Sei Investments Co. boosted its holdings in shares of Southwest Airlines Co. (NYSE:LUV – Free Report) by 105.3% during the first quarter, HoldingsChannel.com reports. The firm owned 592,515 shares of the airline’s stock after purchasing an additional 303,922 shares during the period. Sei Investments Co.’s holdings in Southwest Airlines were worth $22,261,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. SHP Wealth Management acquired a new position in shares of Southwest Airlines during the 4th quarter worth approximately $25,000. GHP Investment Advisors Inc. purchased a new position in shares of Southwest Airlines during the 4th quarter valued at approximately $26,000. Entrust Financial LLC acquired a new stake in Southwest Airlines in the 4th quarter valued at $26,000. Los Angeles Capital Management LLC acquired a new stake in Southwest Airlines in the 4th quarter valued at $26,000. Finally, Optima Capital LLC purchased a new stake in Southwest Airlines in the 4th quarter worth $27,000. 80.82% of the stock is owned by institutional investors and hedge funds.
Southwest Airlines Price Performance
Southwest Airlines stock opened at $46.41 on Wednesday. The company has a fifty day simple moving average of $46.34 and a 200-day simple moving average of $44.35. The firm has a market capitalization of $22.71 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 0.39 and a beta of 1.12. The company has a quick ratio of 0.42, a current ratio of 0.49 and a debt-to-equity ratio of 0.54. Southwest Airlines Co. has a 52-week low of $28.98 and a 52-week high of $55.11.
Southwest Airlines Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, June 11th. Southwest Airlines’s dividend payout ratio (DPR) is 44.17%.
Analyst Ratings Changes
Several research firms have issued reports on LUV. Weiss Ratings raised shares of Southwest Airlines from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 21st. Morgan Stanley upped their price target on shares of Southwest Airlines from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. The Goldman Sachs Group raised their price target on shares of Southwest Airlines from $30.00 to $35.00 and gave the company a “sell” rating in a research note on Thursday, July 2nd. HSBC upgraded Southwest Airlines from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $24.40 to $36.10 in a report on Friday, April 24th. Finally, Bank of America boosted their price objective on Southwest Airlines from $40.00 to $45.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 1st. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Southwest Airlines presently has an average rating of “Hold” and an average target price of $49.55.
View Our Latest Analysis on LUV
Southwest Airlines Profile
Southwest Airlines Co is a U.S.-based low-cost carrier that operates a point-to-point domestic and near-international airline network. Headquartered in Dallas, Texas, the company primarily flies Boeing 737 aircraft and offers no-frills, single-class service designed to keep fares competitive. Southwest’s operating model emphasizes high aircraft utilization, quick turnaround times and an open seating policy, allowing customers to board and select seats on a first-come, first-served basis.
Founded in 1967 by Herb Kelleher and Rollin King as Air Southwest Company, Southwest began commercial service in 1971, initially connecting Dallas, Houston and San Antonio.
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