Jennison Associates LLC Purchases New Position in Southwest Airlines Co (NYSE:LUV)

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.



Shares of NYSE:LUV traded up $0.26 during mid-day trading on Wednesday, hitting $50.84. The company had a trading volume of 48,692 shares, compared to its average volume of 4,667,669. The firm has a market capitalization of $27.32 billion, a P/E ratio of 11.99, a P/E/G ratio of 1.15 and a beta of 1.50. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 0.28. Southwest Airlines Co has a one year low of $44.28 and a one year high of $64.02.

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%.

COPYRIGHT VIOLATION NOTICE: “Jennison Associates LLC Purchases New Position in Southwest Airlines Co (NYSE:LUV)” was originally published by Dakota Financial News and is the sole property of of Dakota Financial News. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://dakotafinancialnews.com/2019/06/12/jennison-associates-llc-purchases-new-position-in-southwest-airlines-co-nyseluv.html.

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.

Featured Story: What is the price-sales ratio?

Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Co (NYSE:LUV).

Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

Receive News & Ratings for Southwest Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines and related companies with MarketBeat.com's FREE daily email newsletter.