Olstein Capital Management L.P. Grows Position in Delta Air Lines, Inc. (NYSE:DAL)

Olstein Capital Management L.P. grew its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 41.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 176,000 shares of the transportation company's stock after buying an additional 52,000 shares during the period. Delta Air Lines makes up about 1.4% of Olstein Capital Management L.P.'s investment portfolio, making the stock its 25th largest holding. Olstein Capital Management L.P.'s holdings in Delta Air Lines were worth $7,674,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DAL. Hemington Wealth Management raised its holdings in shares of Delta Air Lines by 48.1% during the fourth quarter. Hemington Wealth Management now owns 474 shares of the transportation company's stock valued at $28,000 after purchasing an additional 154 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of Delta Air Lines during the fourth quarter valued at approximately $29,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Delta Air Lines by 414.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company's stock valued at $32,000 after purchasing an additional 431 shares during the last quarter. Graney & King LLC purchased a new stake in Delta Air Lines during the fourth quarter valued at approximately $34,000. Finally, Continuum Advisory LLC increased its holdings in Delta Air Lines by 44.2% during the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock valued at $35,000 after buying an additional 179 shares during the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group reduced their target price on shares of Delta Air Lines from $83.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Bank of America reduced their target price on shares of Delta Air Lines from $65.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Raymond James reduced their target price on shares of Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Dbs Bank cut shares of Delta Air Lines from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Finally, Wall Street Zen lowered shares of Delta Air Lines from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $62.08.

Delta Air Lines Stock Performance

Shares of NYSE:DAL traded down $2.51 during trading on Wednesday, hitting $49.17. 10,196,796 shares of the stock traded hands, compared to its average volume of 9,650,938. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The company has a market cap of $32.11 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 0.75 and a beta of 1.51. The company has a fifty day moving average price of $45.49 and a two-hundred day moving average price of $54.69. Delta Air Lines, Inc. has a 52-week low of $34.74 and a 52-week high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.38). The firm had revenue of $12.98 billion for the quarter, compared to analysts' expectations of $13.85 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. Delta Air Lines's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.45 earnings per share. As a group, equities analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 13th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.22%. The ex-dividend date was Tuesday, May 13th. Delta Air Lines's payout ratio is presently 10.64%.

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.