Horrell Capital Management Inc. held its stake in Southwest Airlines Co. (NYSE:LUV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the airline’s stock at the end of the second quarter. Horrell Capital Management Inc.’s holdings in Southwest Airlines were worth $448,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the company. State Street Corp raised its stake in Southwest Airlines by 1.7% in the first quarter. State Street Corp now owns 22,391,063 shares of the airline’s stock valued at $1,003,110,000 after buying an additional 373,352 shares during the period. Bank of Montreal Can bought a new stake in Southwest Airlines during the second quarter valued at $246,179,000. Anchor Bolt Capital LP raised its stake in Southwest Airlines by 2.5% in the first quarter. Anchor Bolt Capital LP now owns 4,100,671 shares of the airline’s stock valued at $183,710,000 after buying an additional 99,921 shares during the period. BlackRock Group LTD raised its stake in Southwest Airlines by 5.7% in the first quarter. BlackRock Group LTD now owns 3,798,226 shares of the airline’s stock valued at $170,160,000 after buying an additional 204,229 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Southwest Airlines by 45.6% in the first quarter. JPMorgan Chase & Co. now owns 3,400,713 shares of the airline’s stock valued at $152,353,000 after buying an additional 1,065,198 shares during the period. Hedge funds and other institutional investors own 78.34% of the company’s stock.
Shares of Southwest Airlines Co. (NYSE:LUV) traded down 0.99% during mid-day trading on Monday, reaching $36.87. The company’s stock had a trading volume of 5,718,693 shares. The firm has a market cap of $22.87 billion, a price-to-earnings ratio of 9.78 and a beta of 0.84. The firm has a 50 day moving average price of $37.02 and a 200 day moving average price of $40.91. Southwest Airlines Co. has a 52-week low of $33.96 and a 52-week high of $51.34.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, July 21st. The airline reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.02. Southwest Airlines had a net margin of 11.95% and a return on equity of 34.25%. The business earned $5.38 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that Southwest Airlines Co. will post $3.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were given a $0.10 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.08%. Southwest Airlines’s payout ratio is 10.61%.
LUV has been the subject of several analyst reports. Credit Suisse Group AG restated an “outperform” rating on shares of Southwest Airlines in a report on Wednesday, July 6th. Buckingham Research lowered Southwest Airlines from a “buy” rating to a “neutral” rating in a report on Friday, July 22nd. Vetr lowered Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $48.33 target price for the company. in a report on Wednesday, June 8th. Imperial Capital initiated coverage on Southwest Airlines in a report on Friday, September 9th. They set an “outperform” rating and a $46.00 price target for the company. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $57.00 price target on shares of Southwest Airlines in a report on Saturday, June 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. Southwest Airlines presently has a consensus rating of “Buy” and a consensus price target of $47.85.
In other news, Director William H. Dr Cunningham purchased 5,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was acquired at an average cost of $35.80 per share, with a total value of $204,060.00. Following the acquisition, the director now owns 56,283 shares in the company, valued at approximately $2,014,931.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary C. Kelly purchased 28,106 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were purchased at an average cost of $35.58 per share, with a total value of $1,000,011.48. Following the completion of the acquisition, the insider now owns 505,119 shares in the company, valued at approximately $17,972,134.02. The disclosure for this purchase can be found here. 0.18% of the stock is owned by 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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