Teacher Retirement System of Texas lowered its stake in shares of Southwest Airlines Co (NYSE:LUV) by 20.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 569,971 shares of the airline’s stock after selling 146,764 shares during the quarter. Teacher Retirement System of Texas owned about 0.11% of Southwest Airlines worth $28,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Destination Wealth Management increased its position in shares of Southwest Airlines by 107.9% during the first quarter. Destination Wealth Management now owns 634 shares of the airline’s stock valued at $33,000 after buying an additional 329 shares during the period. Field & Main Bank purchased a new stake in Southwest Airlines in the first quarter worth about $35,000. Financial Gravity Wealth Inc. bought a new position in shares of Southwest Airlines in the first quarter worth approximately $39,000. NEXT Financial Group Inc lifted its stake in shares of Southwest Airlines by 1,073.5% in the second quarter. NEXT Financial Group Inc now owns 1,197 shares of the airline’s stock worth $61,000 after buying an additional 1,095 shares in the last quarter. Finally, Westside Investment Management Inc. bought a new position in shares of Southwest Airlines in the second quarter worth approximately $60,000. Institutional investors own 82.64% of the company’s stock.
Several brokerages have recently issued reports on LUV. Wolfe Research upgraded shares of Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Friday, August 16th. Barclays dropped their target price on shares of Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Imperial Capital reiterated an “in-line” rating and issued a $55.00 target price (up previously from $52.00) on shares of Southwest Airlines in a research note on Friday, April 26th. Morgan Stanley dropped their target price on shares of Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Finally, Cowen restated a “market perform” rating and set a $57.00 price objective (up previously from $55.00) on shares of Southwest Airlines in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.15.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 25th. The airline reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.02. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.26 earnings per share. As a group, analysts forecast that Southwest Airlines Co will post 4.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, August 20th. This represents a $0.72 annualized dividend and a yield of 1.42%. Southwest Airlines’s payout ratio is 16.98%.
Southwest Airlines Company Profile
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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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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