Cibc World Market Inc. Purchases 1,826 Shares of Southwest Airlines Co. (NYSE:LUV)

Cibc World Market Inc. increased its stake in Southwest Airlines Co. (NYSE:LUVGet Rating) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,015 shares of the airline’s stock after buying an additional 1,826 shares during the quarter. Cibc World Market Inc.’s holdings in Southwest Airlines were worth $1,518,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Kentucky Retirement Systems lifted its position in Southwest Airlines by 2.0% in the first quarter. Kentucky Retirement Systems now owns 37,756 shares of the airline’s stock worth $1,729,000 after buying an additional 750 shares during the last quarter. Fisher Asset Management LLC lifted its position in Southwest Airlines by 9.1% in the first quarter. Fisher Asset Management LLC now owns 7,345 shares of the airline’s stock worth $336,000 after buying an additional 613 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its position in Southwest Airlines by 2.5% in the first quarter. Elo Mutual Pension Insurance Co now owns 11,265 shares of the airline’s stock worth $516,000 after buying an additional 270 shares during the last quarter. Raymond James & Associates lifted its position in Southwest Airlines by 6.4% in the first quarter. Raymond James & Associates now owns 556,066 shares of the airline’s stock worth $25,468,000 after buying an additional 33,606 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Southwest Airlines by 142.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 37,278 shares of the airline’s stock worth $1,707,000 after buying an additional 21,928 shares during the last quarter. 76.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Southwest Airlines

In other Southwest Airlines news, Director John T. Montford sold 2,250 shares of Southwest Airlines stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $38.87, for a total value of $87,457.50. Following the transaction, the director now owns 21,046 shares in the company, valued at $818,058.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LUV shares. Morgan Stanley decreased their target price on Southwest Airlines from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, August 2nd. Bank of America decreased their target price on Southwest Airlines from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, October 6th. Argus downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Susquehanna Bancshares decreased their target price on Southwest Airlines from $45.00 to $40.00 in a research report on Tuesday, October 11th. Finally, Citigroup lifted their target price on Southwest Airlines to $40.00 in a research report on Tuesday, November 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.76.

Southwest Airlines Price Performance

LUV opened at $38.11 on Friday. The business’s 50-day moving average is $34.76 and its two-hundred day moving average is $38.03. Southwest Airlines Co. has a 1 year low of $30.20 and a 1 year high of $50.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.58 and a quick ratio of 1.50. The firm has a market capitalization of $22.63 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.78 and a beta of 1.07.

Southwest Airlines (NYSE:LUVGet Rating) last posted its earnings results on Thursday, October 27th. The airline reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. Southwest Airlines had a return on equity of 9.66% and a net margin of 3.64%. The company had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. The firm’s quarterly revenue was up 32.5% compared to the same quarter last year. Research analysts anticipate that Southwest Airlines Co. will post 2.29 earnings per share for the current fiscal year.

Southwest Airlines Profile

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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, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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