WS Management Lllp lowered its holdings in Southwest Airlines Co (NYSE:LUV) by 14.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,120,286 shares of the airline’s stock after selling 194,899 shares during the quarter. Southwest Airlines makes up about 3.5% of WS Management Lllp’s investment portfolio, making the stock its 8th largest holding. WS Management Lllp owned approximately 0.21% of Southwest Airlines worth $58,154,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LUV. Paragon Capital Management LLC bought a new position in Southwest Airlines during the 1st quarter valued at approximately $26,000. Shine Investment Advisory Services Inc. increased its position in Southwest Airlines by 208.0% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 616 shares of the airline’s stock valued at $32,000 after buying an additional 416 shares in the last quarter. Acadian Asset Management LLC bought a new position in Southwest Airlines during the 4th quarter valued at approximately $33,000. Destination Wealth Management increased its position in Southwest Airlines by 107.9% during the 1st quarter. Destination Wealth Management now owns 634 shares of the airline’s stock valued at $33,000 after buying an additional 329 shares in the last quarter. Finally, Field & Main Bank bought a new position in Southwest Airlines during the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 83.59% of the company’s stock.
A number of analysts have commented on LUV shares. Argus reissued a “buy” rating on shares of Southwest Airlines in a report on Wednesday, May 1st. Imperial Capital reissued an “in-line” rating and issued a $55.00 target price (up previously from $52.00) on shares of Southwest Airlines in a report on Friday, April 26th. Barclays cut their price objective on Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Raymond James lowered Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $53.25 price objective for the company. in a report on Monday, April 8th. Finally, ValuEngine upgraded Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $58.15.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, April 25th. The airline reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.09. Southwest Airlines had a return on equity of 23.94% and a net margin of 10.78%. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the firm posted $0.79 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, research analysts forecast that Southwest Airlines Co will post 4.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.18 per share. This is a boost from Southwest Airlines’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, June 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.42%. Southwest Airlines’s dividend payout ratio is currently 16.98%.
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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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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