Lateef Investment Management L.P. grew its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 3.5% in the 4th quarter, Holdings Channel reports. The fund owned 329,141 shares of the transportation company’s stock after acquiring an additional 11,110 shares during the period. Alaska Air Group comprises about 2.3% of Lateef Investment Management L.P.’s holdings, making the stock its 20th largest position. Lateef Investment Management L.P.’s holdings in Alaska Air Group were worth $24,195,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in ALK. Nationwide Fund Advisors increased its stake in Alaska Air Group by 8.2% during the third quarter. Nationwide Fund Advisors now owns 165,134 shares of the transportation company’s stock worth $12,595,000 after acquiring an additional 12,499 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Alaska Air Group during the third quarter worth about $706,000. State of Wisconsin Investment Board increased its stake in Alaska Air Group by 6.3% during the third quarter. State of Wisconsin Investment Board now owns 26,699 shares of the transportation company’s stock worth $2,036,000 after acquiring an additional 1,584 shares during the last quarter. American Century Companies Inc. increased its stake in Alaska Air Group by 3.5% during the third quarter. American Century Companies Inc. now owns 77,090 shares of the transportation company’s stock worth $5,880,000 after acquiring an additional 2,610 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Alaska Air Group by 34.8% during the third quarter. Daiwa Securities Group Inc. now owns 22,924 shares of the transportation company’s stock worth $1,749,000 after acquiring an additional 5,924 shares during the last quarter. Institutional investors own 86.42% of the company’s stock.
Several brokerages have commented on ALK. Morgan Stanley set a $78.00 price target on Alaska Air Group and gave the stock a “buy” rating in a research note on Friday, February 23rd. UBS Group lowered Alaska Air Group from a “buy” rating to a “neutral” rating in a research note on Thursday, February 15th. Imperial Capital restated an “in-line” rating and set a $66.00 price target (down from $70.00) on shares of Alaska Air Group in a research note on Thursday, February 1st. JPMorgan Chase & Co. lowered Alaska Air Group from a “neutral” rating to an “underweight” rating and upped their price target for the stock from $65.48 to $67.00 in a research note on Tuesday, January 30th. Finally, Buckingham Research dropped their price target on Alaska Air Group from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $87.53.
Shares of Alaska Air Group, Inc. (ALK) opened at $64.91 on Monday. Alaska Air Group, Inc. has a 1 year low of $59.25 and a 1 year high of $98.30. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $7,970.18, a PE ratio of 7.83, a PEG ratio of 3.33 and a beta of 0.84.
Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, January 25th. The transportation company reported $0.83 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. Alaska Air Group had a return on equity of 24.39% and a net margin of 12.96%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the business earned $1.56 earnings per share. The company’s revenue was up 28.7% compared to the same quarter last year. research analysts expect that Alaska Air Group, Inc. will post 5.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Tuesday, February 20th were given a $0.32 dividend. This is an increase from Alaska Air Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.28 annualized dividend and a dividend yield of 1.97%. Alaska Air Group’s dividend payout ratio is presently 15.46%.
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About Alaska Air Group
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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