Hallmark Capital Management Inc. lessened its position in shares of Southwest Airlines Co (NYSE:LUV) by 8.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,995 shares of the airline’s stock after selling 460 shares during the period. Hallmark Capital Management Inc.’s holdings in Southwest Airlines were worth $254,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AJO LP boosted its stake in Southwest Airlines by 9,537.6% in the first quarter. AJO LP now owns 1,518,979 shares of the airline’s stock valued at $78,850,000 after acquiring an additional 1,503,218 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Southwest Airlines by 37.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,920,617 shares of the airline’s stock valued at $228,736,000 after acquiring an additional 1,348,168 shares during the last quarter. Boston Partners boosted its stake in Southwest Airlines by 13.9% in the first quarter. Boston Partners now owns 9,998,417 shares of the airline’s stock valued at $519,018,000 after acquiring an additional 1,219,028 shares during the last quarter. State of Tennessee Treasury Department boosted its stake in Southwest Airlines by 629.5% in the first quarter. State of Tennessee Treasury Department now owns 1,290,943 shares of the airline’s stock valued at $67,013,000 after acquiring an additional 1,113,980 shares during the last quarter. Finally, Provident Trust Co. boosted its stake in Southwest Airlines by 31.6% in the first quarter. Provident Trust Co. now owns 3,719,195 shares of the airline’s stock valued at $193,063,000 after acquiring an additional 892,013 shares during the last quarter. 82.64% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on LUV. Morgan Stanley dropped their price target on shares of Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Zacks Investment Research cut shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Thursday, May 16th. Wolfe Research upgraded shares of Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Friday, August 16th. Cowen restated a “market perform” rating and set a $57.00 price target (up from $55.00) on shares of Southwest Airlines in a research note on Friday, July 26th. Finally, Argus cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.15.
Shares of Southwest Airlines stock traded up $1.07 during trading on Thursday, reaching $52.23. The company’s stock had a trading volume of 91,694 shares, compared to its average volume of 3,417,547. Southwest Airlines Co has a 52-week low of $44.28 and a 52-week high of $64.02. The company has a market cap of $27.91 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.12 and a beta of 1.50. The firm’s 50-day moving average is $51.40 and its two-hundred day moving average is $52.07. 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 (NYSE:LUV) last announced its quarterly earnings data 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. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Southwest Airlines Co will post 4.26 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.38%. Southwest Airlines’s dividend payout ratio (DPR) is 16.98%.
About Southwest Airlines
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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