Mackenzie Financial Corp Grows Stake in Delta Air Lines, Inc. (NYSE:DAL)

Mackenzie Financial Corp raised its stake in Delta Air Lines, Inc. (NYSE:DAL) by 5.6% during the second quarter, Holdings Channel reports. The fund owned 71,968 shares of the transportation company’s stock after buying an additional 3,824 shares during the period. Mackenzie Financial Corp’s holdings in Delta Air Lines were worth $3,414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DAL. Orion Portfolio Solutions LLC boosted its stake in Delta Air Lines by 206.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 23,620 shares of the transportation company’s stock valued at $983,000 after acquiring an additional 15,902 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Delta Air Lines by 1.6% during the 4th quarter. TD Asset Management Inc now owns 192,552 shares of the transportation company’s stock valued at $7,746,000 after buying an additional 3,059 shares in the last quarter. KBC Group NV lifted its stake in shares of Delta Air Lines by 121.2% during the 4th quarter. KBC Group NV now owns 241,039 shares of the transportation company’s stock valued at $9,697,000 after buying an additional 132,057 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Delta Air Lines during the 4th quarter valued at approximately $51,000. Finally, NEOS Investment Management LLC lifted its stake in shares of Delta Air Lines by 35.3% during the 4th quarter. NEOS Investment Management LLC now owns 9,102 shares of the transportation company’s stock valued at $366,000 after buying an additional 2,376 shares in the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on DAL shares. TD Cowen dropped their price target on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Jefferies Financial Group dropped their price target on shares of Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Sanford C. Bernstein lowered their target price on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Friday, July 12th. Finally, BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $61.52.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of Delta Air Lines stock in a transaction that occurred on Friday, July 12th. The shares were bought at an average price of $43.90 per share, with a total value of $439,000.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at $878,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.96% of the stock is owned by insiders.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $49.95 on Wednesday. The company’s fifty day moving average price is $43.06 and its 200-day moving average price is $46.65. The firm has a market capitalization of $32.23 billion, a price-to-earnings ratio of 7.19, a PEG ratio of 0.90 and a beta of 1.34. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $53.86. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The company had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.45 billion. During the same period in the previous year, the company earned $2.68 EPS. Delta Air Lines’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Delta Air Lines, Inc. will post 6.18 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Thursday, October 10th. Delta Air Lines’s dividend payout ratio is currently 8.63%.

About Delta Air Lines

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.