Metis Global Partners LLC Reduces Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Metis Global Partners LLC decreased its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,371 shares of the transportation company’s stock after selling 425 shares during the quarter. Metis Global Partners LLC’s holdings in Knight-Swift Transportation were worth $344,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators lifted its position in shares of Knight-Swift Transportation by 87.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock worth $40,000 after buying an additional 348 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Knight-Swift Transportation by 3,461.9% in the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after buying an additional 727 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in Knight-Swift Transportation by 28.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after acquiring an additional 200 shares in the last quarter. Blue Trust Inc. lifted its position in Knight-Swift Transportation by 168.3% in the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 579 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Knight-Swift Transportation by 50.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 343 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $56.22 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.55 and a 12-month high of $60.99. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 244.45, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The stock has a 50 day simple moving average of $53.18 and a 200-day simple moving average of $51.13.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. Knight-Swift Transportation’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share. On average, equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio is currently 278.27%.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total value of $28,550.00. Following the sale, the director now owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. This represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kevin P. Knight sold 29,779 shares of Knight-Swift Transportation stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com upgraded Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. TD Cowen boosted their price objective on Knight-Swift Transportation from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Stifel Nicolaus raised their target price on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, Citigroup downgraded shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective on the stock. in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Knight-Swift Transportation currently has an average rating of “Hold” and a consensus target price of $56.38.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.