Allworth Financial LP Grows Position in Southwest Airlines Co. (NYSE:LUV)

Posted by Defense World Staff on Oct 2nd, 2023

Allworth Financial LP boosted its holdings in Southwest Airlines Co. (NYSE:LUV – Free Report) by 9.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,926 shares of the airline’s stock after acquiring an additional 1,195 shares during the quarter. Allworth Financial LP’s holdings in Southwest Airlines were worth $504,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. CoreCap Advisors LLC acquired a new stake in Southwest Airlines in the fourth quarter valued at $32,000. Samalin Investment Counsel LLC grew its holdings in Southwest Airlines by 247.5% in the first quarter. Samalin Investment Counsel LLC now owns 702 shares of the airline’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. Pacific Center for Financial Services acquired a new stake in Southwest Airlines in the first quarter valued at $33,000. True Wealth Design LLC acquired a new stake in Southwest Airlines in the fourth quarter valued at $38,000. Finally, ICA Group Wealth Management LLC acquired a new stake in Southwest Airlines in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 78.22% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on LUV shares. Deutsche Bank Aktiengesellschaft lowered Southwest Airlines from a “buy” rating to a “hold” rating and lowered their target price for the company from $52.00 to $38.00 in a report on Friday, July 28th. Raymond James lowered Southwest Airlines from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $47.00 to $40.00 in a research note on Friday, July 28th. StockNews.com assumed coverage on Southwest Airlines in a research note on Thursday, August 17th. They set a “hold” rating on the stock. BNP Paribas lowered Southwest Airlines from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Wednesday, September 6th. Finally, The Goldman Sachs Group decreased their price objective on Southwest Airlines from $34.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.49.

Check Out Our Latest Analysis on LUV

Southwest Airlines Stock Performance

Southwest Airlines stock opened at $27.07 on Monday. The stock’s 50-day moving average is $31.28 and its 200-day moving average is $31.91. The company has a market cap of $16.12 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 0.57 and a beta of 1.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.25 and a quick ratio of 1.19. Southwest Airlines Co. has a 12 month low of $26.46 and a 12 month high of $40.38.

Southwest Airlines (NYSE:LUV – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The airline reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. Southwest Airlines had a return on equity of 5.81% and a net margin of 2.31%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $1.30 EPS. Equities analysts anticipate that Southwest Airlines Co. will post 1.96 earnings per share for the current year.

Southwest Airlines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, September 5th. This represents a $0.72 annualized dividend and a dividend yield of 2.66%. Southwest Airlines’s payout ratio is currently 81.82%.

Southwest Airlines Profile

(Free Report)

Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2022, the company operated a total fleet of 770 Boeing 737 aircrafts; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.