Mackenzie Financial Corp Sells 3,340 Shares of Southwest Airlines Co. (NYSE:LUV)

Mackenzie Financial Corp decreased its position in Southwest Airlines Co. (NYSE:LUV) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 456,800 shares of the airline’s stock after selling 3,340 shares during the quarter. Mackenzie Financial Corp’s holdings in Southwest Airlines were worth $13,192,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Advisors Inc. OK grew its position in Southwest Airlines by 66.8% in the 4th quarter. Capital Advisors Inc. OK now owns 21,242 shares of the airline’s stock worth $613,000 after purchasing an additional 8,507 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Southwest Airlines in the fourth quarter valued at approximately $1,040,000. Valeo Financial Advisors LLC increased its position in shares of Southwest Airlines by 17.8% during the fourth quarter. Valeo Financial Advisors LLC now owns 15,143 shares of the airline’s stock valued at $437,000 after acquiring an additional 2,291 shares during the last quarter. Janiczek Wealth Management LLC lifted its holdings in Southwest Airlines by 5,739.6% during the fourth quarter. Janiczek Wealth Management LLC now owns 3,095 shares of the airline’s stock worth $89,000 after acquiring an additional 3,042 shares during the period. Finally, Cerity Partners LLC purchased a new position in Southwest Airlines in the fourth quarter worth $692,000. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LUV. Deutsche Bank Aktiengesellschaft raised Southwest Airlines from a “hold” rating to a “buy” rating and raised their target price for the company from $28.00 to $42.00 in a research report on Tuesday, February 20th. TD Cowen raised their price objective on shares of Southwest Airlines from $20.00 to $26.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. UBS Group started coverage on shares of Southwest Airlines in a research note on Wednesday, March 20th. They issued a “buy” rating and a $36.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Southwest Airlines from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Finally, Susquehanna dropped their price objective on Southwest Airlines from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.82.

Southwest Airlines Price Performance

LUV stock opened at $29.38 on Friday. The firm has a 50 day moving average of $30.83 and a 200-day moving average of $28.48. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $17.58 billion, a P/E ratio of 39.17, a price-to-earnings-growth ratio of 1.03 and a beta of 1.15. Southwest Airlines Co. has a 12 month low of $21.91 and a 12 month high of $39.53.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, January 25th. The airline reported $0.37 EPS for the quarter, beating the consensus estimate of $0.12 by $0.25. The firm had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.75 billion. Southwest Airlines had a net margin of 1.91% and a return on equity of 9.40%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.38) EPS. As a group, sell-side analysts predict that Southwest Airlines Co. will post 1.49 earnings per share for the current fiscal year.

Southwest Airlines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.45%. The ex-dividend date was Tuesday, March 5th. Southwest Airlines’s payout ratio is 96.00%.

Southwest Airlines Profile

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; 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.