Alaska Air Group, Inc. (ALK) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 24.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 106,500 shares of the company’s stock after selling 34,300 shares during the quarter. Canada Pension Plan Investment Board owned about 0.09% of Alaska Air Group worth $8,123,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Schroder Investment Management Group increased its holdings in shares of Alaska Air Group by 41.2% during the second quarter. Schroder Investment Management Group now owns 773,245 shares of the company’s stock valued at $68,897,000 after acquiring an additional 225,600 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alaska Air Group by 78.0% during the second quarter. JPMorgan Chase & Co. now owns 805,723 shares of the company’s stock valued at $72,323,000 after acquiring an additional 353,166 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Alaska Air Group by 11.3% during the second quarter. Legal & General Group Plc now owns 161,010 shares of the company’s stock valued at $14,453,000 after acquiring an additional 16,407 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Alaska Air Group by 149.3% during the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the company’s stock valued at $110,457,000 after acquiring an additional 737,020 shares in the last quarter. Finally, Baltimore Capital Management Inc. increased its holdings in shares of Alaska Air Group by 505.0% during the second quarter. Baltimore Capital Management Inc. now owns 38,570 shares of the company’s stock valued at $3,462,000 after acquiring an additional 32,195 shares in the last quarter. Institutional investors and hedge funds own 89.33% of the company’s stock.

Several research firms have recently commented on ALK. J P Morgan Chase & Co downgraded Alaska Air Group from an “overweight” rating to a “neutral” rating and set a $74.00 price objective for the company. in a report on Wednesday, November 1st. Buckingham Research decreased their price objective on Alaska Air Group from $98.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Barclays PLC decreased their price objective on Alaska Air Group from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, October 26th. Deutsche Bank AG decreased their price objective on Alaska Air Group from $99.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Finally, Morgan Stanley lifted their target price on Alaska Air Group from $83.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of C$92.34.

Alaska Air Group, Inc. (NYSE:ALK) opened at C$62.42 on Monday. Alaska Air Group, Inc. has a 1 year low of C$61.36 and a 1 year high of C$101.43. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.78 and a current ratio of 0.80. The company has a market capitalization of $7,680.46, a price-to-earnings ratio of 8.48 and a beta of 1.01.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, October 25th. The company reported C$2.24 EPS for the quarter, missing analysts’ consensus estimates of C$2.26 by C($0.02). Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The firm had revenue of C$2.12 billion for the quarter, compared to analysts’ expectations of C$2.13 billion. During the same period in the prior year, the company earned $2.20 EPS. The firm’s quarterly revenue was up 35.4% on a year-over-year basis. sell-side analysts forecast that Alaska Air Group, Inc. will post 6.8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, November 21st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.92%. Alaska Air Group’s dividend payout ratio is presently 19.26%.

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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.

Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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