Keybank National Association OH reduced its stake in Southwest Airlines Company (NYSE:LUV) by 8.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,254 shares of the airline’s stock after selling 4,248 shares during the period. Keybank National Association OH’s holdings in Southwest Airlines were worth $2,999,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LUV. Columbus Circle Investors boosted its position in Southwest Airlines by 28.2% in the second quarter. Columbus Circle Investors now owns 220,903 shares of the airline’s stock valued at $13,727,000 after buying an additional 48,632 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in Southwest Airlines during the first quarter valued at $22,797,000. Wedbush Securities Inc. boosted its position in Southwest Airlines by 21.3% in the first quarter. Wedbush Securities Inc. now owns 13,146 shares of the airline’s stock valued at $707,000 after buying an additional 2,311 shares in the last quarter. Parallel Advisors LLC boosted its position in Southwest Airlines by 2.5% in the first quarter. Parallel Advisors LLC now owns 21,857 shares of the airline’s stock valued at $1,271,000 after buying an additional 524 shares in the last quarter. Finally, Peak Capital Management LLC acquired a new position in Southwest Airlines during the second quarter valued at $531,000. 79.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of Southwest Airlines Company (NYSE:LUV) opened at 52.14 on Friday. The company’s 50 day moving average price is $55.95 and its 200-day moving average price is $57.20. The company has a market capitalization of $31.21 billion, a price-to-earnings ratio of 15.99 and a beta of 1.26. Southwest Airlines Company has a 1-year low of $36.05 and a 1-year high of $64.39. Southwest Airlines also saw some unusual options trading on Tuesday. Stock traders acquired 8,439 put options on the stock. This represents an increase of 450% compared to the average volume of 1,533 put options.

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 Thomson Reuters’ consensus estimate of $1.20 by $0.04. The company had revenue of $5.74 billion for 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 quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 earnings per share. On average, equities analysts forecast that Southwest Airlines Company will post $3.81 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.50 annualized dividend and a yield of 0.96%. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.34%.

Southwest Airlines declared that its board has authorized a stock buyback plan on Wednesday, May 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the airline to repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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LUV has been the topic of several research reports. Cowen and Company restated a “buy” rating and issued a $67.00 target price on shares of Southwest Airlines in a research note on Friday, July 28th. BidaskClub lowered Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Sunday, July 30th. Morgan Stanley restated an “overweight” rating and issued a $66.00 target price (up from $65.00) on shares of Southwest Airlines in a research note on Monday, July 10th. Bank of America Corporation boosted their target price on Southwest Airlines from $62.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Finally, Vetr lowered Southwest Airlines from a “buy” rating to a “hold” rating and set a $63.80 target price on the stock. in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Southwest Airlines currently has a consensus rating of “Buy” and a consensus price target of $65.66.

In related news, Director William H. Dr Cunningham bought 4,500 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $54.00 per share, for a total transaction of $243,000.00. Following the completion of the transaction, the director now owns 66,969 shares of the company’s stock, valued at $3,616,326. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by 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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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