Cardinal Point Capital Management ULC Takes Position in Delta Air Lines, Inc. $DAL

Key Points

• Cardinal Point Capital Management ULC has initiated a new position in Delta Air Lines, acquiring 4,200 shares valued at approximately $207,000 in the second quarter.
• Institutional investors now own 69.93% of Delta Air Lines' stock, with notable increases in positions from firms like Vanguard Group Inc. and AQR Capital Management.
• Delta Air Lines recently announced a quarterly dividend of $0.1875 per share and has positive growth forecasts, with analysts raising price targets and maintaining a consensus "Buy" rating.

Cardinal Point Capital Management ULC purchased a new position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,200 shares of the transportation company's stock, valued at approximately $207,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Delta Air Lines by 0.7% during the first quarter. Vanguard Group Inc. now owns 72,924,506 shares of the transportation company's stock valued at $3,179,508,000 after purchasing an additional 514,264 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Delta Air Lines in the 2nd quarter worth approximately $386,364,000. Invesco Ltd. increased its holdings in Delta Air Lines by 30.2% in the 1st quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company's stock worth $315,788,000 after buying an additional 1,681,464 shares during the period. AQR Capital Management LLC boosted its position in Delta Air Lines by 149.9% in the 1st quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company's stock worth $246,487,000 after purchasing an additional 3,577,489 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Delta Air Lines by 66.9% during the 1st quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company's stock valued at $257,918,000 after buying an additional 2,370,795 shares in the last quarter. Institutional investors own 69.93% of the company's stock.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $60.93 on Friday. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The business has a 50 day moving average price of $59.61 and a two-hundred day moving average price of $52.84. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68. The firm has a market cap of $39.78 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 1.35 and a beta of 1.50.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its quarterly earnings data on Tuesday, March 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%.The business had revenue of $8.40 billion during the quarter. Sell-side analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th will be paid a $0.1875 dividend. The ex-dividend date is Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.2%. Delta Air Lines's payout ratio is 10.56%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup raised their target price on Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wolfe Research boosted their price objective on Delta Air Lines from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Wednesday, October 8th. Sanford C. Bernstein upped their price target on Delta Air Lines from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Friday, October 10th. UBS Group upped their price objective on Delta Air Lines from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, October 10th. Finally, The Goldman Sachs Group upped their target price on Delta Air Lines from $60.00 to $67.00 and gave the company a "buy" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating and twenty have given a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $71.53.

Insider Transactions at Delta Air Lines

In related news, EVP John E. Laughter sold 23,323 shares of the business's stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the completion of the transaction, the executive vice president owned 81,109 shares of the company's stock, valued at approximately $5,055,523.97. The trade was a 22.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael P. Huerta sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total value of $151,750.00. Following the completion of the transaction, the director directly owned 33,245 shares of the company's stock, valued at approximately $2,017,971.50. This trade represents a 6.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,833 shares of company stock worth $2,463,585. 0.88% of the stock is owned by corporate insiders.

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 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.

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