Financial Advisory Service Inc. Has $505,000 Position in Southwest Airlines Company (NYSE:LUV)
Financial Advisory Service Inc. increased its stake in shares of Southwest Airlines Company (NYSE:LUV) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,133 shares of the airline’s stock after buying an additional 351 shares during the period. Financial Advisory Service Inc.’s holdings in Southwest Airlines were worth $505,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in LUV. Macquarie Group Ltd. increased its position in shares of Southwest Airlines by 52.6% in the fourth quarter. Macquarie Group Ltd. now owns 313,743 shares of the airline’s stock valued at $15,637,000 after buying an additional 108,212 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Southwest Airlines by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 50,407 shares of the airline’s stock valued at $2,709,000 after buying an additional 680 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in shares of Southwest Airlines during the first quarter valued at approximately $246,000. Quadrant Capital Group LLC increased its position in shares of Southwest Airlines by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 3,488 shares of the airline’s stock valued at $184,000 after buying an additional 16 shares during the last quarter. Finally, E&G Advisors LP increased its position in shares of Southwest Airlines by 2.0% in the first quarter. E&G Advisors LP now owns 5,100 shares of the airline’s stock valued at $274,000 after buying an additional 100 shares during the last quarter. Institutional investors own 80.34% of the company’s stock.
Southwest Airlines Company (NYSE LUV) opened at 55.37 on Tuesday. The firm’s 50-day moving average price is $60.75 and its 200 day moving average price is $57.04. Southwest Airlines Company has a 12-month low of $35.43 and a 12-month high of $64.39. The firm has a market cap of $33.14 billion, a P/E ratio of 16.98 and a beta of 1.26.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the business posted $1.19 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Analysts forecast that Southwest Airlines Company will post $3.80 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a $0.125 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.50 dividend on an annualized basis and a yield of 0.90%. Southwest Airlines’s dividend payout ratio is currently 15.34%.
Southwest Airlines declared that its Board of Directors has approved a share repurchase program on Wednesday, May 17th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the airline to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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LUV has been the topic of several recent analyst reports. Cowen and Company boosted their target price on Southwest Airlines from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, April 11th. Imperial Capital boosted their target price on Southwest Airlines from $63.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. Deutsche Bank AG boosted their target price on Southwest Airlines from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Scotiabank reissued a “sector perform” rating on shares of Southwest Airlines in a report on Thursday, May 4th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $80.00 target price on shares of Southwest Airlines in a report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $65.78.
In other news, Chairman Gary C. Kelly sold 51,000 shares of Southwest Airlines stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $57.06, for a total transaction of $2,910,060.00. Following the transaction, the chairman now owns 556,808 shares in the company, valued at $31,771,464.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mark R. Shaw sold 3,823 shares of Southwest Airlines stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $59.13, for a total transaction of $226,053.99. Following the transaction, the senior vice president now owns 7,784 shares in the company, valued at approximately $460,267.92. The disclosure for this sale can be found here. Insiders sold 118,740 shares of company stock worth $6,923,568 in the last 90 days. Company insiders own 0.21% of the company’s stock.
About Southwest Airlines
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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