Southwest Airlines Company (LUV) Director William H. Dr Cunningham Buys 4,500 Shares
Southwest Airlines Company (NYSE:LUV) Director William H. Dr Cunningham bought 4,500 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $54.00 per share, with a total value of $243,000.00. Following the completion of the acquisition, the director now owns 66,969 shares of the company’s stock, valued at approximately $3,616,326. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Southwest Airlines Company (NYSE:LUV) traded up 1.07% during trading on Monday, hitting $54.72. 4,657,826 shares of the company’s stock were exchanged. The stock has a market cap of $32.75 billion, a P/E ratio of 16.78 and a beta of 1.26. The firm has a 50-day moving average price of $59.36 and a 200-day moving average price of $57.29. Southwest Airlines Company has a one year low of $36.05 and a one year high of $64.39.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. Southwest Airlines’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts expect that Southwest Airlines Company will post $3.80 EPS for the current fiscal year.
Southwest Airlines declared that its Board of Directors has initiated a share 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 buy up to 5.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
The company 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 dividend on an annualized basis and a yield of 0.91%. Southwest Airlines’s payout ratio is 15.34%.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank raised its position in shares of Southwest Airlines by 53.7% in the first quarter. Huntington National Bank now owns 6,847 shares of the airline’s stock worth $368,000 after buying an additional 2,392 shares during the last quarter. Moody National Bank Trust Division bought a new position in shares of Southwest Airlines during the first quarter worth about $466,000. Deschutes Portfolio Strategy LLC bought a new position in shares of Southwest Airlines during the first quarter worth about $283,000. Nisa Investment Advisors LLC raised its position in shares of Southwest Airlines by 5.3% in the first quarter. Nisa Investment Advisors LLC now owns 272,607 shares of the airline’s stock worth $14,654,000 after buying an additional 13,603 shares during the last quarter. Finally, Boston Advisors LLC bought a new position in shares of Southwest Airlines during the first quarter worth about $2,454,000. Institutional investors and hedge funds own 80.58% of the company’s stock.
A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub lowered shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Sanford C. Bernstein restated an “outperform” rating and issued a $70.00 price objective on shares of Southwest Airlines in a report on Thursday, July 13th. Cowen and Company restated a “buy” rating and issued a $67.00 price objective on shares of Southwest Airlines in a report on Friday, July 28th. Finally, Vetr upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $62.02 price objective for the company in a report on Monday, May 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $65.78.
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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