Hudson Canyon Investment Counselors LLC raised its stake in shares of Southwest Airlines Co. (NYSE:LUV) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,808 shares of the airline’s stock after buying an additional 1,208 shares during the period. Hudson Canyon Investment Counselors LLC’s holdings in Southwest Airlines were worth $1,326,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new stake in Southwest Airlines during the second quarter valued at $246,179,000. Capital Fund Management S.A. raised its position in Southwest Airlines by 472.4% in the second quarter. Capital Fund Management S.A. now owns 1,718,192 shares of the airline’s stock valued at $67,370,000 after buying an additional 1,418,012 shares in the last quarter. Wellington Management Group LLP raised its position in Southwest Airlines by 261.0% in the first quarter. Wellington Management Group LLP now owns 1,550,920 shares of the airline’s stock valued at $69,481,000 after buying an additional 1,121,332 shares in the last quarter. JPMorgan Chase & Co. raised its position in Southwest Airlines by 45.6% in the first quarter. JPMorgan Chase & Co. now owns 3,400,713 shares of the airline’s stock valued at $152,353,000 after buying an additional 1,065,198 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new position in Southwest Airlines during the first quarter valued at approximately $30,700,000. Hedge funds and other institutional investors own 78.34% of the company’s stock.
Shares of Southwest Airlines Co. (NYSE:LUV) traded up 2.19% during trading on Monday, hitting $39.74. The stock had a trading volume of 8,642,943 shares. The firm has a 50 day moving average of $37.12 and a 200 day moving average of $40.74. The company has a market capitalization of $24.65 billion, a price-to-earnings ratio of 10.54 and a beta of 0.79. 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 earnings results on Thursday, July 21st. The airline reported $1.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.02. Southwest Airlines had a net margin of 11.95% and a return on equity of 34.25%. The business earned $5.38 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same quarter last year, the business posted $1.03 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts expect that Southwest Airlines Co. will post $3.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.01%. Southwest Airlines’s dividend payout ratio (DPR) is presently 10.61%.
Several equities analysts have recently commented on the stock. Bank of America Corp. set a $50.00 price target on shares of Southwest Airlines and gave the stock a “buy” rating in a research report on Saturday. Cowen and Company restated a “buy” rating on shares of Southwest Airlines in a research report on Sunday, June 26th. Vetr upgraded shares of Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $43.50 price target for the company in a research report on Wednesday, September 28th. Zacks Investment Research lowered shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Thursday, July 14th. Finally, Imperial Capital assumed coverage on shares of Southwest Airlines in a research report on Friday, September 9th. They set an “outperform” rating and a $46.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $48.18.
In other news, insider Gary C. Kelly acquired 28,106 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average cost of $35.58 per share, for a total transaction of $1,000,011.48. Following the completion of the transaction, the insider now directly owns 505,119 shares in the company, valued at $17,972,134.02. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Mark R. Shaw sold 1,776 shares of Southwest Airlines 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 owns 5,226 shares of the company’s stock, valued at $196,602.12. The disclosure for this sale can be found here. 0.18% of the stock is owned by 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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