Kinney Asset Management LLC Reduces Holdings in Ryanair Holdings PLC (NASDAQ:RYAAY)

Key Points

• Kinney Asset Management LLC reduced its holdings in Ryanair Holdings PLC by 33.8%, selling 154,000 shares, leaving it with a total of 301,379 shares.
• Ryanair reported earnings of $1.74 per share for the last quarter, exceeding expectations, along with a revenue of $5.07 billion, outperforming analyst estimates.
• The company has announced an increase in its dividend from $0.47 to $0.534 per share, demonstrating confidence in its financial performance and stability.

Kinney Asset Management LLC lessened its stake in Ryanair Holdings PLC (NASDAQ:RYAAY - Free Report) by 33.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 301,379 shares of the transportation company's stock after selling 154,000 shares during the quarter. Ryanair comprises about 16.8% of Kinney Asset Management LLC's holdings, making the stock its 2nd largest holding. Kinney Asset Management LLC owned approximately 0.06% of Ryanair worth $12,769,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RYAAY. Capital International Investors grew its stake in Ryanair by 6.1% during the 4th quarter. Capital International Investors now owns 38,800,258 shares of the transportation company's stock valued at $1,691,536,000 after purchasing an additional 2,231,153 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Ryanair by 4.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 29,324,514 shares of the transportation company's stock valued at $1,242,480,000 after buying an additional 1,233,059 shares in the last quarter. Brave Warrior Advisors LLC raised its stake in Ryanair by 9.8% during the fourth quarter. Brave Warrior Advisors LLC now owns 5,604,258 shares of the transportation company's stock valued at $244,290,000 after buying an additional 500,239 shares in the last quarter. Metropolis Capital Ltd raised its stake in Ryanair by 3.5% during the first quarter. Metropolis Capital Ltd now owns 4,753,672 shares of the transportation company's stock valued at $201,413,000 after buying an additional 160,542 shares in the last quarter. Finally, FIL Ltd raised its stake in Ryanair by 5.8% during the fourth quarter. FIL Ltd now owns 3,804,773 shares of the transportation company's stock valued at $165,850,000 after buying an additional 209,424 shares in the last quarter. 43.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RYAAY has been the topic of several analyst reports. Oddo Bhf upgraded shares of Ryanair from an "underperform" rating to an "outperform" rating in a research note on Wednesday, July 16th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $76.00 price target (up from $70.00) on shares of Ryanair in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of Ryanair from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Citigroup reaffirmed a "buy" rating on shares of Ryanair in a research note on Wednesday, May 21st. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Ryanair in a research note on Wednesday, May 21st. Six research analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $111.50.

Ryanair Stock Performance

Shares of NASDAQ RYAAY traded down $0.25 during mid-day trading on Friday, hitting $64.55. The company had a trading volume of 453,814 shares, compared to its average volume of 1,578,109. The firm has a market cap of $34.26 billion, a P/E ratio of 15.16, a PEG ratio of 1.06 and a beta of 1.36. The business's 50-day simple moving average is $58.37 and its 200-day simple moving average is $50.87. Ryanair Holdings PLC has a 12 month low of $38.52 and a 12 month high of $65.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.66 and a quick ratio of 0.66.

Ryanair (NASDAQ:RYAAY - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The transportation company reported $1.74 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.25. Ryanair had a return on equity of 27.91% and a net margin of 14.42%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.16 billion. As a group, analysts predict that Ryanair Holdings PLC will post 3.09 earnings per share for the current fiscal year.

Ryanair Increases Dividend

The business also recently announced a -- dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.534 per share. This represents a yield of 120.0%. This is an increase from Ryanair's previous -- dividend of $0.47. The ex-dividend date is Friday, September 12th. Ryanair's dividend payout ratio (DPR) is 23.47%.

Ryanair Profile

Ryanair Holdings plc, together with its subsidiaries, provides scheduled-passenger airline services in Ireland, the United Kingdom, Italy, Spain, and internationally. It is also involved in the provision of various ancillary services, such as non-flight scheduled and Internet-related services, as well as in-flight sale of beverages, food, duty-free, and merchandise; and markets car hire, travel insurance, and accommodation services through its website and mobile app.