Trading Report: Today, 8,029 Shares of Southwest Airlines Co. (LUV) are sold by Bank of New York Mellon Corp

Today, 8,029 Shares of Southwest Airlines Co. (LUV) are sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in Southwest Airlines Co. (NYSE:LUV) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,697,783 shares of the airline’s stock after selling 8,029 shares during the period. Bank of New York Mellon Corp owned 1.57% of Southwest Airlines worth $377,148,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Phocas Financial Corp. purchased a new position in Southwest Airlines during the first quarter valued at approximately $343,000. Sterneck Capital Management LLC purchased a new position in Southwest Airlines during the first quarter valued at approximately $419,000. Origin Asset Management LLP raised its position in Southwest Airlines by 39.2% in the first quarter. Origin Asset Management LLP now owns 167,029 shares of the airline’s stock valued at $7,483,000 after buying an additional 47,029 shares in the last quarter. Curbstone Financial Management Corp raised its position in Southwest Airlines by 6.7% in the second quarter. Curbstone Financial Management Corp now owns 12,070 shares of the airline’s stock valued at $473,000 after buying an additional 760 shares in the last quarter. Finally, CKW Financial Group purchased a new position in Southwest Airlines during the second quarter valued at approximately $318,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.

Southwest Airlines Co. (NYSE:LUV) traded up 0.17% during midday trading on Friday, reaching $47.45. 2,499,128 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $42.11 and its 200-day moving average price is $39.99. The stock has a market cap of $29.21 billion, a PE ratio of 13.49 and a beta of 0.86. Southwest Airlines Co. has a one year low of $33.96 and a one year high of $51.34.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings results on Wednesday, October 26th. The airline reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.05. Southwest Airlines had a return on equity of 32.51% and a net margin of 11.09%. The firm earned $5.10 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the company earned $0.94 earnings per share. The company’s revenue was down 3.4% on a year-over-year basis. Equities analysts predict that Southwest Airlines Co. will post $3.66 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Stockholders of record on Thursday, December 8th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.84%. Southwest Airlines’s payout ratio is presently 11.40%.

Several equities research analysts recently issued reports on the stock. Bank of America Corp. set a $50.00 price target on shares of Southwest Airlines and gave the company a “buy” rating in a report on Saturday, October 1st. Vetr raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Monday, August 15th. Citigroup Inc. assumed coverage on shares of Southwest Airlines in a report on Friday, November 18th. They set a “buy” rating and a $57.00 price target on the stock. Imperial Capital assumed coverage on shares of Southwest Airlines in a report on Friday, September 9th. They set an “outperform” rating and a $46.00 price target on the stock. Finally, Zacks Investment Research raised shares of Southwest Airlines from a “strong sell” rating to a “hold” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $50.70.

Southwest Airlines Company Profile

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