Southwest Airlines Co (NYSE:LUV) Chairman Gary C. Kelly sold 51,000 shares of Southwest Airlines stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $57.06, for a total transaction of $2,910,060.00. Following the sale, the chairman now owns 556,808 shares of the company’s stock, valued at $31,771,464.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Southwest Airlines Co (NYSE:LUV) traded up 1.31% on Friday, reaching $58.04. 3,389,235 shares of the company were exchanged. Southwest Airlines Co has a 1-year low of $35.42 and a 1-year high of $59.68. The stock has a market capitalization of $35.09 billion, a PE ratio of 17.41 and a beta of 0.88. The company has a 50-day moving average price of $56.07 and a 200 day moving average price of $52.21.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, April 27th. The airline reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Southwest Airlines had a net margin of 10.97% and a return on equity of 29.79%. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.91 billion. During the same period last year, the business earned $0.88 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, analysts forecast that Southwest Airlines Co will post $3.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, June 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.87%. This is an increase from Southwest Airlines’s previous quarterly dividend of $0.10. Southwest Airlines’s dividend payout ratio (DPR) is presently 11.33%.
Several hedge funds have recently added to or reduced their stakes in LUV. Van ECK Associates Corp increased its stake in Southwest Airlines by 6.1% in the fourth quarter. Van ECK Associates Corp now owns 2,348 shares of the airline’s stock worth $117,000 after buying an additional 136 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in Southwest Airlines by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock worth $128,000 after buying an additional 15 shares during the last quarter. Perennial Advisors LLC bought a new stake in Southwest Airlines during the fourth quarter worth $137,000. Independent Advisor Alliance bought a new stake in Southwest Airlines during the fourth quarter worth $143,000. Finally, TrimTabs Asset Management LLC increased its stake in Southwest Airlines by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,821 shares of the airline’s stock worth $152,000 after buying an additional 1,328 shares during the last quarter. 76.70% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the stock. Scotiabank reiterated a “sector perform” rating on shares of Southwest Airlines in a research report on Thursday, May 4th. Morgan Stanley reiterated an “overweight” rating and set a $61.00 price target on shares of Southwest Airlines in a research report on Wednesday, February 22nd. Sanford C. Bernstein reiterated an “outperform” rating and set a $50.00 price target on shares of Southwest Airlines in a research report on Friday, March 3rd. Vetr cut shares of Southwest Airlines from a “buy” rating to a “hold” rating and set a $58.51 price target for the company. in a research report on Thursday, February 16th. Finally, Imperial Capital reiterated an “outperform” rating on shares of Southwest Airlines in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $55.25.
Southwest Airlines Company 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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