Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 7.28MM shares of Alaska Air Group, Inc. (ALK). This represents 5.7% of the company.
In their previous filing dated February 7, 2022 they reported 7.82MM shares and 6.20% of the company, a decrease in shares of 6.92% and a decrease in total ownership of 0.50% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 19.23% Upside
As of February 5, 2023, the average one-year price target for Alaska Air Group is $63.75. The forecasts range from a low of $45.45 to a high of $94.50. The average price target represents an increase of 19.23% from its latest reported closing price of $53.47.
The projected annual revenue for Alaska Air Group is $10,352MM, an increase of 7.32%. The projected annual EPS is $5.01, an increase of 993.07%.
Fund Sentiment
There are 1064 funds or institutions reporting positions in Alaska Air Group. This is an increase of 2 owner(s) or 0.19%.
Average portfolio weight of all funds dedicated to US:ALK is 0.1673%, an increase of 6.6965%. Total shares owned by institutions increased in the last three months by 3.21% to 121,912K shares.
What are large shareholders doing?
Victory Capital Management holds 6,468,888 shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 6,219,448 shares, representing an increase of 3.86%. The firm decreased its portfolio allocation in ALK by 21.41% over the last quarter.
Primecap Management holds 4,459,437 shares representing 3.50% ownership of the company. In it's prior filing, the firm reported owning 4,528,037 shares, representing a decrease of 1.54%. The firm increased its portfolio allocation in ALK by 4.22% over the last quarter.
VETAX - Victory Sycamore Established Value Fund holds 4,370,000 shares representing 3.43% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,813,230 shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 3,705,216 shares, representing an increase of 2.83%. The firm increased its portfolio allocation in ALK by 4.87% over the last quarter.
VPMCX - Vanguard PRIMECAP Fund Investor Shares holds 3,765,100 shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 3,833,700 shares, representing a decrease of 1.82%. The firm increased its portfolio allocation in ALK by 3.08% over the last quarter.
Alaska Air Group Declares $0.38 Dividend
Alaska Air Group said on January 28, 2020 that its board of directors declared a regular quarterly dividend of $0.38 per share ($1.50 annualized). Shareholders of record as of February 14, 2020 received the payment on March 5, 2020. Previously, the company paid $0.35 per share.
At the current share price of $53.47 / share, the stock's dividend yield is 2.81%. Looking back five years and taking a sample every week, the average dividend yield has been 2.19%, the lowest has been 1.76%, and the highest has been 5.83%. The standard deviation of yields is 0.47 (n=103).
The current dividend yield is 1.32 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.00. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -1.00%.
Alaska Air Group Background Information
(This description is provided by the company.)
Alaska Air Group is an airline holding company based in SeaTac, Washington, United States. The group owns two certificated airlines, Alaska Airlines, a mainline carrier, and Horizon Air, a regional carrier. Alaska Airlines and its regional partners serve more than 115 destinations across the United States and North America. The airline provides essential air service for our guests along with moving crucial cargo shipments, while emphasizing Next-Level Care. Alaska is known for low fares, award-winning customer service and sustainability efforts. Guests can earn and redeem miles on flights to more than 800 destinations worldwide with Alaska and its Global Partners. On March 31, 2021, Alaska will officially become a member of the oneworld global alliance.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
