Ronald Greer Woodruff, Executive Vice President of J.B. Hunt Transport Services, Inc., sold 1,391 shares of the company’s stock on January 21, 2024. The shares were sold at an average price of $207.00, generating a total transaction value of $287,937.00. Following this sale, Woodruff’s ownership decreased by 25.71%, leaving him with 4,019 shares valued at approximately $831,933. This transaction was reported in a filing with the U.S. Securities and Exchange Commission (SEC).
The market performance of J.B. Hunt has shown notable fluctuations. On January 19, 2024, the stock opened at $206.75. The company’s 50-day moving average price stands at $192.24, while the 200-day moving average is $163.74. Over the past year, the stock has reached a low of $122.79 and a high of $212.00. J.B. Hunt currently boasts a market capitalization of $19.69 billion with a price-to-earnings ratio of 33.67 and a beta of 1.27.
In its most recent quarterly earnings report issued on January 15, 2024, J.B. Hunt reported earnings per share (EPS) of $1.90, exceeding analyst expectations by $0.09. Revenue for the quarter matched estimates at $3.10 billion, although this figure represented a 1.6% decline compared to the same quarter last year. The company achieved a net margin of 4.99% and a return on equity of 16.33%.
Dividend Increase and Institutional Investment Trends
In a positive development, J.B. Hunt announced an increase in its quarterly dividend, set to be paid on February 20, 2024. Shareholders of record on February 6, 2024 will receive a dividend of $0.45 per share, up from the previous $0.44. This change reflects an annualized dividend of $1.80 and a yield of 0.9%. The company’s dividend payout ratio currently stands at 28.66%.
Recent activity among institutional investors indicates a growing interest in J.B. Hunt’s stock. State Street Corp increased its holdings by 7.1% during the second quarter, now owning over 4.12 million shares valued at approximately $592 million. Additionally, AQR Capital Management LLC raised its stake by 77.2% in the third quarter, now holding 3.19 million shares worth about $426 million. Other notable investors, such as JPMorgan Chase & Co. and Invesco Ltd., have also increased their positions, reflecting a trend where institutional investors own nearly 75% of the company’s stock.
Analyst Ratings and Future Outlook
Analysts have recently adjusted their ratings on J.B. Hunt’s stock. Susquehanna upgraded the company from a “neutral” to a “positive” rating, raising its price target from $160.00 to $240.00. Similarly, Wolfe Research reiterated an “outperform” rating with a target price of $214.00. The Goldman Sachs Group also raised its price objective from $169.00 to $187.00, while Raymond James Financial increased its target to $175.00.
Currently, J.B. Hunt Transport Services has received an average rating of “Moderate Buy” with a consensus target price of $200.05, based on data from MarketBeat.com. As the company continues to navigate the transportation and logistics landscape, these developments suggest a mix of positive momentum and challenges ahead.
