at $46.89 on Friday. The stock’s 50-day simple moving average is $53.52 and its 200-day simple moving average is $54.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.93. The firm has a market capitalization of $7.57 billion, a PE ratio of 69.99, a P/E/G ratio of 2.39 and a beta of 0.99. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.73 and a fifty-two week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company posted $0.73 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.31 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.16 dividend. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.36%. Knight-Swift Transportation’s dividend payout ratio is presently 95.52%.

Insider Transactions at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the sale, the chief accounting officer now owns 5,118 shares in the company, valued at $287,836.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

About Knight-Swift Transportation

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.