DekaBank Deutsche Girozentrale Lowers Stake in Southwest Airlines Company (NYSE:LUV)
DekaBank Deutsche Girozentrale reduced its stake in Southwest Airlines Company (NYSE:LUV) by 9.3% during the second quarter, Holdings Channel reports. The firm owned 120,747 shares of the airline’s stock after selling 12,318 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Southwest Airlines were worth $7,525,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Gulf International Bank UK Ltd increased its position in Southwest Airlines by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 50,407 shares of the airline’s stock valued at $2,709,000 after buying an additional 680 shares during the period. First Command Financial Services Inc. increased its position in Southwest Airlines by 0.7% in the first quarter. First Command Financial Services Inc. now owns 7,485 shares of the airline’s stock valued at $403,000 after buying an additional 50 shares during the period. Skylands Capital LLC increased its position in Southwest Airlines by 1.5% in the first quarter. Skylands Capital LLC now owns 87,200 shares of the airline’s stock valued at $4,688,000 after buying an additional 1,300 shares during the period. Tompkins Financial Corp acquired a new position in Southwest Airlines during the first quarter valued at approximately $367,000. Finally, Americafirst Capital Management LLC acquired a new position in Southwest Airlines during the first quarter valued at approximately $212,000. Institutional investors and hedge funds own 80.58% of the company’s stock.
Shares of Southwest Airlines Company (LUV) opened at 54.72 on Tuesday. The stock has a market capitalization of $32.75 billion, a PE ratio of 16.78 and a beta of 1.26. The company has a 50-day moving average of $59.36 and a 200-day moving average of $57.29. Southwest Airlines Company has a 12 month low of $36.05 and a 12 month high of $64.39.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.04. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.73 billion. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $1.19 EPS. On average, equities research analysts expect that Southwest Airlines Company will post $3.80 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio is currently 15.34%.
Southwest Airlines declared that its Board of Directors has authorized a stock 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 generally an indication that the company’s board of directors believes its shares are undervalued.
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Several equities analysts have commented on LUV shares. Imperial Capital boosted their price target on shares of Southwest Airlines from $63.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Cowen and Company boosted their price target on shares of Southwest Airlines from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Deutsche Bank AG boosted their price target on shares of Southwest Airlines from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Scotiabank restated a “sector perform” rating on shares of Southwest Airlines in a research note on Thursday, May 4th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $80.00 price target on shares of Southwest Airlines in a research note on Friday, May 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Southwest Airlines presently has a consensus rating of “Buy” and an average target price of $65.78.
In other Southwest Airlines news, Chairman Gary C. Kelly sold 51,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $57.06, for a total transaction of $2,910,060.00. Following the completion of the transaction, the chairman now directly owns 556,808 shares of the company’s stock, valued at approximately $31,771,464.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Tammy Romo sold 8,322 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $59.15, for a total transaction 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 three months, insiders have sold 118,740 shares of company stock valued at $6,923,568. 0.21% of the stock is owned by company insiders.
Southwest Airlines Company Profile
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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