Recently, several institutional investors and hedge funds changed their holdings in Southwest Airlines (LUV). The State of Alaska Department of Revenue increased its shares by 0.6%, now owning 64,743 shares worth $1.89 million. Brookstone Capital Management raised its stake by 5% to 8,055 shares worth $235,000. GPS Wealth Strategies Group boosted its shares by 35.4%, totaling 1,487 shares valued at $43,000. Oregon Public Employees Retirement Fund grew its ownership by 0.8%, holding 51,395 shares worth $1.47 million. Lastly, Versant Capital Management increased its position by 42.6% to 1,412 shares valued at $40,000. Institutional investors now own 80.82% of LUV’s stock.
Analyst Ratings Changes
Analysts have recently adjusted their ratings for Southwest Airlines. Citigroup lowered its price target from $29.00 to $28.25 and rated it “neutral” on July 29th. Evercore ISI upgraded its rating from “in-line” to “outperform,” raising the target from $30.00 to $35.00 on September 3rd. Sanford C. Bernstein decreased its target from $26.00 to $24.00 on August 5th. Jefferies raised its target from $20.00 to $24.00 with an “underperform” rating. Barclays increased the price target from $26.00 to $27.00, rating it “equal weight” on July 10th. Currently, four analysts have a sell rating, nine a hold rating, and four a buy rating, giving the consensus a “Hold” with an average price target of $29.00.
View Our Latest Stock Report on LUV
Insider Activity at Southwest Airlines
On October 1st, Director Rakesh Gangwal purchased 643,788 shares at $29.98 each, totaling about $19.3 million. He now owns over 3.6 million shares, valued at around $108.1 million. Corporate insiders own 0.33% of the stock.
Southwest Airlines Price Performance
NYSE:LUV opened at $29.57. The company’s market cap is $17.70 billion with a PE ratio of 46.94. It has a 52-week low of $21.91 and a high of $35.18. The latest quarterly earnings report showed $0.58 EPS, beating estimates. Revenue was $7.40 billion compared to predictions of $7.32 billion. Analysts expect a 0.24 EPS for the current fiscal year.
Southwest Airlines Announces Dividend
The company recently declared a quarterly dividend of $0.18, paid on September 25th. This equates to an annual dividend of $0.72, yielding 2.43% with a payout ratio of 114.29%.
Southwest Airlines Company Profile
Southwest Airlines provides scheduled air transport services across the U.S. and some near-international markets. By December 31, 2023, it operated 817 Boeing 737 planes serving 121 destinations in 42 states and several other countries.
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