Credit Suisse AG Sells 324 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

06 Dec 2023, 13:53 by Tristan Rich · The Markets Daily

Credit Suisse AG lowered its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 272,870 shares of the transportation company’s stock after selling 324 shares during the period. Credit Suisse AG owned 0.17% of Knight-Swift Transportation worth $15,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC bought a new stake in shares of Knight-Swift Transportation during the second quarter valued at approximately $1,343,000. Kestra Advisory Services LLC raised its position in shares of Knight-Swift Transportation by 12.7% during the second quarter. Kestra Advisory Services LLC now owns 4,499 shares of the transportation company’s stock valued at $250,000 after buying an additional 506 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Knight-Swift Transportation by 2.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 149,752 shares of the transportation company’s stock valued at $8,320,000 after buying an additional 2,980 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Knight-Swift Transportation by 10.7% during the second quarter. Franklin Resources Inc. now owns 23,265 shares of the transportation company’s stock valued at $1,293,000 after buying an additional 2,246 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Knight-Swift Transportation by 0.5% during the second quarter. Guggenheim Capital LLC now owns 247,972 shares of the transportation company’s stock valued at $13,777,000 after buying an additional 1,179 shares during the last quarter. Institutional investors own 87.88% of the company’s stock.

Insiders Place Their Bets

In other Knight-Swift Transportation news, EVP Timothy Sean Harrington sold 1,200 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $52.00, for a total value of $62,400.00. Following the completion of the transaction, the executive vice president now directly owns 5,278 shares in the company, valued at $274,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Knight-Swift Transportation news, EVP Timothy Sean Harrington sold 1,200 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $52.00, for a total value of $62,400.00. Following the completion of the transaction, the executive vice president now directly owns 5,278 shares in the company, valued at $274,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James L. Fitzsimmons sold 2,664 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $53.73, for a total transaction of $143,136.72. Following the completion of the transaction, the executive vice president now owns 4,632 shares of the company’s stock, valued at $248,877.36. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.

Knight-Swift Transportation Stock Down 1.0 %

Shares of KNX opened at $56.46 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $50.46 and a 200-day moving average price of $53.83. The firm has a market capitalization of $9.11 billion, a P/E ratio of 24.34, a P/E/G ratio of 1.76 and a beta of 1.18. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.73 and a 12-month high of $64.35.

Knight-Swift Transportation (NYSE:KNX – Get Free Report) last released its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.89 billion. Knight-Swift Transportation had a return on equity of 6.03% and a net margin of 5.41%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share. Equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.12 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.56 dividend on an annualized basis and a yield of 0.99%. Knight-Swift Transportation’s dividend payout ratio is presently 24.14%.

Wall Street Analysts Forecast Growth

KNX has been the topic of several research reports. Susquehanna reduced their price target on shares of Knight-Swift Transportation from $51.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 3rd. JPMorgan Chase & Co. raised shares of Knight-Swift Transportation from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $54.00 to $57.00 in a research note on Friday, October 20th. TD Cowen lifted their price objective on shares of Knight-Swift Transportation from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 29th. StockNews.com assumed coverage on shares of Knight-Swift Transportation in a research note on Thursday, October 5th. They set a “sell” rating for the company. Finally, Morgan Stanley lifted their price objective on shares of Knight-Swift Transportation from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Knight-Swift Transportation currently has an average rating of “Moderate Buy” and a consensus price target of $62.93.

Read Our Latest Analysis on KNX

Knight-Swift Transportation Profile

(Free Report)

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 transportations services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.