Insider Selling: Southwest Airlines EVP Unloads 45,511 Shares of Stock (LUV)
Southwest Airlines (NYSE:LUV) EVP Robert E. Jordan sold 45,511 shares of the company’s stock on the open market in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $31.41, for a total transaction of $1,429,500.51. Following the sale, the executive vice president now directly owns 167,575 shares of the company’s stock, valued at approximately $5,263,531. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
LUV has been the subject of a number of recent research reports. Analysts at Zacks reiterated an “outperform” rating on shares of Southwest Airlines in a research note on Friday, August 8th. They now have a $34.00 price target on the stock. Separately, analysts at Argus raised their price target on shares of Southwest Airlines from $28.00 to $34.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Southwest Airlines from $26.00 to $29.50 in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $31.71.
Shares of Southwest Airlines (NYSE:LUV) traded up 2.02% on Friday, hitting $31.87. The stock had a trading volume of 6,441,173 shares. Southwest Airlines has a 52 week low of $12.64 and a 52 week high of $32.12. The stock’s 50-day moving average is $28.68 and its 200-day moving average is $25.38. The company has a market cap of $21.835 billion and a P/E ratio of 20.19.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.10. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts predict that Southwest Airlines will post $1.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, August 19th.
Southwest Airlines Co operates Southwest Airlines and AirTran Airways, passenger airlines that provide scheduled air transportation in the United States and near-international markets.
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