PGGM Investments cut its stake in Southwest Airlines Co. (NYSE:LUV) by 85.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 112,058 shares of the airline’s stock after selling 675,067 shares during the period. PGGM Investments’ holdings in Southwest Airlines were worth $4,394,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of LUV. Rehmann Capital Advisory Group acquired a new stake in shares of Southwest Airlines during the first quarter valued at approximately $216,000. Checchi Capital Advisers LLC boosted 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 valued at $238,000 after buying an additional 202 shares during the period. Pitcairn Co. boosted 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 valued at $238,000 after buying an additional 165 shares during the period. Balasa Dinverno & Foltz LLC acquired a new stake in shares of Southwest Airlines during the second quarter valued at approximately $244,000. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in shares of Southwest Airlines by 36.3% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 6,344 shares of the airline’s stock valued at $249,000 after buying an additional 1,689 shares during the period. 78.34% of the stock is owned by institutional investors and hedge funds.
Shares of Southwest Airlines Co. (NYSE:LUV) traded up 2.19% during trading on Monday, reaching $39.74. The company had a trading volume of 8,643,552 shares. Southwest Airlines Co. has a 12 month low of $33.96 and a 12 month high of $51.34. The firm has a 50 day moving average price of $37.21 and a 200 day moving average price of $40.67. The company has a market cap of $24.65 billion, a price-to-earnings ratio of 10.54 and a beta of 0.79.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, July 21st. The airline reported $1.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm 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 company’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts predict that Southwest Airlines Co. will post $3.78 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 18th were paid a $0.10 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $0.40 annualized dividend and a yield of 1.01%. Southwest Airlines’s dividend payout ratio (DPR) is currently 10.61%.
A number of analysts recently issued reports on LUV shares. Cowen and Company reissued a “buy” rating on shares of Southwest Airlines in a research report on Sunday, June 26th. Deutsche Bank AG reissued a “buy” rating and set a $57.00 price objective on shares of Southwest Airlines in a research report on Saturday, June 25th. Vetr cut Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $48.33 price objective for the company. in a research report on Wednesday, June 8th. Evercore ISI raised Southwest Airlines from a “hold” rating to a “buy” rating and reduced their price objective for the company from $47.00 to $37.36 in a research report on Tuesday, July 26th. Finally, Credit Suisse Group AG set a $48.00 price objective on Southwest Airlines and gave the company a “buy” rating in a research report on Monday, September 12th. One investment 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 company. Southwest Airlines has an average rating of “Buy” and a consensus target price of $48.18.
In other Southwest Airlines news, SVP Mark R. Shaw sold 1,776 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $37.62, for a total value of $66,813.12. Following the transaction, the senior vice president now directly owns 5,226 shares of the company’s stock, valued at approximately $196,602.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary C. Kelly purchased 28,106 shares of the stock in a transaction on Tuesday, August 2nd. The stock was bought at an average cost of $35.58 per share, for a total transaction of $1,000,011.48. Following the completion of the acquisition, the insider now owns 505,119 shares in the company, valued at $17,972,134.02. The disclosure for this purchase can be found here. 0.18% of the stock is currently owned by corporate insiders.
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.
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