Kemnay Advisory Services Inc. Sells 3,135 Shares of Delta Air Lines, Inc. (DAL)

Kemnay Advisory Services Inc. cut its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,576 shares of the transportation company’s stock after selling 3,135 shares during the quarter. Kemnay Advisory Services Inc.’s holdings in Delta Air Lines were worth $1,306,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Honkamp Krueger Financial Services Inc. bought a new position in Delta Air Lines during the third quarter worth about $116,000. Capital Advisors Ltd. LLC bought a new position in Delta Air Lines during the third quarter worth about $139,000. Truvestments Capital LLC bought a new position in Delta Air Lines during the third quarter worth about $143,000. Point72 Hong Kong Ltd bought a new position in Delta Air Lines during the second quarter worth about $142,000. Finally, Baker Ellis Asset Management LLC bought a new position in Delta Air Lines during the second quarter worth about $163,000. 87.66% of the stock is currently owned by institutional investors and hedge funds.

NYSE:DAL opened at $56.94 on Thursday. Delta Air Lines, Inc. has a 1 year low of $48.52 and a 1 year high of $61.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.37 and a quick ratio of 0.31. The company has a market capitalization of $39.04 billion, a PE ratio of 11.55, a PEG ratio of 0.65 and a beta of 0.93.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 11th. The transportation company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.06. Delta Air Lines had a net margin of 7.87% and a return on equity of 27.72%. The company had revenue of $11.95 billion during the quarter, compared to analysts’ expectations of $11.96 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. As a group, sell-side analysts anticipate that Delta Air Lines, Inc. will post 5.52 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 7th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Tuesday, November 6th. Delta Air Lines’s dividend payout ratio (DPR) is currently 28.40%.

DAL has been the subject of a number of analyst reports. Buckingham Research raised their price target on shares of Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. ValuEngine upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Stephens restated a “buy” rating and set a $68.00 price target on shares of Delta Air Lines in a research note on Monday, October 1st. Bank of America cut their price target on shares of Delta Air Lines from $67.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, October 10th. Finally, Macquarie set a $69.00 price target on shares of Delta Air Lines and gave the stock a “buy” rating in a research note on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.60.

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Delta Air Lines Profile

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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

Further Reading: Buyback

Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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