SkyWest, Inc. (SKYW) Position Lessened by California Public Employees Retirement System
California Public Employees Retirement System reduced its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 166,552 shares of the transportation company’s stock after selling 8,222 shares during the period. California Public Employees Retirement System’s holdings in SkyWest were worth $8,844,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its holdings in SkyWest by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,390 shares of the transportation company’s stock valued at $1,383,000 after purchasing an additional 712 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in SkyWest by 10.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,455 shares of the transportation company’s stock valued at $156,000 after purchasing an additional 419 shares during the period. Crossmark Global Holdings Inc. bought a new stake in SkyWest in the 3rd quarter valued at $714,000. Victory Capital Management Inc. boosted its holdings in SkyWest by 87.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,420,063 shares of the transportation company’s stock valued at $62,340,000 after purchasing an additional 660,859 shares during the period. Finally, IndexIQ Advisors LLC boosted its holdings in SkyWest by 83.0% in the 3rd quarter. IndexIQ Advisors LLC now owns 25,305 shares of the transportation company’s stock valued at $1,111,000 after purchasing an additional 11,480 shares during the period. 91.15% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on SKYW. Zacks Investment Research downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Imperial Capital increased their price target on shares of SkyWest from $47.00 to $55.00 and gave the company an “in-line” rating in a report on Tuesday, February 6th. BidaskClub downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Cowen increased their price target on shares of SkyWest from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Raymond James Financial increased their price target on shares of SkyWest from $62.00 to $65.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.00.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, February 1st. The transportation company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. SkyWest had a net margin of 13.39% and a return on equity of 12.08%. The company had revenue of $797.20 million during the quarter, compared to analysts’ expectations of $778.13 million. During the same quarter in the prior year, the company posted $0.54 EPS. The business’s revenue was up 5.2% on a year-over-year basis. sell-side analysts forecast that SkyWest, Inc. will post 4.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Stockholders of record on Friday, March 30th will be paid a $0.10 dividend. This is a boost from SkyWest’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, March 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.73%. SkyWest’s dividend payout ratio is currently 9.33%.
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SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
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