Daiwa SB Investments Ltd. lifted its position in shares of Southwest Airlines Co (NYSE:LUV) by 12.4% in the fourth quarter, Holdings Channel reports. The fund owned 3,350 shares of the airline’s stock after buying an additional 370 shares during the period. Daiwa SB Investments Ltd.’s holdings in Southwest Airlines were worth $156,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC grew its stake in shares of Southwest Airlines by 110.8% during the third quarter. TIAA CREF Investment Management LLC now owns 3,496,061 shares of the airline’s stock worth $218,329,000 after purchasing an additional 1,837,517 shares during the period. Impala Asset Management LLC grew its stake in shares of Southwest Airlines by 5,662.8% during the third quarter. Impala Asset Management LLC now owns 1,710,796 shares of the airline’s stock worth $106,839,000 after purchasing an additional 1,681,109 shares during the period. FMR LLC grew its stake in Southwest Airlines by 11.8% in the third quarter. FMR LLC now owns 12,725,686 shares of the airline’s stock valued at $794,719,000 after acquiring an additional 1,343,228 shares during the period. Advisors Asset Management Inc. grew its stake in Southwest Airlines by 4,607.4% in the second quarter. Advisors Asset Management Inc. now owns 515,558 shares of the airline’s stock valued at $540,000 after acquiring an additional 504,606 shares during the period. Finally, First Trust Advisors LP grew its stake in Southwest Airlines by 40.4% in the third quarter. First Trust Advisors LP now owns 1,257,418 shares of the airline’s stock valued at $78,526,000 after acquiring an additional 361,607 shares during the period. Institutional investors own 79.43% of the company’s stock.
NYSE:LUV opened at $50.59 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.65 and a current ratio of 0.71. The company has a market capitalization of $27.90 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.05 and a beta of 1.31. Southwest Airlines Co has a 12-month low of $44.28 and a 12-month high of $66.28.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 5th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, December 4th. This represents a $0.64 annualized dividend and a yield of 1.27%. Southwest Airlines’s dividend payout ratio is 18.29%.
A number of research analysts have issued reports on the company. Imperial Capital reissued an “in-line” rating and issued a $62.00 target price (up from $56.00) on shares of Southwest Airlines in a research note on Tuesday, December 4th. Zacks Investment Research cut Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Cowen cut Southwest Airlines from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $65.00 to $54.00 in a research note on Thursday, January 10th. Wolfe Research raised Southwest Airlines from a “market perform” rating to an “outperform” rating in a research note on Friday, December 7th. Finally, Macquarie set a $67.00 target price on Southwest Airlines and gave the company a “buy” rating in a research note on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $61.56.
In other Southwest Airlines news, Director John T. Montford sold 956 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $52.35, for a total value of $50,046.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John T. Montford sold 980 shares of the company’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $51.27, for a total value of $50,244.60. Following the completion of the sale, the director now owns 20,983 shares in the company, valued at approximately $1,075,798.41. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.
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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, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 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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