Skandinaviska Enskilda Banken AB publ increased its holdings in Southwest Airlines Co. (NYSE:LUV – Get Rating) by 22.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,505 shares of the airline’s stock after acquiring an additional 5,114 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Southwest Airlines were worth $848,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its stake in Southwest Airlines by 50.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,424,863 shares of the airline’s stock worth $43,943,000 after acquiring an additional 478,192 shares in the last quarter. Cadence Bank raised its stake in shares of Southwest Airlines by 25.6% during the 3rd quarter. Cadence Bank now owns 17,674 shares of the airline’s stock worth $545,000 after purchasing an additional 3,600 shares in the last quarter. Rock Point Advisors LLC raised its stake in shares of Southwest Airlines by 15.3% during the 3rd quarter. Rock Point Advisors LLC now owns 83,929 shares of the airline’s stock worth $2,588,000 after purchasing an additional 11,153 shares in the last quarter. Sigma Planning Corp raised its stake in shares of Southwest Airlines by 2.2% during the 3rd quarter. Sigma Planning Corp now owns 31,847 shares of the airline’s stock worth $982,000 after purchasing an additional 677 shares in the last quarter. Finally, Cornerstone Advisors LLC raised its stake in shares of Southwest Airlines by 333.3% during the 3rd quarter. Cornerstone Advisors LLC now owns 78,000 shares of the airline’s stock worth $2,406,000 after purchasing an additional 60,000 shares in the last quarter. 74.71% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on LUV shares. The Goldman Sachs Group began coverage on Southwest Airlines in a research note on Friday, December 16th. They set a “neutral” rating and a $41.00 price target for the company. StockNews.com downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Thursday, January 12th. Cowen lowered their target price on Southwest Airlines from $55.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 27th. Morgan Stanley lowered their target price on Southwest Airlines from $68.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Finally, Raymond James lowered their target price on Southwest Airlines from $48.00 to $45.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 5th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Southwest Airlines currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.56.
Southwest Airlines Trading Up 0.1 %
Southwest Airlines (NYSE:LUV – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The airline reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.35). Southwest Airlines had a net margin of 2.26% and a return on equity of 6.71%. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.14 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. Analysts predict that Southwest Airlines Co. will post 2.74 EPS for the current fiscal year.
Southwest Airlines Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 8th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, March 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.14%. Southwest Airlines’s payout ratio is currently 90.00%.
About Southwest Airlines
Southwest Airlines Co engages in the operation and management of a passenger airline. It offers ancillary services such as early bird check-in, upgraded boarding, and transportation of pets and unaccompanied minors. The firm operates in U.S. states, District of Columbia, the Commonwealth of Puerto Rico, Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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