1492 Capital Management LLC acquired a new stake in Knight-Swift Transportation Holdings Inc (NYSE:KNX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 80,431 shares of the transportation company’s stock, valued at approximately $3,516,000. Knight-Swift Transportation accounts for 2.7% of 1492 Capital Management LLC’s portfolio, making the stock its 8th biggest holding.
Several other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its position in shares of Knight-Swift Transportation by 3.0% in the fourth quarter. Raymond James & Associates now owns 36,323 shares of the transportation company’s stock valued at $1,588,000 after acquiring an additional 1,061 shares during the period. California State Teachers Retirement System boosted its position in shares of Knight-Swift Transportation by 3.1% in the fourth quarter. California State Teachers Retirement System now owns 207,350 shares of the transportation company’s stock valued at $9,065,000 after acquiring an additional 6,317 shares during the period. Stone Ridge Asset Management LLC bought a new position in shares of Knight-Swift Transportation in the fourth quarter valued at approximately $1,509,000. QS Investors LLC bought a new position in shares of Knight-Swift Transportation in the fourth quarter valued at approximately $6,348,000. Finally, AMP Capital Investors Ltd bought a new position in shares of Knight-Swift Transportation in the fourth quarter valued at approximately $879,000. Institutional investors own 80.52% of the company’s stock.
KNX has been the subject of a number of analyst reports. Knight Equity upgraded shares of Knight-Swift Transportation to a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research lowered shares of Knight-Swift Transportation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 14th. KeyCorp lifted their target price on shares of Knight-Swift Transportation from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Morgan Stanley began coverage on shares of Knight-Swift Transportation in a research report on Wednesday, December 13th. They set an “overweight” rating and a $50.00 target price for the company. Finally, Barclays upgraded shares of Knight-Swift Transportation from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $47.00 to $50.00 in a research report on Thursday, February 1st. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $49.60.
Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Tuesday, January 30th. The transportation company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.39 by $0.13. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. Knight-Swift Transportation had a net margin of 12.58% and a return on equity of 5.92%. The business’s revenue was up 370.2% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. sell-side analysts predict that Knight-Swift Transportation Holdings Inc will post 2.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 27th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Wednesday, February 28th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 5.53%.
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Knight-Swift Transportation Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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