Los Angeles Capital Management & Equity Research Inc. reduced its position in Southwest Airlines Co. (NYSE:LUV) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,249 shares of the airline’s stock after selling 325 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Southwest Airlines were worth $206,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Scout Investments Inc. boosted its stake in Southwest Airlines by 49.1% in the second quarter. Scout Investments Inc. now owns 498,722 shares of the airline’s stock worth $19,555,000 after buying an additional 164,266 shares during the period. Assetmark Inc. purchased a new stake in Southwest Airlines during the second quarter worth $440,000. Telos Capital Management Inc. boosted its stake in Southwest Airlines by 5.7% in the second quarter. Telos Capital Management Inc. now owns 31,484 shares of the airline’s stock worth $1,235,000 after buying an additional 1,702 shares during the period. Trust Investment Advisors boosted its stake in Southwest Airlines by 0.3% in the second quarter. Trust Investment Advisors now owns 16,575 shares of the airline’s stock worth $650,000 after buying an additional 50 shares during the period. Finally, Moors & Cabot Inc. boosted its stake in Southwest Airlines by 3.5% in the second quarter. Moors & Cabot Inc. now owns 9,116 shares of the airline’s stock worth $360,000 after buying an additional 312 shares during the period. Institutional investors own 78.34% of the company’s stock.
Shares of Southwest Airlines Co. (NYSE:LUV) traded up 1.94% on Friday, hitting $38.89. 9,364,392 shares of the company’s stock traded hands. The company has a market cap of $24.12 billion, a price-to-earnings ratio of 10.32 and a beta of 0.84. The firm’s 50-day moving average price is $37.12 and its 200 day moving average price is $40.74. Southwest Airlines Co. has a 1-year low of $33.96 and a 1-year high of $51.34.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 21st. The airline reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by $0.02. The firm had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.41 billion. Southwest Airlines had a return on equity of 34.25% and a net margin of 11.95%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 earnings per share. On average, equities research analysts expect that Southwest Airlines Co. will post $3.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.40 annualized dividend and a yield of 1.03%. Southwest Airlines’s dividend payout ratio is currently 10.61%.
A number of analysts recently weighed in on the stock. Vetr raised shares of Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $43.50 price objective on the stock in a report on Wednesday. Credit Suisse Group AG set a $48.00 price objective on shares of Southwest Airlines and gave the stock a “buy” rating in a report on Monday, September 12th. Imperial Capital assumed coverage on shares of Southwest Airlines in a report on Friday, September 9th. They issued an “outperform” rating and a $46.00 price objective on the stock. Finally, Morgan Stanley reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Southwest Airlines in a report on Sunday, August 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $48.05.
In other news, SVP Mark R. Shaw sold 1,776 shares of the company’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $37.62, for a total value of $66,813.12. Following the completion of the sale, the senior vice president now directly owns 5,226 shares of the company’s stock, valued at approximately $196,602.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO De Ven Michael G. Van purchased 4,200 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average cost of $35.77 per share, with a total value of $150,234.00. Following the completion of the purchase, the chief operating officer now owns 183,245 shares in the company, valued at $6,554,673.65. The disclosure for this purchase can be found here. Company insiders own 0.18% of the company’s stock.
About Southwest Airlines
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.
Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Co. (NYSE:LUV).
Receive News & Ratings for Southwest Airlines Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Co. and related companies with MarketBeat.com's FREE daily email newsletter.