Principal Financial Group Inc. Has $30.31 Million Stock Holdings in Southwest Airlines Co. (NYSE:LUV)

Principal Financial Group Inc. cut its position in shares of Southwest Airlines Co. (NYSE:LUVGet Rating) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 707,426 shares of the airline’s stock after selling 20,973 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Southwest Airlines worth $30,306,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in Southwest Airlines by 0.4% during the third quarter. Geode Capital Management LLC now owns 10,601,522 shares of the airline’s stock worth $544,220,000 after buying an additional 47,260 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Southwest Airlines by 3.9% during the third quarter. Artisan Partners Limited Partnership now owns 10,506,729 shares of the airline’s stock worth $540,361,000 after purchasing an additional 393,044 shares during the period. Janus Henderson Group PLC lifted its stake in Southwest Airlines by 19.1% during the third quarter. Janus Henderson Group PLC now owns 4,145,338 shares of the airline’s stock worth $213,195,000 after purchasing an additional 665,419 shares during the period. California Public Employees Retirement System lifted its stake in Southwest Airlines by 9.8% during the third quarter. California Public Employees Retirement System now owns 1,333,284 shares of the airline’s stock worth $68,571,000 after purchasing an additional 118,672 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in Southwest Airlines during the third quarter worth about $1,328,000. 76.74% of the stock is currently owned by institutional investors and hedge funds.

LUV stock opened at $42.99 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.87 and a quick ratio of 1.81. The company has a 50 day moving average price of $44.44 and a 200 day moving average price of $44.71. Southwest Airlines Co. has a fifty-two week low of $36.75 and a fifty-two week high of $63.68. The stock has a market capitalization of $25.49 billion, a PE ratio of 45.73, a price-to-earnings-growth ratio of 3.10 and a beta of 0.92.

Southwest Airlines (NYSE:LUVGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The airline reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.02. Southwest Airlines had a net margin of 3.17% and a negative return on equity of 4.39%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the company posted ($1.72) EPS. Southwest Airlines’s revenue was up 128.8% on a year-over-year basis. As a group, equities analysts expect that Southwest Airlines Co. will post 2.31 earnings per share for the current fiscal year.

A number of research analysts have commented on LUV shares. Raymond James raised their price target on shares of Southwest Airlines from $54.00 to $57.00 in a research note on Friday, April 29th. JPMorgan Chase & Co. raised their price target on shares of Southwest Airlines from $62.00 to $72.00 in a research note on Friday, April 29th. Barclays cut their price target on shares of Southwest Airlines from $59.00 to $55.00 in a research note on Thursday, April 7th. Citigroup raised their price target on shares of Southwest Airlines from $48.00 to $53.00 in a research note on Monday, May 2nd. Finally, StockNews.com started coverage on shares of Southwest Airlines in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $53.88.

About Southwest Airlines (Get Rating)

Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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.

Further Reading

Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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