White Pine Investment CO lifted its stake in shares of Southwest Airlines Co (NYSE:LUV) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,135 shares of the airline’s stock after acquiring an additional 2,775 shares during the quarter. Southwest Airlines makes up 2.5% of White Pine Investment CO’s holdings, making the stock its 18th biggest holding. White Pine Investment CO’s holdings in Southwest Airlines were worth $4,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. QCI Asset Management Inc. NY grew its stake in Southwest Airlines by 86,133.2% during the second quarter. QCI Asset Management Inc. NY now owns 251,801 shares of the airline’s stock worth $12,812,000 after purchasing an additional 251,509 shares during the period. San Francisco Sentry Investment Group CA grew its stake in Southwest Airlines by 28.5% during the second quarter. San Francisco Sentry Investment Group CA now owns 9,012 shares of the airline’s stock worth $459,000 after purchasing an additional 2,000 shares during the period. Teacher Retirement System of Texas grew its stake in Southwest Airlines by 12.8% during the second quarter. Teacher Retirement System of Texas now owns 236,127 shares of the airline’s stock worth $12,014,000 after purchasing an additional 26,858 shares during the period. Mackay Shields LLC grew its stake in Southwest Airlines by 10.3% during the second quarter. Mackay Shields LLC now owns 176,632 shares of the airline’s stock worth $8,988,000 after purchasing an additional 16,532 shares during the period. Finally, Belpointe Asset Management LLC grew its stake in Southwest Airlines by 15.2% during the second quarter. Belpointe Asset Management LLC now owns 8,239 shares of the airline’s stock worth $419,000 after purchasing an additional 1,090 shares during the period. Institutional investors own 80.18% of the company’s stock.
LUV has been the subject of several recent analyst reports. Stephens set a $74.00 target price on Southwest Airlines and gave the stock a “buy” rating in a research note on Tuesday, April 17th. Imperial Capital decreased their target price on Southwest Airlines from $75.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, April 27th. Cowen decreased their target price on Southwest Airlines from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, April 27th. Citigroup decreased their target price on Southwest Airlines from $74.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, April 30th. Finally, ValuEngine cut Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Monday, May 7th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Southwest Airlines currently has a consensus rating of “Buy” and an average target price of $67.38.
Shares of Southwest Airlines opened at $58.99 on Friday, MarketBeat Ratings reports. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.48. Southwest Airlines Co has a 52 week low of $49.76 and a 52 week high of $66.99. The company has a market capitalization of $33.80 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.19 and a beta of 1.15.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 26th. The airline reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.03. Southwest Airlines had a return on equity of 22.16% and a net margin of 16.90%. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same quarter last year, the firm posted $1.24 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. research analysts predict that Southwest Airlines Co will post 4.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 12th. Investors of record on Wednesday, August 22nd will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, August 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.08%. Southwest Airlines’s payout ratio is 18.29%.
In related news, Director John T. Montford sold 430 shares of Southwest Airlines stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $58.27, for a total transaction of $25,056.10. Following the transaction, the director now owns 23,853 shares of the company’s stock, valued at $1,389,914.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mark R. Shaw sold 4,910 shares of Southwest Airlines stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $58.35, for a total value of $286,498.50. Following the transaction, the senior vice president now directly owns 11,546 shares in the company, valued at approximately $673,709.10. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.
Southwest Airlines Company Profile
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.
Further Reading: Leveraged Buyout (LBO) Explained
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