Bristol Gate Capital Partners Inc. increased its position in shares of Southwest Airlines Co. (NYSE:LUV) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 638,645 shares of the airline’s stock after buying an additional 42,729 shares during the period. Southwest Airlines comprises about 4.5% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 19th largest position. Bristol Gate Capital Partners Inc.’s holdings in Southwest Airlines were worth $25,041,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LUV. Bank of Montreal Can acquired a new stake in Southwest Airlines during the second quarter worth about $246,179,000. Capital Fund Management S.A. increased its stake in Southwest Airlines by 472.4% in the second quarter. Capital Fund Management S.A. now owns 1,718,192 shares of the airline’s stock worth $67,370,000 after buying an additional 1,418,012 shares during the period. Wellington Management Group LLP increased its stake in Southwest Airlines by 261.0% in the first quarter. Wellington Management Group LLP now owns 1,550,920 shares of the airline’s stock worth $69,481,000 after buying an additional 1,121,332 shares during the period. Strs Ohio increased its stake in Southwest Airlines by 393.0% in the second quarter. Strs Ohio now owns 776,030 shares of the airline’s stock worth $30,428,000 after buying an additional 618,608 shares during the period. Finally, First Quadrant L P CA increased its stake in Southwest Airlines by 270.2% in the second quarter. First Quadrant L P CA now owns 838,500 shares of the airline’s stock worth $32,878,000 after buying an additional 612,000 shares during the period. 78.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Southwest Airlines Co. (NYSE:LUV) traded up 1.07% on Tuesday, reaching $41.68. The company’s stock had a trading volume of 8,755,648 shares. The stock has a market cap of $25.85 billion, a P/E ratio of 11.06 and a beta of 0.79. The firm’s 50-day moving average price is $38.16 and its 200-day moving average price is $40.37. Southwest Airlines Co. has a 12 month low of $33.96 and a 12 month high of $51.34.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 21st. The airline reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by $0.02. Southwest Airlines had a return on equity of 34.25% and a net margin of 11.95%. The firm earned $5.38 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same period last year, the business posted $1.03 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. On average, analysts forecast that Southwest Airlines Co. will post $3.78 earnings per share for the current fiscal year.
A number of analysts have recently issued reports on LUV shares. Credit Suisse Group AG reiterated an “outperform” rating on shares of Southwest Airlines in a report on Wednesday, July 6th. Bank of America Corp. set a $50.00 price objective on shares of Southwest Airlines and gave the company a “buy” rating in a report on Saturday, October 1st. Buckingham Research downgraded shares of Southwest Airlines from a “buy” rating to a “neutral” rating in a report on Friday, July 22nd. Vetr downgraded shares of Southwest Airlines from a “strong-buy” rating to a “strong sell” rating and set a $34.96 price objective on the stock. in a report on Monday, July 11th. Finally, Imperial Capital initiated coverage on shares of Southwest Airlines in a report on Friday, September 9th. They set an “outperform” rating and a $46.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Southwest Airlines presently has an average rating of “Buy” and a consensus price target of $48.36.
In other Southwest Airlines news, COO De Ven Michael G. Van purchased 4,200 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was purchased at an average price of $35.77 per share, for a total transaction of $150,234.00. Following the transaction, the chief operating officer now owns 183,245 shares in the company, valued at approximately $6,554,673.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mark R. Shaw sold 1,776 shares of Southwest Airlines stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $37.62, for a total value of $66,813.12. Following the sale, the senior vice president now owns 5,226 shares of the company’s stock, valued at approximately $196,602.12. The disclosure for this sale 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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