QCI Asset Management Inc. NY lifted its stake in shares of Southwest Airlines Co (NYSE:LUV) by 86,133.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 251,801 shares of the airline’s stock after buying an additional 251,509 shares during the period. QCI Asset Management Inc. NY’s holdings in Southwest Airlines were worth $12,812,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Archford Capital Strategies LLC acquired a new stake in shares of Southwest Airlines during the 1st quarter worth $121,000. Private Capital Group LLC grew its holdings in shares of Southwest Airlines by 819.2% during the 1st quarter. Private Capital Group LLC now owns 1,866 shares of the airline’s stock worth $107,000 after purchasing an additional 1,663 shares in the last quarter. Clarus Wealth Advisors acquired a new stake in shares of Southwest Airlines during the 2nd quarter worth $107,000. CWM LLC acquired a new stake in shares of Southwest Airlines during the 2nd quarter worth $109,000. Finally, Transamerica Financial Advisors Inc. acquired a new stake in shares of Southwest Airlines during the 1st quarter worth $128,000. 80.18% of the stock is currently owned by institutional investors.
In related news, SVP Mark R. Shaw sold 4,910 shares of the firm’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $58.35, for a total value of $286,498.50. Following the sale, the senior vice president now directly owns 11,546 shares of the company’s stock, valued at $673,709.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John T. Montford sold 430 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $58.27, for a total value of $25,056.10. Following the completion of the sale, the director now directly owns 23,853 shares in the company, valued at $1,389,914.31. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
Several analysts have recently issued reports on the company. Stephens set a $69.00 target price on Southwest Airlines and gave the stock a “buy” rating in a report on Friday, July 27th. Buckingham Research increased their target price on Southwest Airlines from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Cowen increased their target price on Southwest Airlines from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, July 27th. ValuEngine raised Southwest Airlines from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Finally, Barclays reduced their target price on Southwest Airlines from $74.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, July 16th. Six investment analysts have rated the stock with 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 price target of $67.38.
NYSE:LUV opened at $58.99 on Friday. The stock has a market capitalization of $33.80 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.48. Southwest Airlines Co has a twelve month low of $49.76 and a twelve month high of $66.99.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, July 26th. The airline reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.75 billion. Southwest Airlines had a return on equity of 22.16% and a net margin of 16.90%. Southwest Airlines’s revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. equities analysts predict that Southwest Airlines Co will post 4.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Investors of record on Wednesday, August 22nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.08%. The ex-dividend date is Tuesday, August 21st. Southwest Airlines’s dividend payout ratio (DPR) is presently 18.29%.
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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