Southwest Airlines Co. (NYSE:LUV) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Southwest Airlines Co. (NYSE:LUVFree Report) by 3.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 69,422 shares of the airline’s stock after selling 2,147 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Southwest Airlines were worth $2,259,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of LUV. Roundview Capital LLC increased its stake in Southwest Airlines by 21.2% in the 1st quarter. Roundview Capital LLC now owns 13,336 shares of the airline’s stock valued at $611,000 after buying an additional 2,335 shares during the period. Acadian Asset Management LLC acquired a new position in Southwest Airlines in the 1st quarter valued at $403,000. APG Asset Management N.V. increased its stake in Southwest Airlines by 16.6% in the 1st quarter. APG Asset Management N.V. now owns 6,335 shares of the airline’s stock valued at $261,000 after buying an additional 900 shares during the period. Raymond James Trust N.A. grew its stake in shares of Southwest Airlines by 5.3% during the 1st quarter. Raymond James Trust N.A. now owns 12,187 shares of the airline’s stock worth $559,000 after purchasing an additional 615 shares during the period. Finally, Cibc World Market Inc. grew its stake in shares of Southwest Airlines by 3.2% during the 1st quarter. Cibc World Market Inc. now owns 40,189 shares of the airline’s stock worth $1,841,000 after purchasing an additional 1,246 shares during the period. 75.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LUV shares. JPMorgan Chase & Co. cut shares of Southwest Airlines from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $64.00 to $39.00 in a research note on Monday, May 8th. Bank of America upped their target price on shares of Southwest Airlines from $39.00 to $45.00 in a report on Monday, June 26th. 22nd Century Group restated a “maintains” rating on shares of Southwest Airlines in a report on Monday, June 26th. StockNews.com initiated coverage on shares of Southwest Airlines in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Barclays downgraded shares of Southwest Airlines from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $42.00 to $38.00 in a research report on Friday, March 10th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Southwest Airlines presently has an average rating of “Hold” and a consensus target price of $44.71.

Southwest Airlines Stock Performance

LUV stock opened at $37.59 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.19 and a current ratio of 1.26. The stock has a market capitalization of $22.37 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 0.44 and a beta of 1.19. Southwest Airlines Co. has a 1 year low of $28.40 and a 1 year high of $41.76. The stock’s fifty day moving average is $31.81 and its two-hundred day moving average is $33.02.

Southwest Airlines (NYSE:LUVFree Report) last posted its earnings results on Thursday, April 27th. The airline reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.06). The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.73 billion. Southwest Airlines had a net margin of 2.65% and a return on equity of 6.99%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.32) earnings per share. On average, research analysts predict that Southwest Airlines Co. will post 2.65 EPS for the current year.

Southwest Airlines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Wednesday, June 21st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Tuesday, June 20th. Southwest Airlines’s payout ratio is 72.00%.

Insider Buying and Selling at Southwest Airlines

In other news, EVP Ryan C. Green sold 4,936 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $29.94, for a total transaction of $147,783.84. Following the transaction, the executive vice president now directly owns 26,361 shares of the company’s stock, valued at $789,248.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by company insiders.

About Southwest Airlines

(Free Report)

Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2022, the company operated a total fleet of 770 Boeing 737 aircrafts; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten 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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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Article source: https://airlines.einnews.com/article/643729550/auabJGrCIdhrqZ5x?ref=rss&ecode=vaZAu9rk30b8KC5H

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