Canada Pension Plan Investment Board lessened its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 46.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 270,304 shares of the transportation company’s stock after selling 235,394 shares during the period. Canada Pension Plan Investment Board owned 0.22% of Alaska Air Group worth $17,275,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC raised its position in shares of Alaska Air Group by 24.1% in the 2nd quarter. Gateway Investment Advisers LLC now owns 118,594 shares of the transportation company’s stock worth $7,579,000 after acquiring an additional 23,067 shares in the last quarter. Alta Capital Management LLC acquired a new stake in Alaska Air Group during the second quarter worth approximately $232,000. Machina Capital S.A.S. bought a new stake in Alaska Air Group in the second quarter worth approximately $68,000. AlphaMark Advisors LLC bought a new stake in Alaska Air Group in the first quarter worth approximately $2,227,000. Finally, Cognios Capital LLC increased its holdings in Alaska Air Group by 26.8% in the first quarter. Cognios Capital LLC now owns 39,832 shares of the transportation company’s stock worth $2,234,000 after purchasing an additional 8,425 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company’s stock.
ALK has been the topic of a number of research analyst reports. TheStreet upgraded Alaska Air Group from a “c” rating to a “b” rating in a report on Thursday, July 25th. Imperial Capital reiterated an “in-line” rating and issued a $70.00 price objective (up previously from $68.00) on shares of Alaska Air Group in a research note on Tuesday, August 6th. Morgan Stanley boosted their target price on shares of Alaska Air Group from $76.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. ValuEngine lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Citigroup set a $66.00 price target on shares of Alaska Air Group and gave the stock a “hold” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Alaska Air Group has an average rating of “Buy” and a consensus price target of $73.36.
In other news, VP Kyle B. Levine sold 2,430 shares of Alaska Air Group stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $157,950.00. Following the completion of the transaction, the vice president now directly owns 8,039 shares in the company, valued at $522,535. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.43% of the stock is owned by company insiders.
Shares of ALK opened at $64.99 on Wednesday. The business’s fifty day moving average is $61.85 and its 200 day moving average is $60.80. Alaska Air Group, Inc. has a 12-month low of $53.39 and a 12-month high of $74.83. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.75. The stock has a market cap of $7.98 billion, a P/E ratio of 14.57, a P/E/G ratio of 0.51 and a beta of 0.86.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, July 25th. The transportation company reported $2.17 EPS for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.06. Alaska Air Group had a net margin of 6.00% and a return on equity of 16.28%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the business posted $1.66 EPS. Alaska Air Group’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts expect that Alaska Air Group, Inc. will post 5.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 20th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Monday, August 19th. Alaska Air Group’s dividend payout ratio (DPR) is 31.39%.
Alaska Air Group Profile
Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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