Southwest Airlines Co (NYSE:LUV) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in Southwest Airlines Co (NYSE:LUV) by 74.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,799 shares of the airline’s stock after selling 201,072 shares during the period. Victory Capital Management Inc.’s holdings in Southwest Airlines were worth $3,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its position in Southwest Airlines by 2.5% during the 2nd quarter. Bank of Montreal Can now owns 6,292,464 shares of the airline’s stock worth $319,532,000 after purchasing an additional 154,845 shares during the period. AQR Capital Management LLC grew its position in Southwest Airlines by 50.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,547,705 shares of the airline’s stock worth $281,712,000 after purchasing an additional 1,865,500 shares during the period. Northern Trust Corp grew its position in Southwest Airlines by 3.9% during the 1st quarter. Northern Trust Corp now owns 5,507,833 shares of the airline’s stock worth $285,912,000 after purchasing an additional 204,758 shares during the period. American Century Companies Inc. grew its position in Southwest Airlines by 12.9% during the 1st quarter. American Century Companies Inc. now owns 4,830,964 shares of the airline’s stock worth $250,775,000 after purchasing an additional 551,220 shares during the period. Finally, Provident Trust Co. grew its position in Southwest Airlines by 5.5% during the 2nd quarter. Provident Trust Co. now owns 3,924,630 shares of the airline’s stock worth $199,293,000 after purchasing an additional 205,435 shares during the period. 82.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LUV stock traded up $0.18 during mid-day trading on Thursday, hitting $52.22. 187,312 shares of the stock were exchanged, compared to its average volume of 3,784,782. The firm has a fifty day moving average of $52.67 and a 200 day moving average of $51.93. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 0.37. Southwest Airlines Co has a 52-week low of $44.28 and a 52-week high of $62.00. The company has a market cap of $28.02 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.27 and a beta of 1.48.

Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.02. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period in the prior year, the company posted $1.26 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts predict that Southwest Airlines Co will post 4.25 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Tuesday, August 20th. Southwest Airlines’s payout ratio is currently 16.98%.

Several brokerages have weighed in on LUV. Cowen reaffirmed a “market perform” rating and set a $57.00 price target (up from $55.00) on shares of Southwest Airlines in a research report on Friday, July 26th. Argus downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Wolfe Research raised Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Friday, August 16th. Macquarie raised Southwest Airlines from a “neutral” rating to an “outperform” rating and set a $67.00 price target on the stock in a research report on Friday, September 13th. Finally, Berenberg Bank began coverage on Southwest Airlines in a research report on Friday, September 6th. They set a “hold” rating and a $57.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.77.

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

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