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

Bank of New York Mellon Corp cut its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,348,564 shares of the transportation company’s stock after selling 37,091 shares during the period. Bank of New York Mellon Corp owned about 0.83% of Knight-Swift Transportation worth $77,650,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KNX. Integrated Wealth Concepts LLC grew its position in shares of Knight-Swift Transportation by 23.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,948 shares of the transportation company’s stock valued at $259,000 after purchasing an additional 1,124 shares during the period. Focus Partners Wealth bought a new stake in Knight-Swift Transportation during the 1st quarter worth approximately $451,000. Cetera Investment Advisers increased its stake in Knight-Swift Transportation by 6.9% during the 2nd quarter. Cetera Investment Advisers now owns 13,724 shares of the transportation company’s stock worth $607,000 after purchasing an additional 882 shares in the last quarter. Invesco Ltd. raised its holdings in Knight-Swift Transportation by 57.7% during the 2nd quarter. Invesco Ltd. now owns 1,087,719 shares of the transportation company’s stock worth $48,110,000 after buying an additional 398,116 shares during the period. Finally, First Trust Advisors LP raised its holdings in Knight-Swift Transportation by 54.3% during the 2nd quarter. First Trust Advisors LP now owns 491,702 shares of the transportation company’s stock worth $21,748,000 after buying an additional 172,956 shares during the period. 88.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KNX. Stifel Nicolaus upped their price target on shares of Knight-Swift Transportation from $70.00 to $85.00 and gave the company a “buy” rating in a report on Monday, July 13th. Citizens Jmp initiated coverage on shares of Knight-Swift Transportation in a report on Wednesday, July 15th. They set a “market outperform” rating and a $90.00 price objective on the stock. Barclays boosted their price objective on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. TD Cowen upped their target price on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group increased their target price on Knight-Swift Transportation from $65.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation presently has an average rating of “Buy” and a consensus price target of $80.44.

Knight-Swift Transportation Price Performance

NYSE:KNX opened at $76.73 on Wednesday. Knight-Swift Transportation Holdings Inc. has a 52-week low of $38.63 and a 52-week high of $82.86. The company has a market cap of $12.47 billion, a P/E ratio of 365.42, a P/E/G ratio of 0.84 and a beta of 1.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s 50-day simple moving average is $75.13 and its 200 day simple moving average is $64.61.

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

Knight-Swift Transportation Dividend Announcement

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

Knight-Swift Transportation Company Profile

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.