Teachers Retirement System of The State of Kentucky cut its holdings in Southwest Airlines Company (NYSE:LUV) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 370,868 shares of the airline’s stock after selling 3,000 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.06% of Southwest Airlines worth $23,045,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of LUV. BlackRock Inc. lifted its stake in Southwest Airlines by 4,163.3% in the first quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock valued at $1,880,703,000 after buying an additional 34,162,752 shares during the period. Egerton Capital UK LLP lifted its stake in Southwest Airlines by 39.0% in the first quarter. Egerton Capital UK LLP now owns 9,401,341 shares of the airline’s stock valued at $505,416,000 after buying an additional 2,638,743 shares during the period. Boston Partners acquired a new position in Southwest Airlines in the second quarter valued at approximately $153,454,000. Skandinaviska Enskilda Banken AB publ lifted its stake in Southwest Airlines by 8,363.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,852,840 shares of the airline’s stock valued at $99,609,000 after buying an additional 1,830,949 shares during the period. Finally, Thrivent Financial For Lutherans lifted its stake in Southwest Airlines by 35.6% in the second quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock valued at $257,901,000 after buying an additional 1,090,189 shares during the period. 79.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Southwest Airlines Company (LUV) traded up 0.55% on Friday, hitting $54.93. The stock had a trading volume of 3,053,770 shares. The stock has a market cap of $32.88 billion, a PE ratio of 16.84 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 stock has a 50 day moving average of $53.62 and a 200-day moving average of $56.82.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping the Thomson Reuters’ 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 in the previous year, the company posted $1.19 earnings per share. Southwest Airlines’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that Southwest Airlines Company will post $3.70 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 24th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Tuesday, August 22nd. Southwest Airlines’s payout ratio is currently 15.34%.
Several equities analysts have issued reports on LUV shares. Cowen and Company reissued a “buy” rating and issued a $67.00 price target on shares of Southwest Airlines in a research note on Friday, July 28th. BidaskClub lowered Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Sunday, July 30th. Morgan Stanley reissued an “overweight” rating on shares of Southwest Airlines in a research note on Tuesday, September 12th. Bank of America Corporation upped their target price on Southwest Airlines from $62.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Finally, Vetr lowered Southwest Airlines from a “buy” rating to a “hold” rating and set a $63.80 target price on the stock. in a research report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. Southwest Airlines presently has an average rating of “Buy” and an average target price of $67.26.
In other news, Director William H. Dr Cunningham acquired 4,500 shares of the business’s 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 completion of the acquisition, the director now directly owns 66,969 shares of the company’s stock, valued at approximately $3,616,326. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.21% of the company’s stock.
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Southwest Airlines Profile
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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