US Bancorp DE decreased its stake in shares of Southwest Airlines Co (NYSE:LUV) by 1.1% during the 1st quarter, Holdings Channel reports. The firm owned 229,733 shares of the airline’s stock after selling 2,571 shares during the quarter. US Bancorp DE’s holdings in Southwest Airlines were worth $11,924,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of LUV. Oregon Public Employees Retirement Fund lifted its position in shares of Southwest Airlines by 3,711.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,546,074 shares of the airline’s stock worth $162,000 after purchasing an additional 7,348,070 shares during the last quarter. BlackRock Inc. lifted its position in shares of Southwest Airlines by 8.5% during the fourth quarter. BlackRock Inc. now owns 28,978,210 shares of the airline’s stock worth $1,346,907,000 after purchasing an additional 2,282,027 shares during the last quarter. Norges Bank bought a new position in shares of Southwest Airlines during the fourth quarter worth about $105,239,000. Millennium Management LLC lifted its position in shares of Southwest Airlines by 88.1% during the fourth quarter. Millennium Management LLC now owns 4,592,257 shares of the airline’s stock worth $213,448,000 after purchasing an additional 2,151,057 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Southwest Airlines by 37.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,920,617 shares of the airline’s stock worth $228,736,000 after purchasing an additional 1,348,168 shares during the last quarter. 79.49% of the stock is currently owned by institutional investors and hedge funds.
LUV has been the topic of several research analyst reports. Macquarie cut shares of Southwest Airlines from an “outperform” rating to a “neutral” rating in a research report on Friday, February 22nd. Goldman Sachs Group increased their price target on shares of Southwest Airlines to $49.00 and gave the stock a “sell” rating in a research report on Wednesday, March 20th. Imperial Capital reaffirmed an “in-line” rating and set a $58.00 price target (down previously from $60.00) on shares of Southwest Airlines in a research report on Thursday, February 21st. ValuEngine lowered shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Finally, Cowen reiterated a “market perform” rating and set a $58.00 price objective (up previously from $54.00) on shares of Southwest Airlines in a research note on Friday, January 25th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $58.64.
LUV traded up $0.19 on Friday, hitting $51.15. 2,311,899 shares of the company’s stock were exchanged, compared to its average volume of 4,769,132. The firm has a market cap of $27.78 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.21 and a beta of 1.49. Southwest Airlines Co has a twelve month low of $44.28 and a twelve month high of $64.02. 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 (NYSE:LUV) last posted its quarterly earnings data on Thursday, April 25th. The airline reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.09. Southwest Airlines had a net margin of 10.78% and a return on equity of 23.94%. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the business earned $0.79 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts anticipate that Southwest Airlines Co will post 4.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, June 4th. This is a positive change from Southwest Airlines’s previous quarterly dividend of $0.16. Southwest Airlines’s dividend payout ratio (DPR) is currently 15.09%.
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Southwest Airlines 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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