Knight Transportation said on February 3, 2023 that its board of directors declared a regular quarterly dividend of $0.14 per share ($0.56 annualized). Shareholders of record as of March 2, 2023 will receive the payment on March 27, 2023. Previously, the company paid $0.12 per share.
At the current share price of $61.07 / share, the stock's dividend yield is 0.92%. Looking back five years and taking a sample every week, the average dividend yield has been 0.77%, the lowest has been 0.48%, and the highest has been 1.11%. The standard deviation of yields is 0.12 (n=236).
The current dividend yield is 1.16 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 1.00%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 2.38% Upside
As of February 6, 2023, the average one-year price target for Knight Transportation is $62.53. The forecasts range from a low of $46.46 to a high of $92.40. The average price target represents an increase of 2.38% from its latest reported closing price of $61.07.
The projected annual revenue for Knight Transportation is $7,268MM, a decrease of 2.16%. The projected annual EPS is $4.31, a decrease of 9.28%.
Fund Sentiment
There are 1031 funds or institutions reporting positions in Knight Transportation. This is a decrease of 24 owner(s) or 2.27%.
Average portfolio weight of all funds dedicated to US:KNX is 0.3228%, an increase of 7.5310%. Total shares owned by institutions increased in the last three months by 2.26% to 171,705K shares.
What are large shareholders doing?
Wellington Management Group Llp holds 13,204,880 shares representing 8.22% ownership of the company. In it's prior filing, the firm reported owning 9,707,449 shares, representing an increase of 26.49%. The firm increased its portfolio allocation in KNX by 52.07% over the last quarter.
Alliancebernstein holds 7,049,067 shares representing 4.39% ownership of the company. In it's prior filing, the firm reported owning 7,281,205 shares, representing a decrease of 3.29%. The firm decreased its portfolio allocation in KNX by 8.14% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 4,694,976 shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 4,691,152 shares, representing an increase of 0.08%. The firm increased its portfolio allocation in KNX by 6.32% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,571,469 shares representing 2.84% ownership of the company. In it's prior filing, the firm reported owning 4,583,733 shares, representing a decrease of 0.27%. The firm increased its portfolio allocation in KNX by 9.89% over the last quarter.
VWNDX - Vanguard Windsor Fund Investor Shares holds 4,231,641 shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 3,825,438 shares, representing an increase of 9.60%. The firm decreased its portfolio allocation in KNX by 0.29% over the last quarter.
Knight-Swift Transportation Holdings Background Information
(This description is provided by the company.)
Swift Transportation Inc. is a provider of multiple truckload transportation and logistics services using a nationwide network of business units and terminals in the United States and Mexico to serve customers throughout North America. In addition to operating the country's largest tractor fleet, Swift also contracts with third-party equipment providers to provide a broad range of truckload services to its customers while creating quality driving jobs for our driving associates and successful business opportunities for independent contractors.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
