TIAA CREF Investment Management LLC Lowers Stake in SkyWest, Inc. (SKYW)

TIAA CREF Investment Management LLC lowered its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 17.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 194,159 shares of the transportation company’s stock after selling 41,473 shares during the quarter. TIAA CREF Investment Management LLC owned 0.38% of SkyWest worth $6,815,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. United Services Automobile Association purchased a new stake in shares of SkyWest during the 1st quarter valued at $421,000. Vanguard Group Inc. raised its position in shares of SkyWest by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 5,788,450 shares of the transportation company’s stock valued at $198,255,000 after buying an additional 198,452 shares in the last quarter. Systematic Financial Management LP raised its position in shares of SkyWest by 31.1% during the 2nd quarter. Systematic Financial Management LP now owns 234,089 shares of the transportation company’s stock valued at $8,217,000 after buying an additional 55,514 shares in the last quarter. Legal & General Group Plc raised its position in shares of SkyWest by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 93,386 shares of the transportation company’s stock valued at $3,277,000 after buying an additional 7,821 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of SkyWest by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 759,204 shares of the transportation company’s stock valued at $26,648,000 after buying an additional 14,217 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Several research firms have recently weighed in on SKYW. Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Tuesday, October 3rd. Cowen and Company raised their price objective on shares of SkyWest from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, August 10th. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 18th. Finally, BidaskClub cut shares of SkyWest from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. SkyWest has a consensus rating of “Buy” and an average target price of $44.17.

SkyWest, Inc. (NASDAQ SKYW) opened at 46.30 on Friday. The stock’s market cap is $2.40 billion. SkyWest, Inc. has a 12 month low of $28.05 and a 12 month high of $47.60. The company has a 50-day moving average of $40.55 and a 200-day moving average of $36.79.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.08. SkyWest had a negative net margin of 4.59% and a positive return on equity of 11.10%. The business had revenue of $809.76 million during the quarter, compared to analyst estimates of $790.14 million. During the same quarter last year, the business earned $0.77 earnings per share. SkyWest’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts forecast that SkyWest, Inc. will post $3.25 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 29th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.32 annualized dividend and a yield of 0.69%. SkyWest’s dividend payout ratio (DPR) is currently -11.31%.

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About SkyWest

SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.

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Institutional Ownership by Quarter for SkyWest (NASDAQ:SKYW)

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