Tredje AP fonden trimmed its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 35.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,459 shares of the airline’s stock after selling 10,020 shares during the period. Tredje AP fonden’s holdings in Southwest Airlines were worth $1,057,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of LUV. Schwab Charles Investment Management Inc. boosted its position in Southwest Airlines by 11.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,037,020 shares of the airline’s stock valued at $133,323,000 after buying an additional 204,026 shares during the period. Steward Partners Investment Advisory LLC boosted its position in Southwest Airlines by 580.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,607 shares of the airline’s stock valued at $170,000 after buying an additional 2,224 shares during the period. Cerebellum GP LLC purchased a new stake in Southwest Airlines during the fourth quarter valued at about $127,000. Crossvault Capital Management LLC purchased a new stake in Southwest Airlines during the fourth quarter valued at about $3,821,000. Finally, Fisher Asset Management LLC purchased a new stake in Southwest Airlines during the fourth quarter valued at about $241,000. Institutional investors and hedge funds own 80.23% of the company’s stock.
In related news, Director Douglas H. Brooks sold 10,000 shares of the stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $60.05, for a total value of $600,500.00. Following the completion of the transaction, the director now directly owns 56,269 shares of the company’s stock, valued at $3,378,953.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO De Ven Michael G. Van sold 31,099 shares of the stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $57.35, for a total transaction of $1,783,527.65. Following the completion of the transaction, the chief operating officer now directly owns 172,883 shares of the company’s stock, valued at $9,914,840.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,473 shares of company stock valued at $6,296,091. 0.23% of the stock is owned by insiders.
LUV has been the subject of several analyst reports. Stephens set a $74.00 price target on shares of Southwest Airlines and gave the company a “buy” rating in a research report on Tuesday, April 17th. Zacks Investment Research upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Tuesday, January 30th. Vetr upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $65.42 price target for the company in a research report on Thursday, January 25th. Buckingham Research upgraded shares of Southwest Airlines from a “neutral” rating to a “buy” rating and set a $106.00 price target for the company in a research report on Thursday, March 22nd. They noted that the move was a valuation call. Finally, UBS cut their price target on shares of Southwest Airlines from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, March 22nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the stock. Southwest Airlines has an average rating of “Buy” and an average price target of $68.55.
Southwest Airlines opened at $50.85 on Wednesday, Marketbeat.com reports. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.50. The stock has a market cap of $30.28 billion, a PE ratio of 14.53, a PEG ratio of 0.87 and a beta of 1.16. Southwest Airlines Co has a 1-year low of $49.76 and a 1-year high of $66.99.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, April 26th. The airline reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5 billion. Southwest Airlines had a net margin of 16.95% and a return on equity of 23.25%. Southwest Airlines’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. sell-side analysts predict that Southwest Airlines Co will post 4.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 27th. Investors of record on Wednesday, June 6th will be paid a $0.16 dividend. This is an increase from Southwest Airlines’s previous quarterly dividend of $0.13. This represents a $0.64 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Tuesday, June 5th. Southwest Airlines’s dividend payout ratio is presently 14.29%.
Southwest Airlines Profile
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, Turks, and Chaos.
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