Sumitomo Mitsui Asset Management Company LTD Reduces Stake in J.B. Hunt Transport Services, Inc. (JBHT)

Sumitomo Mitsui Asset Management Company LTD reduced its stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 13.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,842 shares of the transportation company’s stock after selling 1,037 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in J.B. Hunt Transport Services were worth $625,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in JBHT. Vanguard Group Inc. increased its position in shares of J.B. Hunt Transport Services by 4.1% in the first quarter. Vanguard Group Inc. now owns 9,393,838 shares of the transportation company’s stock valued at $861,790,000 after buying an additional 370,811 shares during the last quarter. BlackRock Inc. increased its position in shares of J.B. Hunt Transport Services by 2,611.8% in the first quarter. BlackRock Inc. now owns 6,252,515 shares of the transportation company’s stock valued at $573,604,000 after buying an additional 6,021,944 shares during the last quarter. State Street Corp increased its position in shares of J.B. Hunt Transport Services by 0.6% in the first quarter. State Street Corp now owns 3,804,690 shares of the transportation company’s stock valued at $349,041,000 after buying an additional 22,884 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of J.B. Hunt Transport Services by 3.2% in the first quarter. Bank of New York Mellon Corp now owns 2,124,201 shares of the transportation company’s stock valued at $194,874,000 after buying an additional 65,132 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of J.B. Hunt Transport Services by 9.7% in the first quarter. Geode Capital Management LLC now owns 972,711 shares of the transportation company’s stock valued at $89,125,000 after buying an additional 85,950 shares during the last quarter. Institutional investors and hedge funds own 73.14% of the company’s stock.

Shares of J.B. Hunt Transport Services, Inc. (NASDAQ JBHT) traded down 0.27% during trading on Friday, hitting $96.63. The stock had a trading volume of 988,850 shares. The stock has a 50-day moving average of $92.51 and a 200 day moving average of $91.93. The firm has a market cap of $10.57 billion, a price-to-earnings ratio of 25.35 and a beta of 0.94. J.B. Hunt Transport Services, Inc. has a 12-month low of $76.20 and a 12-month high of $102.38.

J.B. Hunt Transport Services (NASDAQ:JBHT) last issued its earnings results on Monday, July 17th. The transportation company reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.04. J.B. Hunt Transport Services had a return on equity of 30.00% and a net margin of 6.32%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the company earned $0.92 EPS. J.B. Hunt Transport Services’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts predict that J.B. Hunt Transport Services, Inc. will post $3.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, August 3rd. J.B. Hunt Transport Services’s payout ratio is 24.08%.

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Several research analysts have recently weighed in on the company. Wells Fargo & Company reaffirmed an “outperform” rating and set a $105.00 target price (up from $100.00) on shares of J.B. Hunt Transport Services in a research note on Tuesday, July 18th. Stifel Nicolaus reaffirmed a “hold” rating and set a $88.00 target price on shares of J.B. Hunt Transport Services in a research note on Friday, June 23rd. Loop Capital reissued a “buy” rating and issued a $103.00 price objective (down from $105.00) on shares of J.B. Hunt Transport Services in a research note on Saturday, July 22nd. Zacks Investment Research raised J.B. Hunt Transport Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub downgraded J.B. Hunt Transport Services from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $98.73.

In related news, Chairman James K. Thompson sold 8,503 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $91.76, for a total value of $780,235.28. Following the completion of the transaction, the chairman now owns 51,846 shares of the company’s stock, valued at $4,757,388.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Kuhlow sold 810 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $93.71, for a total value of $75,905.10. Following the completion of the transaction, the senior vice president now directly owns 3,999 shares of the company’s stock, valued at approximately $374,746.29. The disclosure for this sale can be found here. Insiders sold 37,148 shares of company stock valued at $3,433,555 in the last ninety days. Company insiders own 4.30% of the company’s stock.

About J.B. Hunt Transport Services

J.B. Hunt Transport Services, Inc is a surface transportation, delivery, and logistics company in North America. The Company segments include Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS) and Truck (JBT). The Company, through its subsidiaries, provides transportation and delivery services to a range of customers and consumers throughout the continental United States, Canada and Mexico.

Institutional Ownership by Quarter for J.B. Hunt Transport Services (NASDAQ:JBHT)

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