Fiduciary Trust Co. reduced its holdings in Southwest Airlines Company (NYSE:LUV) by 9.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,532 shares of the airline’s stock after selling 446 shares during the quarter. Fiduciary Trust Co.’s holdings in Southwest Airlines were worth $281,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Guardian Life Insurance Co. of America increased its holdings in Southwest Airlines by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock worth $128,000 after purchasing an additional 15 shares in the last quarter. Buckingham Asset Management LLC increased its holdings in Southwest Airlines by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 5,690 shares of the airline’s stock worth $306,000 after purchasing an additional 16 shares in the last quarter. Bank of Hawaii increased its holdings in Southwest Airlines by 0.3% in the first quarter. Bank of Hawaii now owns 12,867 shares of the airline’s stock worth $692,000 after purchasing an additional 35 shares in the last quarter. First Heartland Consultants Inc. increased its holdings in Southwest Airlines by 0.3% in the first quarter. First Heartland Consultants Inc. now owns 16,293 shares of the airline’s stock worth $876,000 after purchasing an additional 43 shares in the last quarter. Finally, Harwood Advisory Group LLC increased its holdings in Southwest Airlines by 0.9% in the second quarter. Harwood Advisory Group LLC now owns 5,607 shares of the airline’s stock worth $348,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 79.42% of the company’s stock.
Southwest Airlines Company (LUV) opened at 52.87 on Monday. The stock has a market cap of $31.65 billion, a PE ratio of 16.21 and a beta of 1.29. Southwest Airlines Company has a 12 month low of $36.31 and a 12 month high of $64.39. The company’s 50 day moving average price is $54.42 and its 200 day moving average price is $57.04.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the company earned $1.19 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts forecast that Southwest Airlines Company will post $3.76 EPS for the current fiscal year.
Southwest Airlines announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the airline to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.34%.
In related news, Director William H. Dr Cunningham acquired 4,500 shares of Southwest Airlines stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $54.00 per share, with a total value of $243,000.00. Following the transaction, the director now directly owns 66,969 shares in the company, valued at $3,616,326. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by company insiders.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Tuesday, June 13th. BidaskClub downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $63.80 target price for the company in a report on Monday, June 5th. Argus upgraded Southwest Airlines from a “hold” rating to a “buy” rating and lifted their target price for the stock from $61.76 to $68.00 in a report on Thursday, June 22nd. Finally, Wolfe Research upgraded Southwest Airlines from a “market perform” rating to an “outperform” rating in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $66.10.
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About Southwest Airlines
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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