Chesapeake Capital Corp IL Acquires New Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Chesapeake Capital Corp IL acquired a new stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,302 shares of the transportation company’s stock, valued at approximately $387,000.

Several other hedge funds have also recently added to or reduced their stakes in KNX. Franklin Resources Inc. purchased a new stake in Knight-Swift Transportation in the third quarter worth approximately $70,185,000. Victory Capital Management Inc. boosted its stake in Knight-Swift Transportation by 6.8% in the fourth quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company’s stock worth $423,265,000 after buying an additional 506,491 shares in the last quarter. Nuance Investments LLC boosted its stake in Knight-Swift Transportation by 74.5% in the third quarter. Nuance Investments LLC now owns 929,083 shares of the transportation company’s stock worth $50,124,000 after buying an additional 396,607 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Knight-Swift Transportation by 34.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,412,869 shares of the transportation company’s stock worth $76,224,000 after buying an additional 359,566 shares in the last quarter. Finally, WCM Investment Management LLC purchased a new stake in Knight-Swift Transportation in the fourth quarter worth approximately $16,256,000. Institutional investors own 88.77% of the company’s stock.

Insiders Place Their Bets

In related news, Director Douglas L. Col bought 5,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $45.37 per share, with a total value of $226,850.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $226,850. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on KNX shares. StockNews.com raised Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Citigroup upgraded Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 price objective for the company in a research report on Monday, March 10th. Raymond James boosted their price objective on Knight-Swift Transportation from $62.00 to $66.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Bank of America boosted their price objective on Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their price objective on Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.41.

Knight-Swift Transportation Price Performance

KNX opened at $46.36 on Wednesday. The stock has a fifty day simple moving average of $52.82 and a two-hundred day simple moving average of $53.54. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 63.50 and a beta of 0.97. Knight-Swift Transportation Holdings Inc. has a 12-month low of $44.95 and a 12-month high of $61.51.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. Research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.18 dividend. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.55%. Knight-Swift Transportation’s dividend payout ratio is 98.63%.

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.