Comerica Bank Sells 88,486 Shares of Knight-Swift Transportation Holdings Inc (KNX)

Comerica Bank decreased its position in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 51.4% during the 3rd quarter, Holdings Channel reports. The fund owned 83,718 shares of the transportation company’s stock after selling 88,486 shares during the quarter. Comerica Bank’s holdings in Knight-Swift Transportation were worth $2,528,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in KNX. Nomura Holdings Inc. boosted its position in shares of Knight-Swift Transportation by 1,681.1% during the 2nd quarter. Nomura Holdings Inc. now owns 1,104,298 shares of the transportation company’s stock valued at $42,195,000 after acquiring an additional 1,042,298 shares during the last quarter. Citadel Advisors LLC boosted its position in shares of Knight-Swift Transportation by 28.3% during the 2nd quarter. Citadel Advisors LLC now owns 4,297,340 shares of the transportation company’s stock valued at $164,202,000 after acquiring an additional 947,818 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Knight-Swift Transportation by 111.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,699,478 shares of the transportation company’s stock valued at $64,937,000 after acquiring an additional 896,212 shares during the last quarter. Millennium Management LLC boosted its position in shares of Knight-Swift Transportation by 24.3% during the 2nd quarter. Millennium Management LLC now owns 4,563,750 shares of the transportation company’s stock valued at $174,381,000 after acquiring an additional 893,003 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in shares of Knight-Swift Transportation by 58.4% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,291,961 shares of the transportation company’s stock valued at $79,027,000 after acquiring an additional 844,673 shares during the last quarter. 89.55% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on KNX shares. Zacks Investment Research cut shares of Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. ValuEngine cut shares of Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. KeyCorp lowered their price target on shares of Knight-Swift Transportation from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, October 25th. Loop Capital started coverage on shares of Knight-Swift Transportation in a research report on Tuesday, October 2nd. They set a “buy” rating and a $45.00 price target on the stock. Finally, Goldman Sachs Group raised shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.00 to $48.00 in a research report on Thursday, November 8th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $48.24.

NYSE KNX opened at $32.65 on Monday. Knight-Swift Transportation Holdings Inc has a 12 month low of $29.00 and a 12 month high of $51.94. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 0.93 and a beta of 1.51.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, October 24th. The transportation company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. Knight-Swift Transportation had a net margin of 13.47% and a return on equity of 7.26%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. Knight-Swift Transportation’s revenue for the quarter was up 158.2% compared to the same quarter last year. As a group, analysts predict that Knight-Swift Transportation Holdings Inc will post 2.35 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Monday, December 3rd will be given a $0.06 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.74%. Knight-Swift Transportation’s payout ratio is currently 17.39%.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://www.wkrb13.com/2018/11/26/comerica-bank-sells-88486-shares-of-knight-swift-transportation-holdings-inc-knx.html.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

Further Reading: Dividend Aristocrat Index

Want to see what other hedge funds are holding KNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Knight-Swift Transportation Holdings Inc (NYSE:KNX).

Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

Receive News & Ratings for Knight-Swift Transportation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Knight-Swift Transportation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply