Anchor Bolt Capital LP cut its stake in shares of Southwest Airlines Company (NYSE:LUV) by 72.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 418,203 shares of the airline’s stock after selling 1,098,741 shares during the period. Anchor Bolt Capital LP owned about 0.07% of Southwest Airlines worth $23,411,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its position in Southwest Airlines by 13.1% during the second quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock valued at $549,016,000 after purchasing an additional 1,026,892 shares in the last quarter. Boston Partners grew its position in Southwest Airlines by 101.7% during the third quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock valued at $278,822,000 after purchasing an additional 2,511,258 shares in the last quarter. APG Asset Management N.V. grew its position in Southwest Airlines by 16.8% during the third quarter. APG Asset Management N.V. now owns 4,592,536 shares of the airline’s stock valued at $257,090,000 after purchasing an additional 660,500 shares in the last quarter. Thrivent Financial For Lutherans grew its position in Southwest Airlines by 35.6% during the second quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock valued at $257,901,000 after purchasing an additional 1,090,189 shares in the last quarter. Finally, Rockefeller Financial Services Inc. grew its position in Southwest Airlines by 4.0% during the third quarter. Rockefeller Financial Services Inc. now owns 3,193,405 shares of the airline’s stock valued at $178,766,000 after purchasing an additional 121,447 shares in the last quarter. 78.87% of the stock is currently owned by hedge funds and other institutional investors.
LUV has been the subject of several recent research reports. Morgan Stanley set a $64.00 target price on shares of Southwest Airlines and gave the stock a “buy” rating in a research report on Thursday, August 17th. Wolfe Research raised shares of Southwest Airlines from a “market perform” rating to an “outperform” rating in a research report on Friday, August 18th. Cowen reissued a “buy” rating and issued a $67.00 target price on shares of Southwest Airlines in a research report on Friday, September 1st. Citigroup reissued a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of Southwest Airlines in a research report on Thursday, September 7th. Finally, Barclays reissued a “hold” rating and issued a $61.00 target price on shares of Southwest Airlines in a research report on Thursday, September 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. Southwest Airlines presently has a consensus rating of “Buy” and a consensus price target of $66.89.
Shares of Southwest Airlines Company (LUV) traded down $0.48 during trading on Thursday, hitting $61.12. 2,886,600 shares of the stock were exchanged, compared to its average volume of 5,236,180. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.61 and a quick ratio of 0.55. Southwest Airlines Company has a twelve month low of $47.40 and a twelve month high of $64.39. The firm has a market capitalization of $36,623.88, a PE ratio of 17.79, a price-to-earnings-growth ratio of 2.05 and a beta of 1.34.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The business had revenue of $5.27 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the previous year, the company earned $0.93 earnings per share. Southwest Airlines’s revenue for the quarter was up 2.6% on a year-over-year basis. equities research analysts anticipate that Southwest Airlines Company will post 3.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Wednesday, December 6th. Southwest Airlines’s payout ratio is 14.37%.
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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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