QS Investors LLC trimmed its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 29.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 173,592 shares of the airline’s stock after selling 73,029 shares during the quarter. QS Investors LLC’s holdings in Southwest Airlines were worth $8,069,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Acadian Asset Management LLC purchased a new position in shares of Southwest Airlines during the 4th quarter valued at approximately $33,000. Cordasco Financial Network purchased a new position in shares of Southwest Airlines during the 4th quarter valued at approximately $37,000. Intercontinental Wealth Advisors LLC purchased a new position in shares of Southwest Airlines during the 4th quarter valued at approximately $44,000. Athena Capital Advisors LLC purchased a new position in shares of Southwest Airlines during the 4th quarter valued at approximately $45,000. Finally, Colrain Capital LLC purchased a new position in shares of Southwest Airlines during the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 79.84% of the company’s stock.
Several equities analysts have recently weighed in on LUV shares. Credit Suisse Group started coverage on shares of Southwest Airlines in a report on Monday, November 19th. They set a “neutral” rating and a $54.00 target price for the company. Susquehanna Bancshares started coverage on shares of Southwest Airlines in a report on Wednesday, November 28th. They set a “neutral” rating and a $56.00 target price for the company. Citigroup lifted their target price on shares of Southwest Airlines from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, November 29th. Imperial Capital reaffirmed an “in-line” rating and set a $62.00 target price (up from $56.00) on shares of Southwest Airlines in a report on Tuesday, December 4th. Finally, Wolfe Research raised shares of Southwest Airlines from a “market perform” rating to an “outperform” rating in a report on Friday, December 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. Southwest Airlines presently has a consensus rating of “Hold” and a consensus target price of $61.76.
Shares of NYSE LUV opened at $51.38 on Friday. The firm has a market capitalization of $27.97 billion, a P/E ratio of 12.12, a P/E/G ratio of 0.86 and a beta of 1.51. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 0.45. Southwest Airlines Co has a one year low of $44.28 and a one year high of $64.02.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Thursday, January 24th. The airline reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.68 billion. Southwest Airlines had a net margin of 11.22% and a return on equity of 24.56%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. Equities research analysts expect that Southwest Airlines Co will post 5.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, March 5th. Southwest Airlines’s payout ratio is presently 15.09%.
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About Southwest Airlines
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 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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