JFS Wealth Advisors LLC trimmed its holdings in Southwest Airlines Co. (NYSE:LUV – Free Report) by 46.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,063 shares of the airline’s stock after selling 935 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Southwest Airlines were worth $36,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. CWC Advisors LLC. grew its holdings in Southwest Airlines by 2.4% during the 4th quarter. CWC Advisors LLC. now owns 13,310 shares of the airline’s stock worth $447,000 after acquiring an additional 311 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Southwest Airlines by 22.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,161 shares of the airline’s stock worth $73,000 after acquiring an additional 391 shares during the last quarter. Independent Advisor Alliance grew its holdings in Southwest Airlines by 3.4% during the 4th quarter. Independent Advisor Alliance now owns 12,853 shares of the airline’s stock worth $432,000 after acquiring an additional 422 shares during the last quarter. Parallel Advisors LLC lifted its position in Southwest Airlines by 5.9% during the 1st quarter. Parallel Advisors LLC now owns 8,101 shares of the airline’s stock valued at $272,000 after purchasing an additional 448 shares during the period. Finally, Utah Retirement Systems lifted its position in Southwest Airlines by 1.6% during the 4th quarter. Utah Retirement Systems now owns 32,200 shares of the airline’s stock valued at $1,083,000 after purchasing an additional 500 shares during the period. 80.82% of the stock is owned by institutional investors.
Southwest Airlines Stock Performance
Shares of LUV stock opened at $31.85 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 0.77. The company has a market capitalization of $18.15 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 4.53 and a beta of 1.23. The company’s 50 day moving average price is $30.52 and its two-hundred day moving average price is $31.10. Southwest Airlines Co. has a 52 week low of $23.58 and a 52 week high of $36.12.
Southwest Airlines Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.72 annualized dividend and a dividend yield of 2.26%. Southwest Airlines’s dividend payout ratio is presently 84.71%.
Insider Activity at Southwest Airlines
In related news, Director Gregg A. Saretsky acquired 3,670 shares of Southwest Airlines stock in a transaction on Wednesday, April 30th. The stock was purchased at an average cost of $27.29 per share, with a total value of $100,154.30. Following the completion of the transaction, the director now directly owns 14,881 shares in the company, valued at $406,102.49. This trade represents a 32.74% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Hess acquired 7,500 shares of Southwest Airlines stock in a transaction on Monday, April 28th. The shares were bought at an average cost of $26.52 per share, with a total value of $198,900.00. Following the completion of the transaction, the director now owns 23,156 shares of the company’s stock, valued at approximately $614,097.12. This trade represents a 47.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.79% of the stock is owned by company insiders.
Analysts Set New Price Targets
LUV has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Thursday, May 29th. Citigroup cut their target price on shares of Southwest Airlines from $30.00 to $23.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Raymond James Financial restated an “outperform” rating and set a $40.00 target price (down from $42.00) on shares of Southwest Airlines in a research report on Tuesday, April 29th. Susquehanna cut their target price on shares of Southwest Airlines from $34.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Finally, UBS Group cut their target price on shares of Southwest Airlines from $36.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.88.
Read Our Latest Stock Analysis on Southwest Airlines
Southwest Airlines Profile
Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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