Cherokee Insurance Co Makes New Investment in J.B. Hunt Transport Services, Inc. $JBHT

Cherokee Insurance Co bought a new position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 4,300 shares of the transportation company’s stock, valued at approximately $617,000.

A number of other institutional investors have also recently made changes to their positions in JBHT. Summit Securities Group LLC increased its stake in J.B. Hunt Transport Services by 19,600.0% during the first quarter. Summit Securities Group LLC now owns 197 shares of the transportation company’s stock worth $29,000 after acquiring an additional 196 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of J.B. Hunt Transport Services by 57.8% in the 2nd quarter. Private Trust Co. NA now owns 202 shares of the transportation company’s stock worth $29,000 after purchasing an additional 74 shares during the period. Assetmark Inc. increased its position in shares of J.B. Hunt Transport Services by 418.6% during the 2nd quarter. Assetmark Inc. now owns 223 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 180 shares during the last quarter. Allworth Financial LP increased its position in shares of J.B. Hunt Transport Services by 167.0% during the 1st quarter. Allworth Financial LP now owns 235 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 147 shares during the last quarter. Finally, National Pension Service lifted its position in J.B. Hunt Transport Services by 74.9% in the first quarter. National Pension Service now owns 306 shares of the transportation company’s stock worth $45,000 after buying an additional 131 shares during the last quarter. Institutional investors own 74.95% of the company’s stock.

Insider Transactions at J.B. Hunt Transport Services

In related news, EVP Darren P. Field sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $169.00, for a total value of $1,098,500.00. Following the completion of the transaction, the executive vice president owned 12,976 shares of the company’s stock, valued at $2,192,944. The trade was a 33.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of J.B. Hunt Transport Services from $164.00 to $173.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Wells Fargo & Company lifted their price target on shares of J.B. Hunt Transport Services from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Citigroup cut their price target on shares of J.B. Hunt Transport Services from $170.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Sanford C. Bernstein set a $172.00 price objective on shares of J.B. Hunt Transport Services in a research note on Thursday, October 16th. Finally, Evercore ISI upped their target price on J.B. Hunt Transport Services from $155.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $166.30.

J.B. Hunt Transport Services Price Performance

JBHT opened at $169.26 on Thursday. The company has a market capitalization of $16.12 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 2.33 and a beta of 1.26. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. J.B. Hunt Transport Services, Inc. has a 12-month low of $122.79 and a 12-month high of $192.46. The business’s fifty day simple moving average is $149.85 and its 200-day simple moving average is $145.64.

J.B. Hunt Transport Services (NASDAQ:JBHT) last released its quarterly earnings data on Wednesday, October 15th. The transportation company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.30. J.B. Hunt Transport Services had a net margin of 4.75% and a return on equity of 15.16%. The company had revenue of ($5,136.05) million during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the firm earned $1.49 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current fiscal year.

J.B. Hunt Transport Services declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 22nd that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

J.B. Hunt Transport Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 7th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, November 7th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is currently 30.50%.

J.B. Hunt Transport Services Company Profile

J.B. Hunt Transport Services, Inc provides surface transportation, delivery, and logistic services in the United States. It operates through five segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). The JBI segment offers intermodal freight solutions.