Moors & Cabot Inc. lowered its stake in shares of Southwest Airlines Co (NYSE:LUV) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,910 shares of the airline’s stock after selling 1,500 shares during the period. Moors & Cabot Inc.’s holdings in Southwest Airlines were worth $849,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Southwest Airlines by 2.0% during the fourth quarter. BlackRock Inc. now owns 29,879,666 shares of the airline’s stock worth $1,955,625,000 after buying an additional 585,430 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Southwest Airlines by 39.1% during the fourth quarter. Bank of New York Mellon Corp now owns 8,286,126 shares of the airline’s stock worth $542,326,000 after buying an additional 2,328,296 shares during the last quarter. Egerton Capital UK LLP boosted its stake in Southwest Airlines by 9.8% during the fourth quarter. Egerton Capital UK LLP now owns 7,310,517 shares of the airline’s stock worth $478,473,000 after buying an additional 654,828 shares during the last quarter. Geode Capital Management LLC boosted its stake in Southwest Airlines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,388,729 shares of the airline’s stock worth $352,024,000 after buying an additional 109,406 shares during the last quarter. Finally, Boston Partners boosted its stake in Southwest Airlines by 101.7% during the third quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock worth $278,822,000 after buying an additional 2,511,258 shares during the last quarter. 80.05% of the stock is currently owned by institutional investors.
Southwest Airlines Co (LUV) traded down $0.71 during mid-day trading on Wednesday, hitting $59.62. The company had a trading volume of 4,682,164 shares, compared to its average volume of 4,780,000. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.70 and a quick ratio of 0.64. The stock has a market cap of $35,050.00, a P/E ratio of 17.28, a PEG ratio of 1.50 and a beta of 1.20. Southwest Airlines Co has a 52-week low of $49.76 and a 52-week high of $66.99.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be issued a $0.125 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.84%. Southwest Airlines’s dividend payout ratio is presently 14.49%.
In related news, Chairman Gary C. Kelly sold 38,779 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $57.95, for a total value of $2,247,243.05. Following the sale, the chairman now owns 581,029 shares in the company, valued at approximately $33,670,630.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO De Ven Michael G. Van sold 31,099 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $57.35, for a total value of $1,783,527.65. Following the completion of the sale, the chief operating officer now owns 172,883 shares in the company, valued at approximately $9,914,840.05. The disclosure for this sale can be found here. Insiders sold a total of 141,404 shares of company stock worth $8,416,189 in the last quarter. Company insiders own 0.21% of the company’s stock.
LUV has been the topic of a number of recent research reports. Zacks Investment Research raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Tuesday, January 30th. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $65.42 target price on the stock in a research report on Thursday, January 25th. Stifel Nicolaus restated a “buy” rating and issued a $85.00 target price (up previously from $80.00) on shares of Southwest Airlines in a research report on Wednesday, January 10th. Cowen restated a “buy” rating and issued a $67.00 target price on shares of Southwest Airlines in a research report on Tuesday, January 9th. Finally, ValuEngine downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Southwest Airlines currently has a consensus rating of “Buy” and an average target price of $67.83.
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Southwest Airlines 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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