Optimum Investment Advisors reduced its holdings in Southwest Airlines Co (NYSE:LUV) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,333 shares of the airline’s stock after selling 550 shares during the period. Optimum Investment Advisors’ holdings in Southwest Airlines were worth $387,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Ackerman Capital Advisors LLC lifted its position in Southwest Airlines by 4,145.5% during the fourth quarter. Ackerman Capital Advisors LLC now owns 424,554 shares of the airline’s stock worth $9,290,000 after buying an additional 414,554 shares in the last quarter. First Hawaiian Bank purchased a new position in Southwest Airlines during the third quarter worth approximately $1,829,000. Reilly Financial Advisors LLC purchased a new position in Southwest Airlines during the fourth quarter worth approximately $5,482,000. Valeo Financial Advisors LLC lifted its position in Southwest Airlines by 12.3% during the third quarter. Valeo Financial Advisors LLC now owns 11,534 shares of the airline’s stock worth $566,000 after buying an additional 1,265 shares in the last quarter. Finally, BB&T Corp purchased a new position in Southwest Airlines during the third quarter worth approximately $292,000. 80.69% of the stock is currently owned by institutional investors.
Shares of NYSE LUV opened at $57.65 on Monday. Southwest Airlines Co has a twelve month low of $44.28 and a twelve month high of $64.02. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $31.86 billion, a PE ratio of 13.60, a PEG ratio of 0.89 and a beta of 1.54.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, March 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.11%. Southwest Airlines’s payout ratio is presently 15.09%.
LUV has been the topic of a number of research analyst reports. Imperial Capital reduced their target price on Southwest Airlines from $66.00 to $56.00 and set an “in-line” rating on the stock in a research report on Friday, October 26th. Raymond James reduced their target price on Southwest Airlines from $68.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Buckingham Research reduced their target price on Southwest Airlines from $73.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, October 26th. JPMorgan Chase & Co. downgraded Southwest Airlines from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $63.00 to $52.00 in a research report on Tuesday, October 30th. Finally, Goldman Sachs Group initiated coverage on Southwest Airlines in a research report on Monday, November 12th. They issued a “neutral” rating and a $61.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. Southwest Airlines has a consensus rating of “Buy” and an average price target of $62.22.
In related news, Director John T. Montford sold 956 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $52.35, for a total transaction of $50,046.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John T. Montford sold 980 shares of the business’s stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $51.27, for a total value of $50,244.60. Following the transaction, the director now directly owns 20,983 shares of the company’s stock, valued at $1,075,798.41. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
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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, 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, and Turks and Caicos.
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