Advisory Services Network LLC boosted its stake in shares of Southwest Airlines Co. (NYSE:LUV) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 16,261 shares of the airline’s stock after buying an additional 71 shares during the period. Advisory Services Network LLC’s holdings in Southwest Airlines were worth $638,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Rehmann Capital Advisory Group purchased a new stake in Southwest Airlines during the first quarter valued at about $216,000. Bancorpsouth Inc. purchased a new stake in Southwest Airlines during the first quarter valued at about $355,000. Franklin Resources Inc. raised its stake in Southwest Airlines by 38.9% in the first quarter. Franklin Resources Inc. now owns 72,037 shares of the airline’s stock valued at $3,227,000 after buying an additional 20,161 shares in the last quarter. BlackRock Group LTD raised its stake in Southwest Airlines by 5.7% in the first quarter. BlackRock Group LTD now owns 3,798,226 shares of the airline’s stock valued at $170,160,000 after buying an additional 204,229 shares in the last quarter. Finally, Bristlecone Advisors LLC raised its stake in Southwest Airlines by 13.5% in the first quarter. Bristlecone Advisors LLC now owns 43,875 shares of the airline’s stock valued at $1,966,000 after buying an additional 5,225 shares in the last quarter. 78.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Southwest Airlines Co. (NYSE:LUV) traded down 1.46% during midday trading on Tuesday, hitting $39.16. The stock had a trading volume of 10,682,210 shares. The firm’s 50-day moving average price is $37.22 and its 200-day moving average price is $40.64. Southwest Airlines Co. has a one year low of $33.96 and a one year high of $51.34. The firm has a market capitalization of $24.29 billion, a PE ratio of 10.39 and a beta of 0.79.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 21st. The airline reported $1.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by $0.02. The company 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%. Southwest Airlines’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 EPS. On average, equities analysts predict that Southwest Airlines Co. will post $3.78 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 18th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.02%. Southwest Airlines’s dividend payout ratio (DPR) is presently 10.61%.
Several equities research analysts recently issued reports on LUV shares. Vetr lowered Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $48.33 price target on the stock. in a research report on Wednesday, June 8th. Cowen and Company dropped their price target on Southwest Airlines from $51.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, June 24th. Deutsche Bank AG reissued a “buy” rating and set a $57.00 price target on shares of Southwest Airlines in a research report on Saturday, June 25th. Credit Suisse Group AG reissued an “outperform” rating on shares of Southwest Airlines in a research report on Wednesday, July 6th. Finally, Zacks Investment Research lowered Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $48.18.
In related news, SVP Mark R. Shaw sold 1,776 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $37.62, for a total transaction of $66,813.12. Following the completion of the transaction, the senior vice president now owns 5,226 shares in the company, valued at approximately $196,602.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary C. Kelly bought 28,106 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were bought at an average price of $35.58 per share, with a total value of $1,000,011.48. Following the transaction, the insider now directly owns 505,119 shares in the company, valued at $17,972,134.02. The disclosure for this purchase can be found here. Corporate 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.
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