Investors Buy Southwest Airlines Co. (LUV) on Weakness
Investors purchased shares of Southwest Airlines Co. (NYSE:LUV) on weakness during trading hours on Friday. $88.30 million flowed into the stock on the tick-up and $42.82 million flowed out of the stock on the tick-down, for a money net flow of $45.48 million into the stock. Of all stocks tracked, Southwest Airlines had the 13th highest net in-flow for the day. Southwest Airlines traded down ($0.49) for the day and closed at $36.35
Several equities analysts have recently issued reports on LUV shares. Vetr upgraded shares of Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $50.91 price objective on the stock in a report on Friday, April 29th. Sterne Agee CRT restated a “buy” rating on shares of Southwest Airlines in a report on Monday, May 16th. Cowen and Company cut their price objective on shares of Southwest Airlines from $51.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday, June 24th. Deutsche Bank AG restated a “buy” rating and set a $57.00 price objective on shares of Southwest Airlines in a report on Saturday, June 25th. Finally, Credit Suisse Group AG restated an “outperform” rating on shares of Southwest Airlines in a report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. Southwest Airlines presently has a consensus rating of “Buy” and a consensus price target of $48.94.
The stock’s 50-day moving average price is $38.67 and its 200 day moving average price is $41.25. The firm has a market cap of $22.55 billion and a PE ratio of 9.64.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 21st. The airline reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by $0.02. During the same period last year, the firm posted $1.03 EPS. The company earned $5.38 billion during the quarter, compared to analysts’ expectations of $5.41 billion. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts expect that Southwest Airlines Co. will post $3.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, August 16th.
In other Southwest Airlines news, SVP Mark R. Shaw sold 1,776 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $37.62, for a total value of $66,813.12. Following the completion of the sale, the senior vice president now owns 5,226 shares in the company, valued at $196,602.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John T. Montford sold 1,210 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $43.31, for a total value of $52,405.10. Following the completion of the sale, the director now owns 27,155 shares of the company’s stock, valued at approximately $1,176,083.05. The disclosure for this sale can be found here.
Other large investors have recently modified their holdings of the company. Calvert Investment Management Inc. boosted its stake in shares of Southwest Airlines by 29.9% in the fourth quarter. Calvert Investment Management Inc. now owns 38,222 shares of the airline’s stock worth $1,646,000 after buying an additional 8,790 shares in the last quarter. KBC Group NV boosted its stake in shares of Southwest Airlines by 8.3% in the fourth quarter. KBC Group NV now owns 282,545 shares of the airline’s stock worth $12,167,000 after buying an additional 21,720 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in shares of Southwest Airlines by 87.1% in the fourth quarter. State of Tennessee Treasury Department now owns 1,240,247 shares of the airline’s stock worth $53,405,000 after buying an additional 577,482 shares in the last quarter. Suntrust Banks Inc. boosted its stake in shares of Southwest Airlines by 53.9% in the fourth quarter. Suntrust Banks Inc. now owns 37,164 shares of the airline’s stock worth $1,599,000 after buying an additional 13,015 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in shares of Southwest Airlines by 1.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 26,120 shares of the airline’s stock worth $1,125,000 after buying an additional 413 shares in the last quarter.
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
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