CSat Investment Advisory L.P. cut its stake in Southwest Airlines Co (NYSE:LUV) by 20.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,459 shares of the airline’s stock after selling 5,641 shares during the period. CSat Investment Advisory L.P.’s holdings in Southwest Airlines were worth $1,090,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Westside Investment Management Inc. purchased a new stake in Southwest Airlines during the second quarter worth about $60,000. Clear Perspective Advisors LLC purchased a new stake in Southwest Airlines during the second quarter worth about $60,000. NEXT Financial Group Inc increased its stake in Southwest Airlines by 1,073.5% during the second quarter. NEXT Financial Group Inc now owns 1,197 shares of the airline’s stock worth $61,000 after purchasing an additional 1,095 shares during the period. Executive Wealth Management LLC increased its stake in Southwest Airlines by 19.8% during the second quarter. Executive Wealth Management LLC now owns 1,233 shares of the airline’s stock worth $63,000 after purchasing an additional 204 shares during the period. Finally, Carroll Financial Associates Inc. lifted its holdings in shares of Southwest Airlines by 26.3% during the second quarter. Carroll Financial Associates Inc. now owns 1,534 shares of the airline’s stock worth $77,000 after purchasing an additional 319 shares during the period. Institutional investors and hedge funds own 82.02% of the company’s stock.
LUV has been the subject of several recent research reports. Wolfe Research raised Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Friday, August 16th. Macquarie raised Southwest Airlines from a “neutral” rating to an “outperform” rating and set a $67.00 price target for the company in a report on Friday, September 13th. Cowen reaffirmed a “market perform” rating and set a $57.00 price target (up from $55.00) on shares of Southwest Airlines in a report on Friday, July 26th. Berenberg Bank initiated coverage on Southwest Airlines in a report on Friday, September 6th. They set a “hold” rating and a $57.00 price target for the company. Finally, Zacks Investment Research raised Southwest Airlines from a “sell” rating to a “hold” rating and set a $59.00 price target for the company in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $57.22.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 25th. The airline reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.02. Southwest Airlines had a return on equity of 24.12% and a net margin of 10.73%. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the company earned $1.26 earnings per share. Southwest Airlines’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts predict that Southwest Airlines Co will post 4.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Wednesday, August 21st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Tuesday, August 20th. Southwest Airlines’s dividend payout ratio (DPR) is currently 16.98%.
About Southwest Airlines
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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