Palisade Capital Management LLC NJ purchased a new position in shares of Southwest Airlines Co (NYSE:LUV) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,082 shares of the airline’s stock, valued at approximately $692,000.
Other large investors also recently modified their holdings of the company. Cerebellum GP LLC bought a new stake in Southwest Airlines during the fourth quarter worth $127,000. Transamerica Financial Advisors Inc. bought a new stake in Southwest Airlines during the first quarter worth $128,000. SeaCrest Wealth Management LLC bought a new stake in Southwest Airlines during the fourth quarter worth $136,000. Delpha Capital Management LLC bought a new stake in Southwest Airlines during the fourth quarter worth $151,000. Finally, Financial Gravity Wealth Inc. bought a new stake in Southwest Airlines during the first quarter worth $168,000. 80.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of Southwest Airlines opened at $51.94 on Friday, Marketbeat Ratings reports. The firm has a market cap of $29.56 billion, a P/E ratio of 14.84, a P/E/G ratio of 0.92 and a beta of 1.14. 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 Co has a 12-month low of $49.76 and a 12-month high of $66.99.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, April 26th. The airline reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. Southwest Airlines had a return on equity of 23.25% and a net margin of 16.95%. The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5 billion. During the same period last year, the business posted $0.61 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. analysts expect that Southwest Airlines Co will post 4.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 27th. Shareholders of record on Wednesday, June 6th will be issued a dividend of $0.16 per share. This is an increase from Southwest Airlines’s previous quarterly dividend of $0.13. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, June 5th. Southwest Airlines’s dividend payout ratio (DPR) is presently 18.29%.
Several equities research analysts have weighed in on LUV shares. Vetr cut Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $63.03 target price for the company. in a research note on Tuesday, February 27th. 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. Citigroup dropped their price target 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. Buckingham Research upgraded Southwest Airlines from a “neutral” rating to a “buy” rating and set a $106.00 price target for the company in a research note on Thursday, March 22nd. They noted that the move was a valuation call. Finally, UBS Group dropped their price target on Southwest Airlines from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, March 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $67.95.
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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