Oak Grove Capital LLC Has $950,000 Position in Southwest Airlines Co (LUV)
Oak Grove Capital LLC increased its stake in shares of Southwest Airlines Co (NYSE:LUV) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,300 shares of the airline’s stock after buying an additional 800 shares during the quarter. Oak Grove Capital LLC’s holdings in Southwest Airlines were worth $950,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund lifted its holdings in shares of Southwest Airlines by 3,711.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,546,074 shares of the airline’s stock valued at $162,000 after purchasing an additional 7,348,070 shares in the last quarter. BlackRock Inc. grew its position in 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 buying an additional 2,282,027 shares in the last quarter. Norges Bank bought a new stake in Southwest Airlines during the fourth quarter worth $105,239,000. Millennium Management LLC lifted its stake in 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, AJO LP lifted its stake in shares of Southwest Airlines by 9,537.6% in the 1st quarter. AJO LP now owns 1,518,979 shares of the airline’s stock valued at $78,850,000 after acquiring an additional 1,503,218 shares during the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.
Several research analysts recently issued reports on LUV shares. Vertical Research started coverage on Southwest Airlines in a research report on Monday, February 4th. They set a “buy” rating for the company. Goldman Sachs Group downgraded Southwest Airlines from a “neutral” rating to a “sell” rating and cut their price target for the company from $66.00 to $54.00 in a research note on Wednesday, February 20th. Imperial Capital reiterated an “in-line” rating and set a $58.00 price target (down previously from $60.00) on shares of Southwest Airlines in a research note on Thursday, February 21st. Credit Suisse Group reiterated a “hold” rating and set a $56.00 price target (down previously from $60.00) on shares of Southwest Airlines in a research note on Thursday, February 21st. Finally, Macquarie cut shares of Southwest Airlines from an “outperform” rating to a “neutral” rating in a research report on Friday, February 22nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.64.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, April 25th. The airline reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Southwest Airlines had a net margin of 10.78% and a return on equity of 23.94%. Southwest Airlines’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. Research analysts predict that Southwest Airlines Co will post 4.59 earnings per share for the current year.
The firm 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 $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.50%. This is a positive change from Southwest Airlines’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, June 4th. Southwest Airlines’s payout ratio 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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