IBM Retirement Fund lowered its position in shares of Southwest Airlines Co (NYSE:LUV) by 11.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,159 shares of the airline’s stock after selling 1,505 shares during the period. IBM Retirement Fund’s holdings in Southwest Airlines were worth $696,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. lifted its stake in Southwest Airlines by 2.0% during the fourth quarter. BlackRock Inc. now owns 29,879,666 shares of the airline’s stock worth $1,955,625,000 after purchasing an additional 585,430 shares during the last quarter. Boston Partners lifted its stake in Southwest Airlines by 85.7% during the first quarter. Boston Partners now owns 8,483,493 shares of the airline’s stock worth $485,934,000 after purchasing an additional 3,914,892 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Southwest Airlines by 39.1% during the fourth quarter. Bank of New York Mellon Corp now owns 8,286,126 shares of the airline’s stock worth $542,326,000 after purchasing an additional 2,328,296 shares during the last quarter. Egerton Capital UK LLP lifted its stake in Southwest Airlines by 9.8% during the fourth quarter. Egerton Capital UK LLP now owns 7,310,517 shares of the airline’s stock worth $478,473,000 after purchasing an additional 654,828 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Southwest Airlines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,388,729 shares of the airline’s stock worth $352,024,000 after purchasing an additional 109,406 shares during the last quarter. 80.23% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Douglas H. Brooks sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $60.05, for a total transaction of $600,500.00. Following the transaction, the director now directly owns 56,269 shares of the company’s stock, valued at $3,378,953.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO De Ven Michael G. Van sold 31,099 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $57.35, for a total transaction of $1,783,527.65. Following the transaction, the chief operating officer now directly owns 172,883 shares in the company, valued at $9,914,840.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,422 shares of company stock worth $2,874,086. Corporate insiders own 0.23% of the company’s stock.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, April 26th. The airline reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Southwest Airlines had a net margin of 16.95% and a return on equity of 23.25%. The firm had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $5 billion. During the same period in the previous year, the company posted $0.61 earnings per share. Southwest Airlines’s revenue was up 1.9% compared to the same quarter last year. analysts expect that Southwest Airlines Co will post 4.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 27th. Stockholders of record on Wednesday, June 6th will be given a dividend of $0.16 per share. This is a boost from Southwest Airlines’s previous quarterly dividend of $0.13. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Tuesday, June 5th. Southwest Airlines’s payout ratio is presently 14.29%.
Several equities research analysts have issued reports on LUV shares. Citigroup dropped their price target on Southwest Airlines from $74.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, April 30th. Imperial Capital dropped their price target on Southwest Airlines from $75.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, April 27th. Buckingham Research raised Southwest Airlines from a “neutral” rating to a “buy” rating and set a $106.00 price target for the company in a research note on Thursday, March 22nd. They noted that the move was a valuation call. UBS dropped their price target on Southwest Airlines from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, March 22nd. Finally, ValuEngine lowered Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Monday, May 7th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company. Southwest Airlines has a consensus rating of “Buy” and a consensus price target of $68.55.
Southwest Airlines Profile
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, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 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, Turks, and Chaos.
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