Alaska Air Group, Inc. (ALK) Stake Lowered by Wells Fargo & Company MN
Wells Fargo & Company MN lowered its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 10.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 498,827 shares of the transportation company’s stock after selling 60,050 shares during the quarter. Wells Fargo & Company MN’s holdings in Alaska Air Group were worth $36,669,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of ALK. Nationwide Fund Advisors grew its position in Alaska Air Group by 8.2% in the 3rd quarter. Nationwide Fund Advisors now owns 165,134 shares of the transportation company’s stock valued at $12,595,000 after purchasing an additional 12,499 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Alaska Air Group in the 3rd quarter valued at $706,000. Victory Capital Management Inc. grew its position in Alaska Air Group by 67.2% in the 3rd quarter. Victory Capital Management Inc. now owns 783,102 shares of the transportation company’s stock valued at $59,728,000 after purchasing an additional 314,673 shares during the period. Westpac Banking Corp acquired a new stake in Alaska Air Group in the 3rd quarter valued at $5,019,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in Alaska Air Group in the 3rd quarter valued at $207,000. 88.17% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on ALK shares. Standpoint Research started coverage on shares of Alaska Air Group in a research report on Monday, December 18th. They issued a “buy” rating and a $90.00 price target for the company. ValuEngine raised shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Morgan Stanley set a $78.00 price target on shares of Alaska Air Group and gave the company a “buy” rating in a research report on Thursday, November 16th. Stifel Nicolaus reissued a “buy” rating and issued a $105.00 price target (down previously from $115.00) on shares of Alaska Air Group in a research report on Wednesday, January 10th. Finally, Buckingham Research reduced their price target on shares of Alaska Air Group from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $87.53.
Alaska Air Group, Inc. (ALK) opened at $63.38 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.77 and a current ratio of 0.79. The stock has a market cap of $7,795.55, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 3.25 and a beta of 0.84. Alaska Air Group, Inc. has a fifty-two week low of $59.25 and a fifty-two week high of $99.21.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.83 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.83. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. Alaska Air Group had a net margin of 12.96% and a return on equity of 24.39%. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.56 EPS. sell-side analysts anticipate that Alaska Air Group, Inc. will post 5.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.02%. This is an increase from Alaska Air Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, February 16th. Alaska Air Group’s payout ratio is currently 15.46%.
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Alaska Air Group Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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