CIBC Asset Management Inc Acquires 4,208 Shares of Delta Air Lines, Inc. (NYSE:DAL)

CIBC Asset Management Inc boosted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,914 shares of the transportation company’s stock after purchasing an additional 4,208 shares during the quarter. CIBC Asset Management Inc’s holdings in Delta Air Lines were worth $5,924,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. raised its stake in Delta Air Lines by 5.4% during the third quarter. Crossmark Global Holdings Inc. now owns 268,636 shares of the transportation company’s stock worth $13,644,000 after acquiring an additional 13,802 shares in the last quarter. KBC Group NV grew its holdings in shares of Delta Air Lines by 143.7% during the third quarter. KBC Group NV now owns 56,611 shares of the transportation company’s stock worth $2,876,000 after purchasing an additional 33,378 shares during the last quarter. Olstein Capital Management L.P. grew its holdings in shares of Delta Air Lines by 32.6% during the third quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock worth $8,888,000 after purchasing an additional 43,000 shares during the last quarter. Donoghue Forlines LLC bought a new stake in shares of Delta Air Lines during the fourth quarter worth about $2,036,000. Finally, River Road Asset Management LLC grew its holdings in shares of Delta Air Lines by 22.8% during the third quarter. River Road Asset Management LLC now owns 130,608 shares of the transportation company’s stock worth $6,634,000 after purchasing an additional 24,249 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. UBS Group restated a “buy” rating and set a $88.00 price target on shares of Delta Air Lines in a report on Tuesday, November 26th. Barclays boosted their price target on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Citigroup boosted their price target on Delta Air Lines from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. The Goldman Sachs Group restated a “buy” rating and set a $83.00 price target on shares of Delta Air Lines in a report on Friday, November 15th. Finally, TD Cowen boosted their price target on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $78.22.

Insiders Place Their Bets

In other news, SVP William C. Carroll sold 8,400 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $66.02, for a total transaction of $554,568.00. Following the transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at $1,304,291.12. This represents a 29.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rahul D. Samant sold 38,023 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $64.89, for a total value of $2,467,312.47. Following the transaction, the executive vice president now directly owns 52,789 shares in the company, valued at $3,425,478.21. The trade was a 41.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,886 shares of company stock worth $11,116,463. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $65.04 on Thursday. The stock has a market capitalization of $42.05 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.77 and a beta of 1.36. Delta Air Lines, Inc. has a 52-week low of $37.29 and a 52-week high of $69.98. The stock’s 50 day moving average price is $64.26 and its two-hundred day moving average price is $56.11. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. The firm had revenue of $15.56 billion for the quarter, compared to analysts’ expectations of $14.20 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 EPS. On average, equities analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 27th. Delta Air Lines’s payout ratio is 11.26%.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.