Bank of New York Mellon Corp Has $77.65 Million Stock Position in Knight-Swift Transportation Holdings Inc. $KNX

Bank of New York Mellon Corp decreased its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,348,564 shares of the transportation company’s stock after selling 37,091 shares during the quarter. Bank of New York Mellon Corp’s holdings in Knight-Swift Transportation were worth $77,650,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Knight-Swift Transportation by 23.6% in the 4th quarter. Wellington Management Group LLP now owns 12,918,523 shares of the transportation company’s stock valued at $675,380,000 after purchasing an additional 2,468,293 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Knight-Swift Transportation by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,397,338 shares of the transportation company’s stock valued at $439,016,000 after purchasing an additional 129,651 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Knight-Swift Transportation by 7.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,676,422 shares of the transportation company’s stock valued at $244,250,000 after purchasing an additional 315,192 shares during the last quarter. Ensign Peak Advisors Inc increased its position in Knight-Swift Transportation by 50.4% during the 4th quarter. Ensign Peak Advisors Inc now owns 2,939,212 shares of the transportation company’s stock worth $153,662,000 after purchasing an additional 984,422 shares in the last quarter. Finally, UBS Group AG increased its position in Knight-Swift Transportation by 44.3% during the 4th quarter. UBS Group AG now owns 2,430,896 shares of the transportation company’s stock worth $127,087,000 after purchasing an additional 745,787 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KNX has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their target price on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Barclays upped their price target on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Wells Fargo & Company increased their price target on Knight-Swift Transportation from $65.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Benchmark raised their price objective on Knight-Swift Transportation from $75.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Robert W. Baird boosted their price objective on Knight-Swift Transportation from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $80.44.

Knight-Swift Transportation Trading Up 1.4%

KNX opened at $76.73 on Wednesday. Knight-Swift Transportation Holdings Inc. has a twelve month low of $38.63 and a twelve month high of $82.86. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average of $75.13 and a 200-day moving average of $64.61. The stock has a market cap of $12.47 billion, a PE ratio of 365.42, a price-to-earnings-growth ratio of 0.84 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.21 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, June 8th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 380.95%.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.