Southwest Airlines Company (LUV) Holdings Maintained by Berkshire Hathaway Inc.
Berkshire Hathaway Inc. maintained its stake in shares of Southwest Airlines Company (NYSE:LUV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,659,456 shares of the airline’s stock at the close of the second quarter. Southwest Airlines makes up 1.8% of Berkshire Hathaway Inc.’s holdings, making the stock its 11th biggest position. Berkshire Hathaway Inc. owned about 7.96% of Southwest Airlines worth $2,961,559,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Southwest Airlines by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 38,498,787 shares of the airline’s stock valued at $2,069,695,000 after buying an additional 286,456 shares during the period. BlackRock Inc. boosted its stake in shares of Southwest Airlines by 4,163.3% in the 1st quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock valued at $1,880,703,000 after buying an additional 34,162,752 shares during the period. State Street Corp boosted its stake in shares of Southwest Airlines by 1.5% in the 1st quarter. State Street Corp now owns 23,480,558 shares of the airline’s stock valued at $1,262,308,000 after buying an additional 353,960 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Southwest Airlines by 13.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock valued at $549,016,000 after buying an additional 1,026,892 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Southwest Airlines by 6.2% in the 1st quarter. Geode Capital Management LLC now owns 5,674,040 shares of the airline’s stock valued at $304,649,000 after buying an additional 332,285 shares during the period. Institutional investors and hedge funds own 79.42% of the company’s stock.
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Several equities research analysts recently weighed in on LUV shares. Argus upgraded Southwest Airlines from a “hold” rating to a “buy” rating and boosted their target price for the stock from $61.76 to $68.00 in a research note on Thursday, June 22nd. BidaskClub upgraded Southwest Airlines from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Tuesday, July 4th. Bank of America Corporation boosted their target price on Southwest Airlines from $62.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Finally, Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 target price for the company in a research note on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $66.95.
In other news, Director William H. Dr Cunningham bought 4,500 shares of Southwest Airlines stock in a transaction on Friday, August 11th. The shares were bought at an average price of $54.00 per share, with a total value of $243,000.00. Following the acquisition, the director now directly owns 66,969 shares in the company, valued at approximately $3,616,326. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.
Shares of Southwest Airlines Company (NYSE:LUV) traded up 0.26% during midday trading on Friday, reaching $58.44. The company’s stock had a trading volume of 3,984,212 shares. Southwest Airlines Company has a 1-year low of $36.91 and a 1-year high of $64.39. The firm has a market capitalization of $34.98 billion, a PE ratio of 17.92 and a beta of 1.32. The company’s 50-day moving average price is $54.10 and its 200 day moving average price is $56.92.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter last year, the business posted $1.19 EPS. Southwest Airlines’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts forecast that Southwest Airlines Company will post $3.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio is presently 15.34%.
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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