Insider Selling: W Keith Kennedy, Jr. Sells 3,000 Shares of Con-way Stock (CNW)
Con-way (NYSE:CNW) Director W Keith Kennedy, Jr. unloaded 3,000 shares of the stock on the open market in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $50.80, for a total transaction of $152,400.00. Following the completion of the transaction, the director now directly owns 27,247 shares of the company’s stock, valued at approximately $1,384,148. The sale was disclosed in a filing with the SEC, which is available at this link.
CNW has been the subject of a number of recent research reports. Analysts at Wunderlich upgraded shares of Con-way from a “hold” rating to a “buy” rating in a research note on Friday, June 13th. They now have a $57.00 price target on the stock, up previously from $44.00. Separately, analysts at Zacks upgraded shares of Con-way from an “underperform” rating to a “neutral” rating in a research note on Monday, May 5th. They now have a $45.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.38.
Con-way (NYSE:CNW) traded up 0.02% on Tuesday, hitting $50.42. 1,060,736 shares of the company’s stock traded hands. Con-way has a one year low of $36.34 and a one year high of $50.98. The stock has a 50-day moving average of $47.26 and a 200-day moving average of $42.00. The company has a market cap of $2.877 billion and a price-to-earnings ratio of 29.71.
Con-way (NYSE:CNW) last released its earnings data on Wednesday, April 30th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Analysts expect that Con-way will post $2.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Wednesday, August 13th.
Con-way Inc and its subsidiaries (NYSE:CNW) provides transportation, logistics and supply-chain management services for a range of manufacturing, industrial and retail customers.
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