American Century Companies Inc. Acquires 270,372 Shares of Covenant Logistics Group, Inc. $CVLG

American Century Companies Inc. increased its holdings in Covenant Logistics Group, Inc. (NYSE:CVLG) by 128.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 480,722 shares of the company’s stock after buying an additional 270,372 shares during the period. American Century Companies Inc. owned about 1.81% of Covenant Logistics Group worth $10,672,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Covenant Logistics Group by 106.6% in the first quarter. Vanguard Group Inc. now owns 959,196 shares of the company’s stock worth $21,294,000 after purchasing an additional 494,825 shares during the last quarter. Patton Albertson Miller Group LLC grew its holdings in Covenant Logistics Group by 100.0% in the first quarter. Patton Albertson Miller Group LLC now owns 576,250 shares of the company’s stock worth $12,793,000 after purchasing an additional 288,125 shares during the last quarter. Foundry Partners LLC grew its holdings in Covenant Logistics Group by 100.9% in the first quarter. Foundry Partners LLC now owns 434,073 shares of the company’s stock worth $9,636,000 after purchasing an additional 217,993 shares during the last quarter. Royce & Associates LP grew its holdings in Covenant Logistics Group by 114.4% in the first quarter. Royce & Associates LP now owns 260,588 shares of the company’s stock worth $5,785,000 after purchasing an additional 139,044 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Covenant Logistics Group by 200.3% in the first quarter. Russell Investments Group Ltd. now owns 153,922 shares of the company’s stock worth $3,417,000 after purchasing an additional 102,672 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Covenant Logistics Group Price Performance

Shares of CVLG opened at $24.55 on Wednesday. The firm has a market capitalization of $614.24 million, a PE ratio of 18.74 and a beta of 1.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 1.06. Covenant Logistics Group, Inc. has a 1-year low of $17.46 and a 1-year high of $30.77. The company’s fifty day moving average price is $24.30 and its 200-day moving average price is $23.13.

Covenant Logistics Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.1%. Covenant Logistics Group’s payout ratio is presently 21.37%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Covenant Logistics Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $33.00.

Covenant Logistics Group Company Profile

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.