Southwest Airlines CEO Gary C. Kelly Unloads 60,600 Shares (LUV)
Southwest Airlines (NYSE:LUV) CEO Gary C. Kelly sold 60,600 shares of the company’s stock on the open market in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $31.22, for a total transaction of $1,891,932.00. Following the completion of the transaction, the chief executive officer now directly owns 694,274 shares in the company, valued at approximately $21,675,234. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Southwest Airlines (NYSE:LUV) traded up 2.02% during mid-day trading on Friday, hitting $31.87. 6,441,173 shares of the company’s stock traded hands. Southwest Airlines has a 1-year low of $12.64 and a 1-year 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 issued its quarterly earnings data on Thursday, July 24th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts expect that Southwest Airlines will post $1.78 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders 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.
A number of research firms have recently commented on LUV. 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 equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Southwest Airlines currently has an average rating of “Buy” and an average target price of $31.71.
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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