CFO4Life Group LLC purchased a new stake in Southwest Airlines Company (NYSE:LUV) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,867 shares of the airline’s stock, valued at approximately $477,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cim Investment Mangement Inc. increased its position in Southwest Airlines Company by 1.2% in the fourth quarter. Cim Investment Mangement Inc. now owns 18,882 shares of the airline’s stock valued at $941,000 after buying an additional 231 shares during the last quarter. Total Investment Management Inc. acquired a new position in Southwest Airlines Company during the fourth quarter valued at $493,000. Bluestein R H & Co. acquired a new position in Southwest Airlines Company during the fourth quarter valued at $34,846,000. Credit Agricole S A increased its position in Southwest Airlines Company by 30.5% in the fourth quarter. Credit Agricole S A now owns 384,452 shares of the airline’s stock valued at $19,161,000 after buying an additional 89,846 shares during the last quarter. Finally, Impala Asset Management LLC acquired a new position in Southwest Airlines Company during the fourth quarter valued at $3,751,000. Institutional investors and hedge funds own 80.58% of the company’s stock.
Shares of Southwest Airlines Company (LUV) traded down 0.583% during midday trading on Tuesday, reaching $60.565. 851,440 shares of the company were exchanged. Southwest Airlines Company has a 52 week low of $35.42 and a 52 week high of $61.24. The firm has a market capitalization of $36.62 billion, a P/E ratio of 18.166 and a beta of 1.26. The firm has a 50-day moving average of $59.04 and a 200 day moving average of $54.71.
Southwest Airlines Company (NYSE:LUV) last announced its earnings results on Thursday, April 27th. The airline reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Southwest Airlines Company had a return on equity of 26.75% and a net margin of 10.16%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.88 EPS. On average, equities research analysts expect that Southwest Airlines Company will post $3.84 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 7th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Monday, June 5th. This is a positive change from Southwest Airlines Company’s previous quarterly dividend of $0.10. Southwest Airlines Company’s dividend payout ratio (DPR) is 15.11%.
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A number of equities analysts have commented on the stock. Vetr raised shares of Southwest Airlines Company from a “hold” rating to a “buy” rating and set a $63.80 price objective for the company in a research note on Monday, June 5th. Zacks Investment Research raised shares of Southwest Airlines Company from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, June 6th. Atlantic Securities assumed coverage on shares of Southwest Airlines Company in a research note on Tuesday. They issued a “neutral” rating and a $71.00 price objective for the company. Stifel Nicolaus reissued a “buy” rating and issued a $80.00 price objective on shares of Southwest Airlines Company in a research note on Friday, May 26th. Finally, ValuEngine raised shares of Southwest Airlines Company from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $59.87.
In other Southwest Airlines Company news, CFO Tammy Romo sold 8,322 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $59.15, for a total transaction of $492,246.30. Following the completion of the transaction, the chief financial officer now owns 87,387 shares of the company’s stock, valued at $5,168,941.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Gary C. Kelly sold 51,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $57.06, for a total transaction of $2,910,060.00. Following the transaction, the chairman now directly owns 556,808 shares of the company’s stock, valued at approximately $31,771,464.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 118,740 shares of company stock valued at $6,923,568. 0.18% of the stock is currently owned by insiders.
About Southwest Airlines Company
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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