Total Investment Management Inc. reduced its stake in shares of Southwest Airlines Co (NYSE:LUV) by 32.8% in the second quarter, HoldingsChannel.com reports. The firm owned 6,116 shares of the airline’s stock after selling 2,991 shares during the period. Southwest Airlines accounts for approximately 0.1% of Total Investment Management Inc.’s holdings, making the stock its 29th largest position. Total Investment Management Inc.’s holdings in Southwest Airlines were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Private Capital Group LLC lifted its stake in Southwest Airlines by 819.2% in the first quarter. Private Capital Group LLC now owns 1,866 shares of the airline’s stock worth $107,000 after acquiring an additional 1,663 shares during the period. Clarus Wealth Advisors purchased a new stake in Southwest Airlines in the second quarter worth about $107,000. Archford Capital Strategies LLC purchased a new stake in Southwest Airlines in the first quarter worth about $121,000. Transamerica Financial Advisors Inc. purchased a new stake in Southwest Airlines in the first quarter worth about $128,000. Finally, Financial Gravity Wealth Inc. purchased a new stake in Southwest Airlines in the first quarter worth about $168,000. 79.56% of the stock is owned by hedge funds and other institutional investors.
Shares of Southwest Airlines traded up $0.02, hitting $53.09, during mid-day trading on Monday, according to Marketbeat. 175,804 shares of the company traded hands, compared to its average volume of 5,399,565. Southwest Airlines Co has a 1-year low of $49.76 and a 1-year high of $66.99. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.50. The company has a market cap of $30.78 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.05 and a beta of 1.10.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, April 26th. The airline reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Southwest Airlines had a net margin of 16.95% and a return on equity of 23.25%. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. research analysts anticipate that Southwest Airlines Co will post 4.27 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 27th. Stockholders of record on Wednesday, June 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 5th. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. This is an increase from Southwest Airlines’s previous quarterly dividend of $0.13. Southwest Airlines’s dividend payout ratio is 18.29%.
A number of research firms recently weighed in on LUV. Barclays lowered their price objective on shares of Southwest Airlines from $74.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday. Zacks Investment Research raised shares of Southwest Airlines from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Argus downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating and reduced their target price for the stock from $66.99 to $49.76 in a report on Friday, June 15th. Buckingham Research reduced their target price on shares of Southwest Airlines from $68.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, June 13th. Finally, Edward Jones upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating in a report on Tuesday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $67.32.
About Southwest Airlines
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, Turks, and Chaos.
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