Barclays PLC, a multinational investment bank and financial services company, recently disclosed a reduction in its holdings of Knight-Swift Transportation Holdings Inc. The announcement was made in the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC). According to the filing, Barclays PLC trimmed its stake in Knight-Swift Transportation by 6.2% during the first quarter of this year.
The financial institution now owns approximately 186,350 shares of Knight-Swift Transportation’s stock after selling 12,395 shares during the quarter. This represents a decrease in their ownership by approximately 0.12%. As of the most recent filing with the SEC, Barclays PLC’s stake in Knight-Swift Transportation is valued at $10,544,000.
Knight-Swift Transportation has been the subject of various research reports as of late. Citigroup analysts recently decreased their price target on the stock from $66.00 to $65.00 while maintaining a “buy” rating for the company. Similarly, Stephens reiterated an “overweight” rating and set a price target of $68.00 for Knight-Swift Transportation shares.
On the other hand, Bank of America lowered their price target on shares of Knight-Swift Transportation from $70.00 to $67.00 but still maintained a “buy” rating on the stock. Additionally, StockNews.com downgraded its rating on Knight-Swift Transportation from a “hold” to a “sell” rating.
JPMorgan Chase & Co., however, took an alternative view and increased their price objective on shares of Knight-Swift Transportation from $54.00 to $55.00 while giving it an “underweight” rating.
Overall, numerous research analysts have given varied ratings to the stock: two have rated it as a sell, three have assigned it a hold rating, and thirteen have given it a buy rating. According to Bloomberg.com, Knight-Swift Transportation currently has an average rating of “Moderate Buy” and a consensus price target of $63.24.
On August 8, 2023, shares of NYSE:KNX were trading at $60.59. The transportation company’s financials reflect a quick ratio and current ratio of 1.99 each. Additionally, Knight-Swift Transportation has a debt-to-equity ratio of 0.26 and a market capitalization of $9.76 billion.
The stock boasts a price-to-earnings (PE) ratio of 19.17 and a price/earnings to growth (PEG) ratio of 1.82, indicating that the company may be considered undervalued by some investors when considering its future growth prospects.
Investors have observed that Knight-Swift Transportation’s stock has been exhibiting volatility over the past year, with lows reaching $45.63 and highs touching $64.35.
As with any investment decision, it is crucial for investors to conduct their own research and assessment, taking into account various factors such as ratings from analysts, financial ratios, and market trends before making any investment decisions related to Knight-Swift Transportation or any other stock for that matter.
In conclusion, Barclays PLC recently reduced its ownership in Knight-Swift Transportation Holdings Inc., according to a filing with the SEC. The stock has received mixed ratings from research analysts and is currently trading at $60.59 on the NYSE as of August 8th, 2023.
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Significant Shareholder Changes and Investor Interest in Knight-Swift Transportation
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”KNX” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Knight-Swift Transportation, a leading transportation company, has recently seen some significant changes in its shareholder positions. Several hedge funds have made adjustments to their stakes in the company, indicating a dynamic market and investor interest.
One notable player is Achmea Investment Management B.V., which increased its stake in Knight-Swift Transportation by 4.5% during the first quarter of this year. This strategic move resulted in Achmea Investment Management now owning 87,265 shares of the transportation company’s stock. The total value of their holdings amounts to an impressive $4,938,000 after acquiring an additional 3,794 shares during the last quarter.
Jump Financial LLC also entered the picture during the first quarter by acquiring a new position in Knight-Swift Transportation valued at approximately $601,000. This indicates that Jump Financial saw potential in investing in this particular transportation giant and decided to enter into a new position.
Kistler Tiffany Companies LLC also took notice of Knight-Swift Transportation’s potential and increased its stake by a substantial 74% during the first quarter. Kistler Tiffany Companies currently holds 6,674 shares of Knight-Swift Transportation’s stock valued at $378,000 after acquiring an additional 2,838 shares throughout the last quarter.
New Mexico Educational Retirement Board joined the list of institutional investors who recognize Knight-Swift Transportation’s value proposition. They boosted their position by 13.2% during the first quarter with ownership of 29,100 shares worth $1,646,000 after purchasing an additional 3,400 shares.
Venturi Wealth Management LLC closes out this group of institutional investors who have taken notice of Knight-Swift Transportation’s potential. Venturi Wealth Management bought a new position during the first quarter with an investment worth approximately $28,000.
The combined efforts of these institutional investors indicate their confidence in Knight-Swift Transportation’s future prospects. Currently, 87.51% of the company’s stock is owned by institutional investors, emphasizing their significant backing in the transportation giant.
In other news related to Knight-Swift Transportation, on August 2nd, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock at an average price of $59.00 per share, resulting in a total transaction value of $118,000.00. Following this sale, Flanagan now holds 5,880 shares in the company, valued at $346,920.
Similarly, Chairman Kevin P. Knight sold 100,000 shares of Knight-Swift Transportation’s stock on July 28th at an average price of $60.19 per share. The total transaction value was $6,019,000.00 and after the sale Knight directly holds 1,497,360 shares valued at approximately $90,126,098.40.
The recent quarter has also seen insider selling activity totaling 106,377 company shares with a combined value of $6,385,386. Insiders currently hold 3.20% ownership in the company’s stock.
Additionally worth mentioning is that Knight-Swift Transportation recently disclosed a quarterly dividend scheduled to be paid on September 25th to shareholders who are recorded as such on September 8th. The dividend payout stands at $0.14 per share representing an annualized dividend yield of 0.92%. Given the current annualized dividend payout ratio calculated at 17.72%, it highlights the commitment towards consistent returns for shareholders.
These events lend themselves towards analysts and investors diligently scrutinizing Knight-Swift Transportation as a potential investment opportunity for their portfolios. The data provided by these changes in shareholder positions and recent insider transactions give them some insight into the wider market dynamics surrounding this transportation giant.
Knight-Swift Transportation remains firmly positioned within its industry as it continues to attract investor interest and navigate the complexities of the transportation sector. It will be intriguing to observe how these recent developments shape the future trajectory of this prominent company.
