Stone Ridge Asset Management LLC bought a new position in shares of Southwest Airlines Co (NYSE:LUV) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 32,484 shares of the airline’s stock, valued at approximately $2,126,000.
Other large investors also recently modified their holdings of the company. BB&T Investment Services Inc. increased its position in shares of Southwest Airlines by 325.5% during the third quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock worth $110,000 after acquiring an additional 1,211 shares during the period. Cerebellum GP LLC purchased a new position in shares of Southwest Airlines during the fourth quarter worth approximately $127,000. Grove Bank & Trust increased its position in shares of Southwest Airlines by 365.0% during the third quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock worth $134,000 after acquiring an additional 1,880 shares during the period. SeaCrest Wealth Management LLC purchased a new position in shares of Southwest Airlines during the fourth quarter worth approximately $136,000. Finally, Delpha Capital Management LLC purchased a new position in shares of Southwest Airlines during the fourth quarter worth approximately $151,000. 80.05% of the stock is currently owned by institutional investors and hedge funds.
Southwest Airlines Co (NYSE LUV) opened at $60.33 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.45. Southwest Airlines Co has a 1-year low of $49.76 and a 1-year high of $66.99. The stock has a market cap of $35,135.95, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Tuesday, March 6th. Southwest Airlines’s dividend payout ratio is currently 8.59%.
In other Southwest Airlines news, EVP Robert E. Jordan sold 32,931 shares of Southwest Airlines stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $64.38, for a total value of $2,120,097.78. Following the transaction, the executive vice president now directly owns 76,993 shares of the company’s stock, valued at $4,956,809.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO De Ven Michael G. Van sold 31,099 shares of Southwest Airlines stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $57.35, for a total transaction of $1,783,527.65. Following the completion of the transaction, the chief operating officer now directly owns 172,883 shares in the company, valued at $9,914,840.05. The disclosure for this sale can be found here. Insiders sold 131,404 shares of company stock worth $7,815,689 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.
A number of equities analysts have recently commented on the stock. Bank of America lowered shares of Southwest Airlines from a “buy” rating to a “neutral” rating and set a $73.00 target price on the stock. in a research report on Tuesday, January 9th. Vetr raised shares of Southwest Airlines from a “strong sell” rating to a “sell” rating and set a $60.23 target price on the stock in a research report on Tuesday, December 26th. Atlantic Securities raised shares of Southwest Airlines from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $48.71 to $71.00 in a report on Thursday, December 14th. Zacks Investment Research lowered shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, ValuEngine lowered shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $67.83.
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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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