Toronto Dominion Bank cut its stake in shares of Southwest Airlines Co (NYSE:LUV) by 68.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 304,666 shares of the airline’s stock after selling 655,813 shares during the period. Toronto Dominion Bank owned approximately 0.05% of Southwest Airlines worth $15,498,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in LUV. Boston Partners increased its position in shares of Southwest Airlines by 85.7% during the first quarter. Boston Partners now owns 8,483,493 shares of the airline’s stock valued at $485,934,000 after acquiring an additional 3,914,892 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Southwest Airlines during the first quarter valued at about $207,785,000. American Century Companies Inc. increased its position in shares of Southwest Airlines by 1,919.4% during the first quarter. American Century Companies Inc. now owns 2,613,827 shares of the airline’s stock valued at $149,720,000 after acquiring an additional 2,484,390 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Southwest Airlines by 742.4% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,039,718 shares of the airline’s stock valued at $59,555,000 after acquiring an additional 916,300 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Southwest Airlines by 32.7% during the first quarter. Wells Fargo & Company MN now owns 2,963,797 shares of the airline’s stock valued at $169,766,000 after acquiring an additional 730,162 shares during the last quarter. Institutional investors and hedge funds own 81.32% of the company’s stock.
In related news, 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 completion of the transaction, the senior vice president now owns 11,546 shares in the company, valued at $673,709.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the director now owns 23,853 shares of the company’s stock, valued at approximately $1,389,914.31. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
Shares of LUV stock opened at $59.68 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $33.80 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. Southwest Airlines Co has a fifty-two week low of $49.76 and a fifty-two week high of $66.99.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 26th. The airline reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Southwest Airlines had a net margin of 16.90% and a return on equity of 22.16%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 earnings per share. research analysts predict that Southwest Airlines Co will post 4.18 EPS for the current 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 issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Tuesday, August 21st. Southwest Airlines’s dividend payout ratio (DPR) is currently 18.29%.
LUV has been the subject of a number of recent analyst reports. Citigroup dropped their price target on shares of Southwest Airlines from $74.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, April 30th. Imperial Capital dropped their price target on shares of Southwest Airlines from $75.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, April 27th. ValuEngine cut shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Monday, May 7th. Edward Jones upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. Finally, Stephens set a $69.00 price target on shares of Southwest Airlines and gave the company a “buy” rating in a research report on Friday, July 27th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $67.38.
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, and Turks and Caicos.
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