Clark Estates Inc. NY held its position in shares of Southwest Airlines Company (NYSE:LUV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,000 shares of the airline’s stock at the end of the second quarter. Southwest Airlines makes up 0.8% of Clark Estates Inc. NY’s holdings, making the stock its 22nd largest position. Clark Estates Inc. NY’s holdings in Southwest Airlines were worth $4,785,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Foundry Partners LLC purchased a new position in shares of Southwest Airlines during the second quarter worth $207,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Southwest Airlines by 15.2% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,570 shares of the airline’s stock worth $470,000 after buying an additional 1,000 shares in the last quarter. Segantii Capital Management Ltd purchased a new position in shares of Southwest Airlines during the second quarter worth $5,903,000. Boston Partners purchased a new position in shares of Southwest Airlines during the second quarter worth $153,454,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Southwest Airlines by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,901,955 shares of the airline’s stock worth $118,188,000 after buying an additional 62,030 shares in the last quarter. 80.34% of the stock is owned by institutional investors and hedge funds.
Southwest Airlines Company (LUV) opened at 54.01 on Friday. The firm has a market capitalization of $32.33 billion, a PE ratio of 16.56 and a beta of 1.26. Southwest Airlines Company has a one year low of $36.05 and a one year high of $64.39. The stock’s 50 day moving average is $59.77 and its 200-day moving average is $57.15.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.04. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.73 billion. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. Southwest Airlines’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $1.19 EPS. On average, analysts anticipate that Southwest Airlines Company will post $3.80 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be paid a $0.125 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.50 annualized dividend and a dividend yield of 0.93%. Southwest Airlines’s payout ratio is 15.34%.
Southwest Airlines declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the airline to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
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A number of brokerages recently weighed in on LUV. Zacks Investment Research downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Sunday, July 30th. Cowen and Company reissued a “buy” rating and set a $67.00 target price on shares of Southwest Airlines in a research note on Friday, July 28th. Vetr raised shares of Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $64.53 target price for the company in a research note on Thursday, July 27th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $70.00 target price on shares of Southwest Airlines in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Southwest Airlines has a consensus rating of “Buy” and an average price target of $65.78.
In related news, Chairman Gary C. Kelly sold 51,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $57.06, for a total value of $2,910,060.00. Following the completion of the transaction, the chairman now directly owns 556,808 shares in the company, valued at approximately $31,771,464.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO De Ven Michael G. Van sold 15,273 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $57.14, for a total transaction of $872,699.22. Following the completion of the transaction, the chief operating officer now owns 182,302 shares of the company’s stock, valued at $10,416,736.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,740 shares of company stock valued at $6,923,568. 0.21% of the stock is owned by company insiders.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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