Cullen Frost Bankers Inc. lowered its position in Southwest Airlines Co. (NYSE:LUV) by 18.5% during the second quarter, Holdings Channel reports. The fund owned 470,384 shares of the airline’s stock after selling 106,488 shares during the period. Cullen Frost Bankers Inc.’s holdings in Southwest Airlines were worth $18,444,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group purchased a new position in Southwest Airlines during the first quarter worth about $216,000. Telemus Capital LLC purchased a new position in Southwest Airlines during the first quarter worth about $261,000. Checchi Capital Advisers LLC raised its position in Southwest Airlines by 3.4% in the second quarter. Checchi Capital Advisers LLC now owns 6,071 shares of the airline’s stock worth $238,000 after buying an additional 202 shares during the last quarter. Pitcairn Co. raised its position in Southwest Airlines by 2.8% in the second quarter. Pitcairn Co. now owns 6,071 shares of the airline’s stock worth $238,000 after buying an additional 165 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC purchased a new position in Southwest Airlines during the second quarter worth about $244,000. 78.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Southwest Airlines Co. (NYSE:LUV) traded up 1.14% during midday trading on Thursday, hitting $37.33. The stock had a trading volume of 6,558,598 shares. The firm’s 50-day moving average is $36.95 and its 200 day moving average is $40.96. Southwest Airlines Co. has a one year low of $33.96 and a one year high of $51.34. The company has a market capitalization of $23.15 billion, a PE ratio of 9.90 and a beta of 0.84.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, July 21st. The airline reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by $0.02. The company earned $5.38 billion during the quarter, compared to the consensus estimate of $5.41 billion. Southwest Airlines had a net margin of 11.95% and a return on equity of 34.25%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 EPS. Equities analysts expect that Southwest Airlines Co. will post $3.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 18th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.40 dividend on an annualized basis and a yield of 1.07%. Southwest Airlines’s dividend payout ratio is presently 10.61%.
A number of research firms recently issued reports on LUV. Cowen and Company reaffirmed a “buy” rating on shares of Southwest Airlines in a report on Sunday, June 26th. Vetr raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Tuesday, August 2nd. Zacks Investment Research lowered Southwest Airlines from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. Imperial Capital began coverage on Southwest Airlines in a report on Friday, September 9th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $57.00 price target on shares of Southwest Airlines in a research note on Saturday, June 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Southwest Airlines presently has an average rating of “Buy” and an average price target of $47.85.
In other Southwest Airlines news, SVP Mark R. Shaw sold 1,776 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $37.62, for a total value of $66,813.12. Following the completion of the sale, the senior vice president now directly owns 5,226 shares in the company, valued at $196,602.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary C. Kelly purchased 28,106 shares of the stock in a transaction on Tuesday, August 2nd. The stock was acquired at an average price of $35.58 per share, with a total value of $1,000,011.48. Following the completion of the acquisition, the insider now directly owns 505,119 shares of the company’s stock, valued at $17,972,134.02. The disclosure for this purchase can be found here. 0.18% of the stock is owned by corporate insiders.
Southwest Airlines Company Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
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