FAS Wealth Partners Inc. Decreases Holdings in Southwest Airlines Co. (NYSE:LUV)

FAS Wealth Partners Inc. cut its holdings in shares of Southwest Airlines Co. (NYSE:LUVFree Report) by 80.3% during the 4th quarter, HoldingsChannel reports. The fund owned 7,501 shares of the airline’s stock after selling 30,665 shares during the quarter. FAS Wealth Partners Inc.’s holdings in Southwest Airlines were worth $217,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Southwest Airlines by 2.0% during the first quarter. Vanguard Group Inc. now owns 63,028,745 shares of the airline’s stock worth $2,886,717,000 after acquiring an additional 1,213,767 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Southwest Airlines by 39.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,991,802 shares of the airline’s stock worth $715,615,000 after purchasing an additional 6,244,136 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Southwest Airlines by 7.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 18,213,320 shares of the airline’s stock worth $613,243,000 after purchasing an additional 1,269,782 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Southwest Airlines by 91,675.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,296,139 shares of the airline’s stock worth $515,021,000 after purchasing an additional 15,279,472 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Southwest Airlines by 2.9% in the first quarter. Geode Capital Management LLC now owns 12,237,288 shares of the airline’s stock worth $397,599,000 after purchasing an additional 345,135 shares during the last quarter. 80.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating in a report on Sunday, January 28th. Citigroup raised their target price on shares of Southwest Airlines from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, December 18th. UBS Group started coverage on shares of Southwest Airlines in a report on Wednesday, March 20th. They issued a “buy” rating and a $36.00 target price on the stock. Barclays lifted their price target on shares of Southwest Airlines from $27.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Finally, Evercore ISI reissued an “inline” rating and set a $35.00 price objective on shares of Southwest Airlines in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Southwest Airlines has an average rating of “Hold” and a consensus price target of $32.24.

Read Our Latest Research Report on LUV

Southwest Airlines Stock Down 2.9 %

NYSE:LUV opened at $28.33 on Wednesday. The firm’s 50-day moving average price is $31.48 and its 200-day moving average price is $28.44. The company has a market capitalization of $16.90 billion, a PE ratio of 37.77, a P/E/G ratio of 0.96 and a beta of 1.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 1.07. Southwest Airlines Co. has a 1-year low of $21.91 and a 1-year high of $39.53.

Southwest Airlines (NYSE:LUVGet Free Report) last released its earnings results on Thursday, January 25th. The airline reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.25. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.75 billion. Southwest Airlines had a net margin of 1.91% and a return on equity of 9.40%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.38) EPS. On average, equities analysts predict that Southwest Airlines Co. will post 1.65 EPS for the current fiscal year.

Southwest Airlines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Tuesday, March 5th. Southwest Airlines’s dividend payout ratio is presently 96.00%.

Southwest Airlines Company Profile

(Free Report)

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

See Also

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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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