Sequoia Financial Advisors LLC Acquires 510 Shares of Southwest Airlines Co. (NYSE:LUV)

VaselineAugust 16, 2024

0 4 minutes read

Sequoia Financial Advisors LLC grew its holdings in Southwest Airlines Co. (NYSE:LUV – Free Report) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,797 shares of the airline’s stock after purchasing an additional 510 shares during the period. Sequoia Financial Advisors LLC’s holdings in Southwest Airlines were worth $309,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Southwest Airlines by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 67,569,773 shares of the airline’s stock worth $1,972,362,000 after buying an additional 2,148,435 shares in the last quarter. Capital World Investors grew its stake in shares of Southwest Airlines by 14.9% in the first quarter. Capital World Investors now owns 61,422,187 shares of the airline’s stock worth $1,792,914,000 after acquiring an additional 7,946,199 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Southwest Airlines by 0.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 10,790,654 shares of the airline’s stock valued at $311,634,000 after purchasing an additional 47,119 shares during the last quarter. Provident Trust Co. raised its holdings in shares of Southwest Airlines by 6.5% during the fourth quarter. Provident Trust Co. now owns 7,599,210 shares of the airline’s stock valued at $219,465,000 after purchasing an additional 460,480 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Southwest Airlines by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,188,348 shares of the airline’s stock valued at $92,079,000 after purchasing an additional 111,190 shares during the period. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equity research analysts have commented on the stock. Raymond James reaffirmed an “outperform” rating and issued a $30.00 target price (down previously from $33.00) on shares of Southwest Airlines in a research report on Friday, April 26th. Susquehanna reduced their price objective on Southwest Airlines from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Argus reissued a “hold” rating on shares of Southwest Airlines in a research report on Tuesday, May 28th. HSBC started coverage on shares of Southwest Airlines in a research report on Monday, May 13th. They set a “hold” rating and a $27.80 price target for the company. Finally, TD Cowen lowered their price objective on shares of Southwest Airlines from $26.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.47.

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Southwest Airlines Price Performance

Shares of Southwest Airlines stock opened at $26.54 on Friday. The company has a market capitalization of $15.90 billion, a price-to-earnings ratio of 42.13, a PEG ratio of 17.89 and a beta of 1.15. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 0.48. The stock’s 50-day simple moving average is $27.33 and its 200-day simple moving average is $28.79. Southwest Airlines Co. has a 52 week low of $21.91 and a 52 week high of $35.18.

Southwest Airlines (NYSE:LUV – Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The airline reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. The company had revenue of $7.40 billion for the quarter, compared to analysts’ expectations of $7.32 billion. Southwest Airlines had a return on equity of 5.92% and a net margin of 0.41%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 EPS. As a group, analysts expect that Southwest Airlines Co. will post 0.31 earnings per share for the current fiscal year.

Southwest Airlines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $0.72 dividend on an annualized basis and a yield of 2.71%. Southwest Airlines’ dividend payout ratio is currently 114.29%.

Southwest Airlines Profile

(Free Report)

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; 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.