Fisher Asset Management LLC decreased its stake in Southwest Airlines Co. (NYSE:LUV – Free Report) by 29.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,525 shares of the airline’s stock after selling 3,496 shares during the quarter. Fisher Asset Management LLC’s holdings in Southwest Airlines were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Samalin Investment Counsel LLC lifted its stake 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 buying an additional 500 shares during the period. Raleigh Capital Management Inc. raised its position in shares of Southwest Airlines by 279.2% during the second quarter. Raleigh Capital Management Inc. now owns 948 shares of the airline’s stock worth $34,000 after purchasing an additional 698 shares during the period. Pacific Center for Financial Services acquired a new stake in shares of Southwest Airlines during the first quarter worth about $33,000. True Wealth Design LLC acquired a new stake in shares of Southwest Airlines during the fourth quarter worth about $38,000. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Southwest Airlines during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 78.22% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Barclays dropped their price target on Southwest Airlines from $34.00 to $27.00 in a research report on Thursday, October 5th. BNP Paribas lowered Southwest Airlines from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a research report on Friday, November 10th. Redburn Partners lowered Southwest Airlines from a “neutral” rating to a “sell” rating and set a $27.00 target price on the stock. in a research report on Monday, August 7th. Susquehanna decreased their price target on Southwest Airlines from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, October 31st. Finally, Citigroup decreased their price target on Southwest Airlines from $32.75 to $28.00 in a research note on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $32.06.
Southwest Airlines Price Performance
Shares of NYSE LUV opened at $24.81 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.21 and a quick ratio of 1.14. Southwest Airlines Co. has a fifty-two week low of $21.91 and a fifty-two week high of $40.38. The stock has a market capitalization of $14.79 billion, a PE ratio of 33.08, a P/E/G ratio of 1.08 and a beta of 1.16. The business has a fifty day moving average price of $25.70 and a two-hundred day moving average price of $30.27.
Southwest Airlines (NYSE:LUV – Get Free Report) last posted its quarterly earnings results on Thursday, October 26th. The airline reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. Southwest Airlines had a return on equity of 5.08% and a net margin of 1.95%. The company had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. Southwest Airlines’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Southwest Airlines Co. will post 1.38 earnings per share for the current fiscal year.
Southwest Airlines Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Thursday, December 21st will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, December 20th. This represents a $0.72 dividend on an annualized basis and a yield of 2.90%. Southwest Airlines’s dividend payout ratio is currently 96.00%.
Southwest Airlines Company Profile
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.
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