Pacer Advisors Inc. lowered its stake in Southwest Airlines Co (NYSE:LUV) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,508 shares of the airline’s stock after selling 2,024 shares during the quarter. Pacer Advisors Inc.’s holdings in Southwest Airlines were worth $7,805,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Global Wealth Management Investment Advisory Inc. lifted its stake in Southwest Airlines by 242.8% in the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 713 shares of the airline’s stock worth $36,000 after purchasing an additional 505 shares in the last quarter. American National Bank purchased a new stake in Southwest Airlines in the 3rd quarter worth $54,000. Doyle Wealth Management purchased a new stake in Southwest Airlines in the 2nd quarter worth $58,000. Westside Investment Management Inc. purchased a new stake in Southwest Airlines in the 2nd quarter worth $60,000. Finally, Clear Perspective Advisors LLC purchased a new stake in Southwest Airlines in the 2nd quarter worth $60,000. Institutional investors and hedge funds own 82.01% of the company’s stock.
A number of analysts have recently weighed in on the stock. Wolfe Research upgraded shares of Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Friday, August 16th. Zacks Investment Research upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $59.00 target price on the stock in a report on Monday, September 16th. Berenberg Bank assumed coverage on shares of Southwest Airlines in a report on Friday, September 6th. They issued a “hold” rating and a $57.00 target price on the stock. Bank of America upgraded shares of Southwest Airlines to a “buy” rating and set a $65.00 target price on the stock in a report on Monday, September 23rd. Finally, Morgan Stanley boosted their target price on shares of Southwest Airlines from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $57.95.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, July 25th. The airline reported $1.37 EPS for the quarter, beating the consensus estimate of $1.35 by $0.02. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.94 billion. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 EPS. As a group, research analysts predict that Southwest Airlines Co will post 4.27 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.72 annualized dividend and a yield of 1.32%. Southwest Airlines’s payout ratio is 16.98%.
Southwest Airlines Company Profile
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 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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