Checchi Capital Advisers LLC Has $374,000 Position in Southwest Airlines Company (LUV)
Checchi Capital Advisers LLC decreased its position in shares of Southwest Airlines Company (NYSE:LUV) by 9.7% during the second quarter, Holdings Channel reports. The firm owned 6,012 shares of the airline’s stock after selling 644 shares during the period. Checchi Capital Advisers LLC’s holdings in Southwest Airlines were worth $374,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Systems of Alabama boosted its position in Southwest Airlines by 0.9% in the first quarter. Retirement Systems of Alabama now owns 617,404 shares of the airline’s stock worth $33,192,000 after buying an additional 5,626 shares during the period. State of Alaska Department of Revenue purchased a new position in Southwest Airlines during the first quarter worth $1,113,000. Rothschild Investment Corp IL boosted its position in Southwest Airlines by 3.8% in the first quarter. Rothschild Investment Corp IL now owns 4,524 shares of the airline’s stock worth $243,000 after buying an additional 167 shares during the period. Huntington National Bank boosted its position in Southwest Airlines by 53.7% in the first quarter. Huntington National Bank now owns 6,847 shares of the airline’s stock worth $368,000 after buying an additional 2,392 shares during the period. Finally, Moody National Bank Trust Division purchased a new position in Southwest Airlines during the first quarter worth $466,000. Institutional investors and hedge funds own 80.58% of the company’s stock.
Southwest Airlines Company (NYSE:LUV) opened at 55.20 on Wednesday. The company has a market capitalization of $33.04 billion, a PE ratio of 16.93 and a beta of 1.26. Southwest Airlines Company has a one year low of $36.05 and a one year high of $64.39. The firm’s 50-day moving average is $59.17 and its 200 day moving average is $57.31.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. Southwest Airlines’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. On average, equities analysts expect that Southwest Airlines Company will post $3.80 EPS for the current fiscal year.
Southwest Airlines declared that its Board of Directors has approved a share buyback program on Wednesday, May 17th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the airline to purchase up to 5.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.91%. The ex-dividend date is Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio is currently 15.34%.
A number of research analysts have weighed in on the stock. Wolfe Research cut shares of Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $63.00 price objective on the stock. in a research report on Monday, July 10th. They noted that the move was a valuation call. Morgan Stanley reiterated an “overweight” rating and set a $66.00 price objective (up previously from $65.00) on shares of Southwest Airlines in a research report on Monday, July 10th. BidaskClub cut shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Tuesday, July 4th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $70.00 price target on shares of Southwest Airlines in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Southwest Airlines has an average rating of “Buy” and a consensus target price of $65.78.
In other news, EVP Jeff Lamb sold 19,800 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $61.00, for a total transaction of $1,207,800.00. Following the completion of the transaction, the executive vice president now directly owns 92,468 shares of the company’s stock, valued at $5,640,548. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Tammy Romo sold 8,322 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $59.15, for a total value of $492,246.30. Following the transaction, the chief financial officer now directly owns 87,387 shares of the company’s stock, valued at $5,168,941.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,740 shares of company stock valued at $4,013,508. 0.21% of the stock is currently owned by corporate insiders.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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