State of New Jersey Common Pension Fund D lessened its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 21.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,300,000 shares of the airline’s stock after selling 350,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Southwest Airlines were worth $67,483,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Teachers Advisors LLC lifted its holdings in shares of Southwest Airlines by 35.3% in the third quarter. Teachers Advisors LLC now owns 1,241,182 shares of the airline’s stock valued at $77,512,000 after buying an additional 323,802 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Southwest Airlines by 110.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,496,061 shares of the airline’s stock worth $218,329,000 after acquiring an additional 1,837,517 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Southwest Airlines by 13.1% during the 3rd quarter. Nordea Investment Management AB now owns 231,510 shares of the airline’s stock worth $14,458,000 after acquiring an additional 26,793 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Southwest Airlines by 0.7% during the 3rd quarter. Legal & General Group Plc now owns 923,487 shares of the airline’s stock worth $57,676,000 after acquiring an additional 5,999 shares in the last quarter. Finally, Marshall Wace North America L.P. boosted its stake in Southwest Airlines by 1,484.7% during the 3rd quarter. Marshall Wace North America L.P. now owns 77,461 shares of the airline’s stock valued at $4,838,000 after purchasing an additional 72,573 shares during the period. Institutional investors own 81.19% of the company’s stock.
Southwest Airlines stock opened at $52.66 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $29.12 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.35 and a beta of 1.49. Southwest Airlines Co has a 12 month low of $44.28 and a 12 month high of $64.02.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, April 25th. The airline reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.09. Southwest Airlines had a return on equity of 23.94% and a net margin of 10.78%. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the firm posted $0.79 EPS. Southwest Airlines’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, analysts expect that Southwest Airlines Co will post 4.67 earnings per share for the current fiscal year.
LUV has been the subject of several recent analyst reports. Vertical Research initiated coverage on Southwest Airlines in a research note on Monday, February 4th. They set a “buy” rating for the company. Macquarie set a $65.00 price target on Southwest Airlines and gave the company a “buy” rating in a report on Tuesday, January 29th. Zacks Investment Research raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Friday, January 11th. Argus reaffirmed a “buy” rating on shares of Southwest Airlines in a report on Wednesday, May 1st. Finally, Barclays cut their price target on Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.64.
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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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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, and Turks and Caicos.
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