TD Asset Management Inc. boosted its stake in shares of Southwest Airlines Co (NYSE:LUV) by 19.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 324,442 shares of the airline’s stock after acquiring an additional 52,775 shares during the period. TD Asset Management Inc. owned 0.06% of Southwest Airlines worth $16,475,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. AJO LP grew its stake in shares of Southwest Airlines by 9,537.6% in the 1st quarter. AJO LP now owns 1,518,979 shares of the airline’s stock worth $78,850,000 after buying an additional 1,503,218 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Southwest Airlines by 37.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,920,617 shares of the airline’s stock worth $228,736,000 after buying an additional 1,348,168 shares in the last quarter. Boston Partners grew its stake in shares of Southwest Airlines by 13.9% in the 1st quarter. Boston Partners now owns 9,998,417 shares of the airline’s stock worth $519,018,000 after buying an additional 1,219,028 shares in the last quarter. State of Tennessee Treasury Department grew its stake in shares of Southwest Airlines by 629.5% in the 1st quarter. State of Tennessee Treasury Department now owns 1,290,943 shares of the airline’s stock worth $67,013,000 after buying an additional 1,113,980 shares in the last quarter. Finally, Provident Trust Co. grew its stake in shares of Southwest Airlines by 31.6% in the 1st quarter. Provident Trust Co. now owns 3,719,195 shares of the airline’s stock worth $193,063,000 after buying an additional 892,013 shares in the last quarter. 84.25% of the stock is owned by institutional investors.
A number of equities analysts have commented on the stock. Barclays dropped their price objective on shares of Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Cowen reissued a “market perform” rating and issued a $57.00 price objective (up from $55.00) on shares of Southwest Airlines in a research note on Friday, July 26th. Morgan Stanley dropped their price objective on shares of Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating for the company in a research note on Wednesday. Zacks Investment Research cut shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Thursday, May 16th. Finally, Argus cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Southwest Airlines currently has a consensus rating of “Hold” and an average price target of $57.15.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.02. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.94 billion. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $1.26 EPS. As a group, sell-side analysts predict that Southwest Airlines Co will post 4.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st will be issued a $0.18 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $0.72 annualized dividend and a dividend yield of 1.45%. Southwest Airlines’s dividend payout ratio (DPR) is presently 16.98%.
Southwest Airlines Company 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, 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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