Mizuho Markets Americas LLC bought a new stake in shares of Southwest Airlines Co. (NYSE:LUV – Free Report) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,338,500 shares of the airline’s stock, valued at approximately $55,320,000. Southwest Airlines accounts for about 1.1% of Mizuho Markets Americas LLC’s portfolio, making the stock its 20th biggest holding.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ameriprise Financial Inc. boosted its position in Southwest Airlines by 43.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 12,335,167 shares of the airline’s stock valued at $393,615,000 after purchasing an additional 3,753,183 shares during the period. JPMorgan Chase & Co. grew its stake in Southwest Airlines by 13.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,218,086 shares of the airline’s stock worth $389,879,000 after buying an additional 1,459,235 shares during the last quarter. Invesco Ltd. increased its position in Southwest Airlines by 9.2% in the third quarter. Invesco Ltd. now owns 6,837,197 shares of the airline’s stock worth $218,175,000 after buying an additional 577,326 shares during the period. American Century Companies Inc. increased its position in Southwest Airlines by 0.6% in the third quarter. American Century Companies Inc. now owns 4,425,339 shares of the airline’s stock worth $141,213,000 after buying an additional 26,608 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Southwest Airlines by 2,468.4% in the fourth quarter. SG Americas Securities LLC now owns 3,752,352 shares of the airline’s stock valued at $155,085,000 after buying an additional 3,606,255 shares during the last quarter. 80.82% of the stock is currently owned by institutional investors and hedge funds.
Southwest Airlines Trading Up 0.2%
NYSE:LUV opened at $40.85 on Friday. The stock has a market cap of $19.96 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 0.45 and a beta of 1.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.41 and a current ratio of 0.48. Southwest Airlines Co. has a 1 year low of $28.98 and a 1 year high of $55.11. The business has a fifty day moving average of $39.47 and a 200-day moving average of $41.13.
Southwest Airlines Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, June 11th. Southwest Airlines’s payout ratio is 46.45%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. Argus reduced their price target on shares of Southwest Airlines from $55.00 to $45.00 and set a “buy” rating for the company in a report on Friday, April 24th. UBS Group cut their price objective on shares of Southwest Airlines from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Jefferies Financial Group reduced their target price on shares of Southwest Airlines from $42.00 to $37.00 and set a “hold” rating for the company in a research note on Monday, April 27th. Rothschild & Co Redburn upped their target price on shares of Southwest Airlines from $27.00 to $35.00 and gave the stock a “sell” rating in a research report on Thursday, March 5th. Finally, Bank of America dropped their price target on shares of Southwest Airlines from $42.00 to $40.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 1st. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Southwest Airlines has an average rating of “Hold” and a consensus target price of $44.11.
Southwest Airlines Profile
Southwest Airlines Co is a U.S.-based low-cost carrier that operates a point-to-point domestic and near-international airline network. Headquartered in Dallas, Texas, the company primarily flies Boeing 737 aircraft and offers no-frills, single-class service designed to keep fares competitive. Southwest’s operating model emphasizes high aircraft utilization, quick turnaround times and an open seating policy, allowing customers to board and select seats on a first-come, first-served basis.
Founded in 1967 by Herb Kelleher and Rollin King as Air Southwest Company, Southwest began commercial service in 1971, initially connecting Dallas, Houston and San Antonio.
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