Sunbelt Securities Inc. lessened its stake in Southwest Airlines Co (NYSE:LUV) by 40.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,766 shares of the airline’s stock after selling 3,199 shares during the quarter. Sunbelt Securities Inc.’s holdings in Southwest Airlines were worth $242,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. lifted its stake in Southwest Airlines by 208.0% during the first 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. Destination Wealth Management lifted its stake in Southwest Airlines by 107.9% during the first 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. Field & Main Bank purchased a new stake in Southwest Airlines during the first quarter worth approximately $35,000. Financial Gravity Wealth Inc. purchased a new stake in Southwest Airlines during the first quarter worth approximately $39,000. Finally, NEXT Financial Group Inc lifted its stake in Southwest Airlines by 1,073.5% during the second quarter. NEXT Financial Group Inc now owns 1,197 shares of the airline’s stock worth $61,000 after purchasing an additional 1,095 shares during the last quarter. Institutional investors and hedge funds own 84.25% of the company’s stock.
LUV has been the subject of several recent analyst reports. Barclays decreased their target price on Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Cowen reiterated a “market perform” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Southwest Airlines in a research note on Friday, July 26th. Argus cut Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley reduced their price objective on Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Imperial Capital reiterated an “in-line” rating and issued a $55.00 price objective (up previously from $52.00) on shares of Southwest Airlines in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $57.16.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.02. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.94 billion. Southwest Airlines had a return on equity of 24.12% and a net margin of 10.73%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. On average, equities research analysts expect that Southwest Airlines Co will post 4.35 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, August 20th. Southwest Airlines’s dividend payout ratio is presently 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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