Knight Transportation (KNX) Declares $0.14 Dividend

Knight Transportation said on February 3, 2023 that its board of directors had declared a regular quarterly dividend of $0.14 per share ($0.56 annualized). Shareholders of record as of March 2, 2023 will receive payment on March 27, 2023. Previously, the company paid $0.12 per share.

At the current share price of $61.07/share, the dividend yield of the stock is 0.92%. Looking back five years and taking a sample each week, the average dividend yield was 0.77%, the lowest 0.48% and the highest 1.11%. The standard deviation of returns 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 as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into 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 one-year average price target for Knight Transportation was $62.53. The predictions range from a low of $46.46 to a high of $92.40. The average price target represents a 2.38% increase from its last reported closing price of $61.07.

Expected annual revenue for Knight Transportation is $7,268 million, down 2.16%. Projected annual EPS is $4.31, down 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 US dedicated: KNX is 0.3228%, an increase of 7.5310%. The total number of shares held by institutions has increased over the past three months by 2.26% to 171,705,000 shares.

What are the big shareholders doing?

Wellington Management Group Llp holds 13,204,880 shares representing 8.22% ownership of the company. In its previous filing, the company said it held 9,707,449 shares, representing
a raise
of 26.49%. The company

increase

its portfolio allocation in KNX of 52.07% during the last quarter.

Alliancebernstein holds 7,049,067 shares representing 4.39% ownership of the company. In its previous filing, the company said it held 7,281,205 shares, representing
a decrease
of 3.29%. The company

decreases

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 its previous filing, the company said it held 4,691,152 shares, representing
a raise
by 0.08%. The company

increase

its portfolio allocation in KNX by 6.32% in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 4,571,469 shares representing 2.84% ownership of the company. In its previous filing, the company said it held 4,583,733 shares, representing
a decrease
by 0.27%. The company

increase

its portfolio allocation in KNX by 9.89% over the last quarter.

VWNDX – Vanguard Windsor Fund Investor Shares owns 4,231,641 shares representing 2.63% ownership of the company. In its previous file, the company stated that it held 3,825,438 shares, representing
a raise
of 9.60%. The company

decreases

its portfolio allocation in KNX by 0.29% over the last quarter.

General information about Knight-Swift Transportation Holdings
(This description is provided by the company.)

Swift Transportation Inc. is a provider of multiple truckload transportation and logistics services using a national network of business units and terminals in the United States and Mexico to serve customers throughout North America. In addition to operating the largest fleet of tractors in the country, Swift also contracts with third-party equipment providers to provide a wide range of truckload services to its customers while creating quality driving jobs for our driving associates and successful business opportunities for independent entrepreneurs.

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.