Community Bank & Trust Waco Texas boosted its position in shares of Southwest Airlines Co. (NYSE:LUV) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,029 shares of the airline’s stock after buying an additional 1,964 shares during the period. Community Bank & Trust Waco Texas’ holdings in Southwest Airlines were worth $2,118,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in LUV. Markston International LLC purchased a new stake in shares of Southwest Airlines during the second quarter worth about $196,000. Rehmann Capital Advisory Group purchased a new stake in shares of Southwest Airlines during the first quarter worth about $216,000. Checchi Capital Advisers LLC raised its stake in shares of Southwest Airlines by 3.4% in the second quarter. Checchi Capital Advisers LLC now owns 6,071 shares of the airline’s stock worth $238,000 after buying an additional 202 shares in the last quarter. Pitcairn Co. raised its stake in shares of Southwest Airlines by 2.8% in the second quarter. Pitcairn Co. now owns 6,071 shares of the airline’s stock worth $238,000 after buying an additional 165 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC purchased a new stake in shares of Southwest Airlines during the second quarter worth about $244,000. 78.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Southwest Airlines Co. (NYSE:LUV) traded up 1.94% during trading on Friday, reaching $38.89. 9,252,221 shares of the company’s stock traded hands. Southwest Airlines Co. has a 1-year low of $33.96 and a 1-year high of $51.34. The stock has a market capitalization of $24.12 billion, a PE ratio of 10.32 and a beta of 0.84. The company has a 50 day moving average price of $37.07 and a 200 day moving average price of $40.78.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, July 21st. The airline reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by $0.02. The business earned $5.38 billion during the quarter, compared to analysts’ expectations of $5.41 billion. Southwest Airlines had a net margin of 11.95% and a return on equity of 34.25%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. On average, equities analysts forecast that Southwest Airlines Co. will post $3.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Tuesday, August 16th. Southwest Airlines’s dividend payout ratio (DPR) is 10.61%.
LUV has been the subject of a number of analyst reports. Cowen and Company reissued a “buy” rating on shares of Southwest Airlines in a report on Sunday, June 26th. Deutsche Bank AG reaffirmed a “buy” rating and set a $57.00 target price on shares of Southwest Airlines in a research note on Saturday, June 25th. Vetr lowered shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $48.33 target price for the company. in a research note on Wednesday, June 8th. Evercore ISI raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and lowered their target price for the stock from $47.00 to $37.36 in a research note on Tuesday, July 26th. Finally, Credit Suisse Group AG set a $48.00 target price on shares of Southwest Airlines and gave the stock a “buy” rating in a research note on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $48.05.
In other news, insider Gary C. Kelly bought 28,106 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was acquired at an average price of $35.58 per share, for a total transaction of $1,000,011.48. Following the acquisition, the insider now owns 505,119 shares of the company’s stock, valued at $17,972,134.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William H. Dr Cunningham bought 5,700 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average price of $35.80 per share, with a total value of $204,060.00. Following the acquisition, the director now directly owns 56,283 shares in the company, valued at approximately $2,014,931.40. The disclosure for this purchase can be found here. 0.18% of the stock is owned by company insiders.
Southwest Airlines Company Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
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