Todd Asset Management LLC lessened its holdings in Southwest Airlines Co (NYSE:LUV) by 0.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 437,918 shares of the airline’s stock after selling 1,288 shares during the quarter. Todd Asset Management LLC’s holdings in Southwest Airlines were worth $22,733,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Paragon Capital Management LLC purchased a new stake in Southwest Airlines in the first quarter worth about $26,000. Shine Investment Advisory Services Inc. grew its holdings in Southwest Airlines by 208.0% in the first quarter. Shine Investment Advisory Services Inc. now owns 616 shares of the airline’s stock worth $32,000 after purchasing an additional 416 shares during the period. Destination Wealth Management grew its holdings in Southwest Airlines by 107.9% in the first quarter. Destination Wealth Management now owns 634 shares of the airline’s stock worth $33,000 after purchasing an additional 329 shares during the period. Field & Main Bank purchased a new stake in Southwest Airlines in the first quarter worth about $35,000. Finally, Somerset Trust Co grew its holdings in Southwest Airlines by 185.5% in the first quarter. Somerset Trust Co now owns 688 shares of the airline’s stock worth $36,000 after purchasing an additional 447 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.
Several research analysts have recently issued reports on LUV shares. Vertical Research started coverage on shares of Southwest Airlines in a research note on Monday, February 4th. They issued a “buy” rating on the stock. Macquarie set a $65.00 target price on shares of Southwest Airlines and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Zacks Investment Research upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Wednesday, January 23rd. Argus reiterated a “buy” rating on shares of Southwest Airlines in a research note on Wednesday, May 1st. Finally, Barclays dropped their target price on shares of Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Southwest Airlines currently has an average rating of “Hold” and an average target price of $58.64.
LUV stock traded up $0.72 during midday trading on Tuesday, reaching $52.73. 957,394 shares of the company’s stock traded hands, compared to its average volume of 4,820,066. Southwest Airlines Co has a 52-week low of $44.28 and a 52-week high of $64.02. The stock has a market cap of $28.37 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.31 and a beta of 1.49. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 0.28.
Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, April 25th. The airline reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.09. Southwest Airlines had a net margin of 10.78% and a return on equity of 23.94%. 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 company earned $0.79 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, equities analysts forecast that Southwest Airlines Co will post 4.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, June 4th. This is a boost from Southwest Airlines’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. Southwest Airlines’s dividend payout ratio is 15.09%.
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About Southwest Airlines
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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