Primecap Management Co. CA Sells 6,000 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Primecap Management Co. CA lessened its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 3.3% in the third quarter, HoldingsChannel reports. The fund owned 177,200 shares of the transportation company’s stock after selling 6,000 shares during the quarter. Primecap Management Co. CA’s holdings in Knight-Swift Transportation were worth $9,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Interval Partners LP grew its position in Knight-Swift Transportation by 8,520.1% in the 2nd quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company’s stock valued at $64,547,000 after purchasing an additional 1,278,011 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Knight-Swift Transportation by 1,728.8% in the second quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company’s stock valued at $66,440,000 after buying an additional 1,258,157 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Knight-Swift Transportation by 27.6% during the second quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock valued at $271,121,000 after buying an additional 1,176,069 shares during the last quarter. Millennium Management LLC increased its position in shares of Knight-Swift Transportation by 309.7% during the second quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock worth $53,331,000 after acquiring an additional 807,572 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Knight-Swift Transportation by 10.9% in the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock worth $379,133,000 after acquiring an additional 744,412 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Performance

NYSE:KNX opened at $57.62 on Friday. The company has a market capitalization of $9.33 billion, a P/E ratio of 250.53, a P/E/G ratio of 1.92 and a beta of 0.93. The business has a fifty day simple moving average of $53.59 and a two-hundred day simple moving average of $51.33. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. Knight-Swift Transportation Holdings Inc. has a 1 year low of $45.55 and a 1 year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. On average, analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 278.27%.

Analysts Set New Price Targets

A number of research firms have issued reports on KNX. Barclays lifted their price target on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Morgan Stanley cut their target price on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus increased their price target on Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a research report on Friday, October 25th. The Goldman Sachs Group cut their price objective on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Citigroup downgraded shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 target price for the company. in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.38.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 29,779 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ploeg David Vander sold 500 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the sale, the director now owns 30,729 shares in the company, valued at approximately $1,754,625.90. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

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.