Toronto Dominion Bank boosted its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 518.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 346,080 shares of the transportation company’s stock after purchasing an additional 290,148 shares during the period. Toronto Dominion Bank’s holdings in Alaska Air Group were worth $19,417,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Investors Research Corp purchased a new stake in shares of Alaska Air Group in the 1st quarter valued at $28,000. We Are One Seven LLC purchased a new stake in shares of Alaska Air Group in the 4th quarter valued at $34,000. Sandy Spring Bank lifted its stake in shares of Alaska Air Group by 58.8% in the 1st quarter. Sandy Spring Bank now owns 794 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 294 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Alaska Air Group by 762.7% in the 1st quarter. Quadrant Capital Group LLC now owns 949 shares of the transportation company’s stock valued at $52,000 after purchasing an additional 839 shares during the period. Finally, Enlightenment Research LLC acquired a new position in shares of Alaska Air Group in the 4th quarter valued at $61,000. 89.24% of the stock is currently owned by institutional investors.
Several research firms recently issued reports on ALK. JPMorgan Chase & Co. upgraded shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $71.00 to $72.00 in a research note on Tuesday, April 30th. Deutsche Bank decreased their target price on shares of Alaska Air Group from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Zacks Investment Research upgraded shares of Alaska Air Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Credit Suisse Group set a $76.00 target price on shares of Alaska Air Group and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Bank of America reiterated a “neutral” rating and issued a $62.00 target price (down from $70.00) on shares of Alaska Air Group in a research note on Thursday, April 4th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $76.10.
NYSE:ALK traded up $1.50 during trading hours on Thursday, reaching $62.99. 31,709 shares of the company were exchanged, compared to its average volume of 1,596,137. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.57 and a current ratio of 0.59. The stock has a market capitalization of $7.43 billion, a PE ratio of 14.07, a P/E/G ratio of 0.73 and a beta of 0.84. Alaska Air Group, Inc. has a twelve month low of $53.39 and a twelve month high of $74.83.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, April 25th. The transportation company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Alaska Air Group had a net margin of 5.26% and a return on equity of 14.97%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. Research analysts forecast that Alaska Air Group, Inc. will post 5.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Monday, May 20th. Alaska Air Group’s dividend payout ratio is presently 31.39%.
In other news, VP Brandon Pedersen sold 4,026 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $62.00, for a total value of $249,612.00. Following the completion of the sale, the vice president now directly owns 26,524 shares in the company, valued at $1,644,488. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew R. Harrison sold 1,600 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $61.53, for a total transaction of $98,448.00. Following the completion of the sale, the executive vice president now owns 20,567 shares of the company’s stock, valued at $1,265,487.51. The disclosure for this sale can be found here. Insiders have sold 9,626 shares of company stock valued at $599,780 over the last 90 days. 0.43% of the stock is currently owned by company insiders.
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About Alaska Air Group
Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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