Copeland Capital Management LLC Has $84,000 Stock Position in Covenant Logistics Group, Inc. $CVLG

Copeland Capital Management LLC lifted its holdings in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 47.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,482 shares of the company’s stock after purchasing an additional 1,121 shares during the quarter. Copeland Capital Management LLC’s holdings in Covenant Logistics Group were worth $84,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Patton Albertson Miller Group LLC grew its stake in Covenant Logistics Group by 0.7% in the 2nd quarter. Patton Albertson Miller Group LLC now owns 580,528 shares of the company’s stock valued at $13,997,000 after buying an additional 4,278 shares during the last quarter. North Star Investment Management Corp. acquired a new position in Covenant Logistics Group in the 2nd quarter valued at $301,000. Oliver Luxxe Assets LLC grew its stake in Covenant Logistics Group by 1.3% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 73,978 shares of the company’s stock valued at $1,784,000 after buying an additional 958 shares during the last quarter. Kings Path Partners LLC acquired a new position in Covenant Logistics Group in the 2nd quarter valued at $257,000. Finally, Goldman Sachs Group Inc. grew its stake in Covenant Logistics Group by 161.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,304 shares of the company’s stock valued at $3,981,000 after buying an additional 110,810 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

CVLG has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Covenant Logistics Group in a research note on Saturday, September 27th. Wall Street Zen downgraded shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.00.

Covenant Logistics Group Price Performance

NYSE:CVLG opened at $21.59 on Friday. The company has a 50-day moving average of $23.39 and a 200-day moving average of $22.72. The company has a market capitalization of $540.18 million, a price-to-earnings ratio of 16.48 and a beta of 1.39. Covenant Logistics Group, Inc. has a 52 week low of $17.46 and a 52 week high of $30.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.09.

Covenant Logistics Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. Covenant Logistics Group’s payout ratio is 21.37%.

Covenant Logistics Group Company Profile

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.