Kalos Management Inc. bought a new stake in Southwest Airlines Company (NYSE:LUV) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 41,592 shares of the airline’s stock, valued at approximately $2,328,000. Southwest Airlines makes up about 1.5% of Kalos Management Inc.’s portfolio, making the stock its 22nd largest holding.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its stake in shares of Southwest Airlines by 13.1% during the second quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock worth $549,016,000 after buying an additional 1,026,892 shares during the period. Boston Partners lifted its stake in shares of Southwest Airlines by 101.7% during the third quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock worth $278,822,000 after buying an additional 2,511,258 shares during the period. APG Asset Management N.V. lifted its stake in shares of Southwest Airlines by 16.8% during the third quarter. APG Asset Management N.V. now owns 4,592,536 shares of the airline’s stock worth $257,090,000 after buying an additional 660,500 shares during the period. Thrivent Financial For Lutherans lifted its stake in shares of Southwest Airlines by 35.6% during the second quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock worth $257,901,000 after buying an additional 1,090,189 shares during the period. Finally, Rockefeller Financial Services Inc. lifted its stake in shares of Southwest Airlines by 4.0% during the third quarter. Rockefeller Financial Services Inc. now owns 3,193,405 shares of the airline’s stock worth $178,766,000 after buying an additional 121,447 shares during the period. Institutional investors own 78.87% of the company’s stock.
In related news, Director John T. Montford sold 935 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total transaction of $50,433.90. Following the completion of the transaction, the director now owns 25,000 shares of the company’s stock, valued at $1,348,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.
Shares of Southwest Airlines Company (NYSE:LUV) traded down $0.28 during trading on Monday, hitting $63.05. 786,865 shares of the company traded hands, compared to its average volume of 5,234,846. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46. Southwest Airlines Company has a 12-month low of $48.71 and a 12-month high of $64.39. The stock has a market capitalization of $37,579.23, a PE ratio of 18.25, a PEG ratio of 2.10 and a beta of 1.34.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.01. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The firm had revenue of $5.27 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the company posted $0.93 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. analysts predict that Southwest Airlines Company will post 3.56 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 7th will be issued a dividend of $0.125 per share. The ex-dividend date is Wednesday, December 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.79%. Southwest Airlines’s dividend payout ratio (DPR) is presently 14.37%.
Several equities research analysts have recently commented on the stock. Vetr downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating and set a $59.16 price objective for the company. in a research note on Wednesday, October 4th. Wolfe Research upgraded shares of Southwest Airlines from a “market perform” rating to an “outperform” rating in a research note on Friday, August 18th. Barclays reiterated a “hold” rating and set a $61.00 price objective on shares of Southwest Airlines in a research note on Thursday, September 14th. Zacks Investment Research downgraded shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Finally, Raymond James Financial upgraded shares of Southwest Airlines from a “market perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. Southwest Airlines currently has an average rating of “Buy” and an average price target of $66.89.
TRADEMARK VIOLATION WARNING: This piece was posted by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://transcriptdaily.com/2017/12/11/41592-shares-in-southwest-airlines-company-luv-acquired-by-kalos-management-inc.html.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
Receive News & Ratings for Southwest Airlines Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Company and related companies with MarketBeat.com's FREE daily email newsletter.