waypoint wealth counsel Acquires New Position in Delta Air Lines, Inc. $DAL

Key Points

• Waypoint Wealth Counsel has acquired a new stake in Delta Air Lines, purchasing 8,689 shares valued at approximately $427,000 in the 2nd quarter.
• Recent analyst reports show a bullish outlook for Delta Air Lines, with several firms including Jefferies and UBS setting target prices between $70.00 and $75.00 and maintaining a "buy" rating.
• Delta Air Lines announced a quarterly dividend of $0.1875, which represents an annual yield of 1.3%, following a successful quarter with $8.40 billion in revenue.

waypoint wealth counsel purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 8,689 shares of the transportation company's stock, valued at approximately $427,000.

Several other hedge funds have also made changes to their positions in DAL. Brighton Jones LLC grew its position in Delta Air Lines by 33.5% in the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock worth $555,000 after acquiring an additional 2,302 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Delta Air Lines by 169.9% during the 1st quarter. Farther Finance Advisors LLC now owns 14,391 shares of the transportation company's stock worth $610,000 after purchasing an additional 9,059 shares during the period. GAMMA Investing LLC grew its holdings in shares of Delta Air Lines by 3.7% during the 1st quarter. GAMMA Investing LLC now owns 9,585 shares of the transportation company's stock worth $418,000 after purchasing an additional 344 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Delta Air Lines by 746.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 241,538 shares of the transportation company's stock worth $10,531,000 after purchasing an additional 212,990 shares during the period. Finally, CVA Family Office LLC grew its holdings in shares of Delta Air Lines by 8.7% during the 1st quarter. CVA Family Office LLC now owns 3,935 shares of the transportation company's stock worth $172,000 after purchasing an additional 315 shares during the period. Hedge funds and other institutional investors own 69.93% of the company's stock.

Analysts Set New Price Targets

DAL has been the subject of several research analyst reports. Jefferies Financial Group set a $70.00 target price on shares of Delta Air Lines and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Sanford C. Bernstein increased their price objective on shares of Delta Air Lines from $71.00 to $74.00 and gave the stock an "outperform" rating in a research report on Friday. UBS Group increased their price objective on shares of Delta Air Lines from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday. Citigroup raised their price target on Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, The Goldman Sachs Group raised their price target on Delta Air Lines from $60.00 to $67.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $70.11.

Delta Air Lines Trading Down 3.4%

NYSE:DAL opened at $57.56 on Friday. The stock has a fifty day moving average price of $58.65 and a 200 day moving average price of $51.56. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. The firm has a market cap of $37.59 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 1.49 and a beta of 1.50. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Tuesday, March 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter. The business had revenue of $8.40 billion during the quarter. Delta Air Lines had a return on equity of 24.85% and a net margin of 7.36%. Sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Thursday, November 6th. Investors 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 1.3%. Delta Air Lines's payout ratio is currently 10.56%.

Insider Activity

In other news, EVP Peter W. Carter sold 17,550 shares of Delta Air Lines stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $57.19, for a total transaction of $1,003,684.50. Following the completion of the sale, the executive vice president directly owned 191,442 shares of the company's stock, valued at approximately $10,948,567.98. The trade was a 8.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the sale, the chief executive officer directly owned 632,823 shares of the company's stock, valued at $35,615,278.44. This trade represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,050 shares of company stock worth $5,139,795 over the last three months. Insiders own 0.88% of the company's stock.

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.

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