Jennison Associates LLC purchased a new stake in Southwest Airlines Co (NYSE:LUV) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 40,247 shares of the airline’s stock, valued at approximately $2,089,000.
Several other institutional investors and hedge funds also recently bought and sold shares of LUV. Paragon Capital Management LLC acquired a new stake in Southwest Airlines during the 1st quarter worth approximately $26,000. Shine Investment Advisory Services Inc. raised its holdings in Southwest Airlines by 208.0% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 616 shares of the airline’s stock worth $32,000 after purchasing an additional 416 shares during the last quarter. Acadian Asset Management LLC bought a new position in Southwest Airlines during the 4th quarter worth approximately $33,000. Destination Wealth Management raised its holdings in Southwest Airlines by 107.9% during the 1st quarter. Destination Wealth Management now owns 634 shares of the airline’s stock worth $33,000 after purchasing an additional 329 shares during the last quarter. Finally, Field & Main Bank bought a new position in Southwest Airlines during the 1st quarter worth approximately $35,000. Institutional investors own 83.64% of the company’s stock.
Several research analysts have issued reports on the stock. Goldman Sachs Group lowered shares of Southwest Airlines from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $66.00 to $54.00 in a report on Wednesday, February 20th. Imperial Capital restated an “in-line” rating and set a $58.00 price target (down previously from $60.00) on shares of Southwest Airlines in a report on Thursday, February 21st. Macquarie lowered shares of Southwest Airlines from an “outperform” rating to a “neutral” rating in a report on Friday, February 22nd. Credit Suisse Group restated a “hold” rating and set a $56.00 price target (down previously from $60.00) on shares of Southwest Airlines in a report on Thursday, February 21st. Finally, Argus restated a “buy” rating on shares of Southwest Airlines in a report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $58.15.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, April 25th. The airline reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.14 billion. Southwest Airlines had a net margin of 10.78% and a return on equity of 23.94%. Southwest Airlines’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS. On average, analysts anticipate that Southwest Airlines Co will post 4.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.72 annualized dividend and a dividend yield of 1.42%. This is a positive change from Southwest Airlines’s previous quarterly dividend of $0.16. Southwest Airlines’s payout ratio is currently 16.98%.
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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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