Baker Ellis Asset Management LLC Has $328,000 Position in Southwest Airlines Company (NYSE:LUV)

Baker Ellis Asset Management LLC held its stake in Southwest Airlines Company (NYSE:LUV) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,280 shares of the airline’s stock at the end of the second quarter. Baker Ellis Asset Management LLC’s holdings in Southwest Airlines were worth $328,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in LUV. Macquarie Group Ltd. increased its stake in Southwest Airlines by 52.6% in the fourth quarter. Macquarie Group Ltd. now owns 313,743 shares of the airline’s stock worth $15,637,000 after buying an additional 108,212 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake 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 worth $2,709,000 after buying an additional 680 shares during the period. Koshinski Asset Management Inc. bought a new stake in shares of Southwest Airlines during the first quarter worth approximately $246,000. Quadrant Capital Group LLC boosted its stake 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 worth $184,000 after buying an additional 16 shares during the period. Finally, E&G Advisors LP boosted its stake 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 worth $274,000 after buying an additional 100 shares during the period. Institutional investors own 80.34% of the company’s stock.

Southwest Airlines Company (LUV) opened at 55.37 on Tuesday. Southwest Airlines Company has a 1-year low of $35.43 and a 1-year high of $64.39. The firm has a 50-day moving average price of $60.75 and a 200-day moving average price of $57.04. The firm has a market capitalization of $33.14 billion, a PE ratio of 16.98 and a beta of 1.26.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same period last year, the company posted $1.19 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts expect that Southwest Airlines Company will post $3.80 earnings per share for the current fiscal year.

Southwest Airlines declared that its board has authorized a stock buyback program on Wednesday, May 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the airline to purchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.34%.

LUV has been the subject of a number of analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $67.00 price objective on shares of Southwest Airlines in a research note on Friday, July 28th. BidaskClub cut Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Sunday, July 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $66.00 price objective (up from $65.00) on shares of Southwest Airlines in a research note on Monday, July 10th. Imperial Capital lifted their price objective on Southwest Airlines from $63.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Finally, Deutsche Bank AG lifted their price objective on Southwest Airlines from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Southwest Airlines currently has an average rating of “Buy” and an average target price of $65.78.

In other news, SVP Mark R. Shaw sold 3,823 shares of Southwest Airlines stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $59.13, for a total value of $226,053.99. Following the completion of the transaction, the senior vice president now directly owns 7,784 shares of the company’s stock, valued at approximately $460,267.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory D. Wells sold 5,249 shares of Southwest Airlines stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $57.65, for a total value of $302,604.85. Following the completion of the transaction, the executive vice president now directly owns 16,458 shares of the company’s stock, valued at $948,803.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,740 shares of company stock valued at $6,923,568. Corporate 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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