Teacher Retirement System of Texas decreased its position in Southwest Airlines Company (NYSE:LUV) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 491,125 shares of the airline’s stock after selling 4 shares during the period. Teacher Retirement System of Texas’ holdings in Southwest Airlines were worth $30,519,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of LUV. Vanguard Group Inc. raised its position in Southwest Airlines by 0.7% in the first quarter. Vanguard Group Inc. now owns 38,498,787 shares of the airline’s stock worth $2,069,695,000 after buying an additional 286,456 shares during the last quarter. BlackRock Inc. raised its position in Southwest Airlines by 4,163.3% in the first quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock worth $1,880,703,000 after buying an additional 34,162,752 shares during the last quarter. State Street Corp raised its position in Southwest Airlines by 1.5% in the first quarter. State Street Corp now owns 23,480,558 shares of the airline’s stock worth $1,262,308,000 after buying an additional 353,960 shares during the last quarter. Egerton Capital UK LLP raised its position in Southwest Airlines by 39.0% in the first quarter. Egerton Capital UK LLP now owns 9,401,341 shares of the airline’s stock worth $505,416,000 after buying an additional 2,638,743 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Southwest Airlines by 80.3% in the first quarter. Ameriprise Financial Inc. now owns 7,809,175 shares of the airline’s stock worth $419,796,000 after buying an additional 3,477,912 shares during the last quarter. Hedge funds and other institutional investors own 80.34% of the company’s stock.
Shares of Southwest Airlines Company (NYSE:LUV) opened at 54.14 on Friday. Southwest Airlines Company has a 1-year low of $36.05 and a 1-year high of $64.39. The stock has a market capitalization of $32.41 billion, a P/E ratio of 16.60 and a beta of 1.26. The stock has a 50 day moving average of $59.56 and a 200-day moving average of $57.18.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same period last year, the company earned $1.19 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts predict that Southwest Airlines Company will post $3.80 earnings per share for the current fiscal year.
Southwest Airlines announced that its board has initiated a stock buyback program on Wednesday, May 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the airline to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be given a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.50 annualized dividend and a dividend yield of 0.92%. Southwest Airlines’s dividend payout ratio is presently 15.34%.
LUV has been the topic of a number of recent research reports. Sanford C. Bernstein restated an “outperform” rating and set a $70.00 price target on shares of Southwest Airlines in a research report on Thursday, July 13th. BidaskClub lowered shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research lowered shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Vetr upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 price target on the stock in a research report on Tuesday, June 27th. Finally, ValuEngine upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One 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. The company currently has a consensus rating of “Buy” and a consensus target price of $65.78.
In related news, COO De Ven Michael G. Van sold 15,273 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $57.14, for a total value of $872,699.22. Following the sale, the chief operating officer now directly owns 182,302 shares of the company’s stock, valued at $10,416,736.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeff Lamb sold 19,800 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $61.00, for a total transaction of $1,207,800.00. Following the completion of the sale, the executive vice president now directly owns 92,468 shares in the company, valued at $5,640,548. The disclosure for this sale can be found here. Insiders sold 118,740 shares of company stock worth $6,923,568 over the last three months. 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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