Checchi Capital Advisers LLC cut its holdings in Southwest Airlines Co (NYSE:LUV) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,341 shares of the airline’s stock after selling 567 shares during the period. Checchi Capital Advisers LLC’s holdings in Southwest Airlines were worth $295,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mackenzie Financial Corp raised its position in Southwest Airlines by 496.7% in the fourth quarter. Mackenzie Financial Corp now owns 75,535 shares of the airline’s stock valued at $3,511,000 after purchasing an additional 62,876 shares during the period. Canada Pension Plan Investment Board raised its position in Southwest Airlines by 41.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 595,254 shares of the airline’s stock valued at $27,665,000 after purchasing an additional 174,950 shares during the period. South Dakota Investment Council raised its position in Southwest Airlines by 92.2% in the fourth quarter. South Dakota Investment Council now owns 271,373 shares of the airline’s stock valued at $12,613,000 after purchasing an additional 130,180 shares during the period. SRS Capital Advisors Inc. raised its position in Southwest Airlines by 183.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,630 shares of the airline’s stock valued at $122,000 after purchasing an additional 1,703 shares during the period. Finally, Telemus Capital LLC raised its position in Southwest Airlines by 20.3% in the fourth quarter. Telemus Capital LLC now owns 4,378 shares of the airline’s stock valued at $203,000 after purchasing an additional 738 shares during the period. Hedge funds and other institutional investors own 80.88% of the company’s stock.
Southwest Airlines stock opened at $54.41 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.58 and a current ratio of 0.64. The firm has a market cap of $30.44 billion, a PE ratio of 12.83, a P/E/G ratio of 0.89 and a beta of 1.54. Southwest Airlines Co has a twelve month low of $44.28 and a twelve month high of $64.02.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, January 24th. The airline reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.68 billion. Southwest Airlines had a net margin of 11.22% and a return on equity of 24.56%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Analysts predict that Southwest Airlines Co will post 5.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.18%. Southwest Airlines’s payout ratio is currently 15.09%.
A number of brokerages have issued reports on LUV. Vertical Research began coverage on Southwest Airlines in a research report on Monday, February 4th. They issued a “buy” rating on the stock. Goldman Sachs Group lowered Southwest Airlines from a “neutral” rating to a “sell” rating and cut their target price for the company from $66.00 to $54.00 in a research report on Wednesday. Macquarie set a $65.00 target price on Southwest Airlines and gave the company a “buy” rating in a research report on Tuesday, January 29th. Imperial Capital reaffirmed an “in-line” rating and set a $62.00 price objective (up previously from $56.00) on shares of Southwest Airlines in a research report on Tuesday, December 4th. Finally, Cowen reaffirmed a “market perform” rating and set a $58.00 price objective (up previously from $54.00) on shares of Southwest Airlines in a research report on Friday, January 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $61.84.
In related news, Director John T. Montford sold 980 shares of the business’s stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $51.27, for a total transaction of $50,244.60. Following the completion of the transaction, the director now owns 20,983 shares in the company, valued at $1,075,798.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.
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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, and Turks and Caicos.
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