CIBC Asset Management Inc Acquires 7,119 Shares of Southwest Airlines Co. (NYSE:LUV)

CIBC Asset Management Inc grew its holdings in Southwest Airlines Co. (NYSE:LUV – Get Rating) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,284 shares of the airline’s stock after purchasing an additional 7,119 shares during the period. CIBC Asset Management Inc’s holdings in Southwest Airlines were worth $3,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Southwest Airlines by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 63,028,745 shares of the airline’s stock worth $2,886,717,000 after purchasing an additional 1,213,767 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Southwest Airlines by 17.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 33,378,877 shares of the airline’s stock worth $1,205,645,000 after purchasing an additional 4,992,817 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Southwest Airlines by 2.2% in the 1st quarter. Northern Trust Corp now owns 4,854,746 shares of the airline’s stock worth $222,347,000 after purchasing an additional 104,191 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Southwest Airlines by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,861,289 shares of the airline’s stock worth $131,047,000 after purchasing an additional 84,212 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Southwest Airlines by 382.1% in the 2nd quarter. Prudential Financial Inc. now owns 2,729,729 shares of the airline’s stock worth $98,599,000 after purchasing an additional 2,163,492 shares in the last quarter. Institutional investors own 74.71% of the company’s stock.

Insider Activity

In other news, Director John T. Montford sold 2,250 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $38.87, for a total value of $87,457.50. Following the transaction, the director now directly owns 21,046 shares in the company, valued at $818,058.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on LUV. Susquehanna Bancshares cut their price objective on Southwest Airlines from $45.00 to $40.00 in a report on Tuesday, October 11th. StockNews.com lowered Southwest Airlines from a “buy” rating to a “hold” rating in a report on Thursday, January 12th. Bank of America cut their price objective on Southwest Airlines from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, October 6th. Deutsche Bank Aktiengesellschaft cut their price objective on Southwest Airlines from $62.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, January 10th. Finally, Barclays cut their price objective on Southwest Airlines from $48.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, January 11th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Southwest Airlines presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.50.

Southwest Airlines Price Performance

NYSE LUV opened at $36.68 on Wednesday. The company has a market capitalization of $21.78 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 1.96 and a beta of 1.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.50 and a current ratio of 1.58. The business’s fifty day moving average is $36.86 and its 200 day moving average is $36.65. Southwest Airlines Co. has a fifty-two week low of $30.20 and a fifty-two week high of $50.10.

Southwest Airlines (NYSE:LUV – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The airline reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. Southwest Airlines had a return on equity of 9.66% and a net margin of 3.64%. The business had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same period in the previous year, the business earned ($0.23) earnings per share. The business’s revenue was up 32.5% on a year-over-year basis. Sell-side analysts predict that Southwest Airlines Co. will post 1.45 earnings per share for the current year.

Southwest Airlines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Tuesday, January 10th will be given a $0.18 dividend. The ex-dividend date is Monday, January 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.96%. Southwest Airlines’s payout ratio is 56.25%.

About Southwest Airlines

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Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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.