Stratos Wealth Partners LTD. reduced its holdings in Southwest Airlines Co (NYSE:LUV) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,696 shares of the airline’s stock after selling 2,535 shares during the period. Stratos Wealth Partners LTD.’s holdings in Southwest Airlines were worth $3,358,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Paragon Capital Management LLC purchased a new stake in shares of Southwest Airlines in the 1st quarter valued at $26,000. Shine Investment Advisory Services Inc. boosted its holdings in shares of Southwest Airlines by 208.0% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 616 shares of the airline’s stock valued at $32,000 after acquiring an additional 416 shares during the last quarter. Destination Wealth Management boosted its holdings in shares of Southwest Airlines by 107.9% in the 1st quarter. Destination Wealth Management now owns 634 shares of the airline’s stock valued at $33,000 after acquiring an additional 329 shares during the last quarter. Field & Main Bank purchased a new stake in Southwest Airlines during the first quarter worth $35,000. Finally, Somerset Trust Co boosted its holdings in Southwest Airlines by 185.5% during the first quarter. Somerset Trust Co now owns 688 shares of the airline’s stock worth $36,000 after buying an additional 447 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.
NYSE:LUV traded up $0.22 during trading hours on Friday, reaching $52.81. 48,298 shares of the company were exchanged, compared to its average volume of 3,291,151. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.57 and a current ratio of 0.63. The stock has a market capitalization of $28.24 billion, a PE ratio of 12.43, a P/E/G ratio of 1.31 and a beta of 1.49. Southwest Airlines Co has a twelve month low of $44.28 and a twelve month high of $64.02.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, June 4th. This is a boost from Southwest Airlines’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. Southwest Airlines’s dividend payout ratio is currently 15.09%.
LUV has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Wednesday, January 23rd. Imperial Capital reissued an “in-line” rating and set a $60.00 price target (up from $52.00) on shares of Southwest Airlines in a report on Friday, January 25th. Cowen reissued a “market perform” rating and set a $58.00 price target (up from $54.00) on shares of Southwest Airlines in a report on Friday, January 25th. Macquarie set a $65.00 price target on shares of Southwest Airlines and gave the stock a “buy” rating in a report on Tuesday, January 29th. Finally, Vertical Research initiated coverage on shares of Southwest Airlines in a report on Monday, February 4th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Southwest Airlines presently has an average rating of “Hold” and an average price target of $58.64.
Southwest Airlines 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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