Magnolia Capital Advisors LLC Invests $710,000 in The Boeing Company (NYSE:BA)

Magnolia Capital Advisors LLC acquired a new position in The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,723 shares of the aircraft producer’s stock, valued at approximately $710,000.

Other hedge funds also recently made changes to their positions in the company. BKA Wealth Consulting Inc. acquired a new position in shares of Boeing in the fourth quarter worth about $238,000. Mizuho Securities Co. Ltd. boosted its holdings in shares of Boeing by 155.6% in the fourth quarter. Mizuho Securities Co. Ltd. now owns 920 shares of the aircraft producer’s stock worth $240,000 after buying an additional 560 shares during the period. Madison Park Capital Advisors LLC acquired a new position in shares of Boeing in the fourth quarter worth about $305,000. Fountainhead AM LLC acquired a new position in shares of Boeing in the fourth quarter worth about $283,000. Finally, Private Management Group Inc. acquired a new position in shares of Boeing in the fourth quarter worth about $259,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 2.9 %

Shares of NYSE:BA traded down $4.84 during trading on Wednesday, reaching $164.34. The stock had a trading volume of 20,821,575 shares, compared to its average volume of 9,753,916. The Boeing Company has a 52 week low of $162.74 and a 52 week high of $267.54. The firm has a market capitalization of $100.27 billion, a price-to-earnings ratio of -44.66, a P/E/G ratio of 135.00 and a beta of 1.52. The stock has a fifty day simple moving average of $188.03 and a two-hundred day simple moving average of $206.89.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period last year, the firm posted ($1.75) EPS. The company’s revenue was up 10.2% compared to the same quarter last year. On average, analysts forecast that The Boeing Company will post 0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Northcoast Research cut shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price for the company. in a report on Wednesday, April 17th. UBS Group decreased their price target on shares of Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Benchmark restated a “buy” rating and set a $250.00 price target on shares of Boeing in a report on Tuesday, March 26th. Melius restated a “hold” rating on shares of Boeing in a report on Monday, April 1st. Finally, Wells Fargo & Company decreased their price target on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $226.71.

Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.