SkyWest, Inc. (SKYW) Stake Decreased by Comerica Bank

Comerica Bank trimmed its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,579 shares of the transportation company’s stock after selling 8,343 shares during the quarter. Comerica Bank owned approximately 0.14% of SkyWest worth $4,065,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of SkyWest by 4.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,488,411 shares of the transportation company’s stock worth $79,034,000 after buying an additional 68,348 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of SkyWest by 2.8% in the third quarter. Ameriprise Financial Inc. now owns 1,243,724 shares of the transportation company’s stock worth $54,603,000 after buying an additional 33,310 shares during the period. LSV Asset Management raised its holdings in shares of SkyWest by 3.2% in the fourth quarter. LSV Asset Management now owns 1,130,887 shares of the transportation company’s stock worth $60,050,000 after buying an additional 34,850 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of SkyWest by 9.9% in the third quarter. Bank of New York Mellon Corp now owns 1,034,140 shares of the transportation company’s stock worth $45,398,000 after buying an additional 93,373 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of SkyWest by 0.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 481,899 shares of the transportation company’s stock worth $25,589,000 after buying an additional 1,749 shares during the period. Hedge funds and other institutional investors own 89.95% of the company’s stock.

In other news, CEO Russell A. Childs sold 18,554 shares of SkyWest stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $51.33, for a total value of $952,376.82. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Michael B. Thompson sold 1,476 shares of SkyWest stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $51.45, for a total value of $75,940.20. The disclosure for this sale can be found here. Insiders have sold a total of 32,105 shares of company stock worth $1,650,421 over the last 90 days. 3.50% of the stock is currently owned by company insiders.

Several equities research analysts have recently weighed in on SKYW shares. Deutsche Bank increased their price target on SkyWest from $47.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Imperial Capital raised their price objective on SkyWest from $38.00 to $47.00 and gave the stock an “in-line” rating in a report on Tuesday, October 31st. Zacks Investment Research upgraded SkyWest from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Thursday, November 9th. BidaskClub downgraded SkyWest from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. Finally, ValuEngine upgraded SkyWest from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and four have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $56.00.

SkyWest, Inc. (NASDAQ SKYW) opened at $56.60 on Friday. The company has a market capitalization of $2,939.47, a price-to-earnings ratio of 7.01 and a beta of 1.78. SkyWest, Inc. has a fifty-two week low of $30.40 and a fifty-two week high of $58.15. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.36.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, February 1st. The transportation company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.71 by $0.10. The company had revenue of $797.20 million for the quarter, compared to the consensus estimate of $778.13 million. SkyWest had a return on equity of 12.08% and a net margin of 13.39%. SkyWest’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. equities analysts predict that SkyWest, Inc. will post 4.39 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.10 per share. This is an increase from SkyWest’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.71%. The ex-dividend date is Wednesday, March 28th. SkyWest’s dividend payout ratio (DPR) is presently 3.97%.

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About SkyWest

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.

Institutional Ownership by Quarter for SkyWest (NASDAQ:SKYW)

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