Dupont Capital Management Corp reduced its holdings in shares of Southwest Airlines (NYSE:LUV) by 50.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,198 shares of the airline’s stock after selling 22,345 shares during the period. Dupont Capital Management Corp’s holdings in Southwest Airlines were worth $1,272,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of LUV. Checchi Capital Advisers LLC lifted its position in Southwest Airlines by 15.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,580 shares of the airline’s stock valued at $431,000 after buying an additional 878 shares during the period. Buckingham Asset Management LLC increased its holdings in shares of Southwest Airlines by 14.5% during the fourth quarter. Buckingham Asset Management LLC now owns 7,004 shares of the airline’s stock valued at $458,000 after acquiring an additional 886 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of Southwest Airlines by 13.0% during the fourth quarter. D.A. Davidson & CO. now owns 7,890 shares of the airline’s stock valued at $516,000 after acquiring an additional 905 shares in the last quarter. First Allied Advisory Services Inc. increased its holdings in shares of Southwest Airlines by 4.2% during the fourth quarter. First Allied Advisory Services Inc. now owns 26,246 shares of the airline’s stock valued at $1,718,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its holdings in shares of Southwest Airlines by 10.4% during the fourth quarter. Koshinski Asset Management Inc. now owns 12,256 shares of the airline’s stock valued at $802,000 after acquiring an additional 1,155 shares in the last quarter. Institutional investors and hedge funds own 82.94% of the company’s stock.
In other Southwest Airlines news, Director Douglas H. Brooks sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $60.05, for a total value of $600,500.00. Following the sale, the director now directly owns 56,269 shares of the company’s stock, valued at $3,378,953.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO De Ven Michael G. Van sold 31,099 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $57.35, for a total value of $1,783,527.65. Following the completion of the sale, the chief operating officer now directly owns 172,883 shares in the company, valued at $9,914,840.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,473 shares of company stock worth $6,296,091. 0.23% of the stock is owned by corporate insiders.
Several research firms recently commented on LUV. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $65.42 price objective for the company in a report on Thursday, January 25th. JPMorgan Chase downgraded Southwest Airlines from an “overweight” rating to a “neutral” rating and set a $70.00 price target for the company. in a research note on Tuesday, January 30th. Zacks Investment Research downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Buckingham Research raised Southwest Airlines from a “neutral” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Thursday, March 22nd. They noted that the move was a valuation call. Finally, UBS lowered their price objective on Southwest Airlines from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, March 22nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $68.55.
Shares of Southwest Airlines opened at $52.47 on Friday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.67 and a quick ratio of 0.61. Southwest Airlines has a 1-year low of $51.61 and a 1-year high of $52.98. The firm has a market cap of $30.74 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.88 and a beta of 1.16.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, April 26th. The airline reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5 billion. Southwest Airlines had a return on equity of 23.25% and a net margin of 16.95%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 earnings per share. equities analysts forecast that Southwest Airlines will post 4.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 27th. Investors of record on Wednesday, June 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.22%. This is a positive change from Southwest Airlines’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, June 5th. Southwest Airlines’s dividend payout ratio (DPR) is 14.29%.
Southwest Airlines 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.
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