Bristol Gate Capital Partners Inc. raised its position in shares of Southwest Airlines Company (NYSE:LUV) by 13.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 577,017 shares of the airline’s stock after acquiring an additional 69,760 shares during the period. Southwest Airlines makes up 4.9% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 3rd biggest position. Bristol Gate Capital Partners Inc. owned about 0.10% of Southwest Airlines worth $32,301,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of LUV. Tudor Investment Corp ET AL purchased a new stake in Southwest Airlines during the first quarter valued at about $299,000. First Command Bank grew its position in Southwest Airlines by 100.0% during the second quarter. First Command Bank now owns 14,970 shares of the airline’s stock valued at $930,000 after acquiring an additional 7,485 shares during the period. Fox Run Management L.L.C. purchased a new stake in Southwest Airlines during the second quarter valued at about $273,000. First American Bank acquired a new position in shares of Southwest Airlines during the second quarter worth about $1,127,000. Finally, Deane Retirement Strategies Inc. acquired a new position in shares of Southwest Airlines during the second quarter worth about $1,535,000. 80.15% of the stock is owned by hedge funds and other institutional investors.
Shares of Southwest Airlines Company (NYSE LUV) traded down $0.24 during midday trading on Tuesday, reaching $53.25. The company’s stock had a trading volume of 2,982,000 shares, compared to its average volume of 5,235,721. Southwest Airlines Company has a 12-month low of $43.88 and a 12-month high of $64.39. The firm has a market capitalization of $31,850.00, a PE ratio of 15.41, a P/E/G ratio of 1.77 and a beta of 1.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.61 and a quick ratio of 0.55.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, October 26th. The airline reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.01. Southwest Airlines had a return on equity of 24.85% and a net margin of 10.12%. The firm had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. Southwest Airlines’s revenue for the quarter was up 2.6% compared to the same quarter last year. research analysts anticipate that Southwest Airlines Company will post 3.56 EPS for the current fiscal year.
LUV has been the topic of a number of recent research reports. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 price objective on the stock in a research note on Tuesday, July 18th. BidaskClub cut Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Cowen and Company restated a “buy” rating and set a $67.00 price objective on shares of Southwest Airlines in a research note on Friday, July 28th. Zacks Investment Research cut Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Morgan Stanley set a $64.00 price objective on Southwest Airlines and gave the stock a “buy” rating in a research note on Thursday, August 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $67.00.
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In other Southwest Airlines news, Director John T. Montford sold 935 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $53.94, for a total transaction of $50,433.90. Following the sale, the director now owns 25,000 shares in the company, valued at $1,348,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.21% of the company’s stock.
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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