KMG Fiduciary Partners LLC Trims Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

KMG Fiduciary Partners LLC lowered its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 27.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,871 shares of the transportation company’s stock after selling 35,099 shares during the period. KMG Fiduciary Partners LLC’s holdings in Delta Air Lines were worth $3,962,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DAL. Brighton Jones LLC grew its stake in Delta Air Lines by 33.5% during the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company’s stock valued at $555,000 after acquiring an additional 2,302 shares in the last quarter. Spire Wealth Management lifted its position in Delta Air Lines by 14.3% during the fourth quarter. Spire Wealth Management now owns 3,330 shares of the transportation company’s stock valued at $201,000 after purchasing an additional 417 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in Delta Air Lines by 44.7% during the fourth quarter. Stratos Wealth Partners LTD. now owns 30,879 shares of the transportation company’s stock valued at $1,868,000 after purchasing an additional 9,537 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Delta Air Lines by 42.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,160 shares of the transportation company’s stock valued at $3,985,000 after purchasing an additional 19,568 shares during the last quarter. Finally, Choreo LLC lifted its position in Delta Air Lines by 21.1% during the fourth quarter. Choreo LLC now owns 23,655 shares of the transportation company’s stock valued at $1,436,000 after purchasing an additional 4,114 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Trading Up 4.4%

NYSE:DAL opened at $50.98 on Friday. The company has a fifty day moving average of $44.83 and a 200 day moving average of $54.90. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $33.29 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.75 and a beta of 1.51.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.38). Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The firm had revenue of $12.98 billion for the quarter, compared to the consensus estimate of $13.85 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, research analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 13th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a yield of 1.18%. Delta Air Lines’s dividend payout ratio is currently 10.64%.

Analysts Set New Price Targets

DAL has been the subject of several research analyst reports. Bank of America dropped their target price on shares of Delta Air Lines from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. The Goldman Sachs Group dropped their target price on shares of Delta Air Lines from $83.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Raymond James dropped their target price on shares of Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd. Wall Street Zen lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Delta Air Lines in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Delta Air Lines has an average rating of “Moderate Buy” and a consensus price target of $62.08.

Delta Air Lines 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.