Mutual of America Capital Management LLC reduced its position in shares of Southwest Airlines Co. (NYSE:LUV) by 5.4% during the third quarter, Holdings Channel reports. The institutional investor owned 70,747 shares of the airline’s stock after selling 4,021 shares during the period. Mutual of America Capital Management LLC’s holdings in Southwest Airlines were worth $2,751,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Phocas Financial Corp. acquired a new position in Southwest Airlines during the first quarter worth approximately $343,000. Sterneck Capital Management LLC acquired a new position in Southwest Airlines during the first quarter worth approximately $419,000. Origin Asset Management LLP boosted 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 worth $7,483,000 after buying an additional 47,029 shares in the last quarter. Curbstone Financial Management Corp boosted 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 worth $473,000 after buying an additional 760 shares in the last quarter. Finally, CKW Financial Group acquired a new position in Southwest Airlines during the second quarter worth approximately $318,000. Hedge funds and other institutional investors own 78.51% of the company’s stock.
Southwest Airlines Co. (NYSE:LUV) traded up 0.17% during trading on Friday, reaching $47.45. The company had a trading volume of 2,499,128 shares. The stock has a 50 day moving average price of $42.43 and a 200-day moving average price of $40.02. Southwest Airlines Co. has a 52-week low of $33.96 and a 52-week high of $51.34. The company has a market capitalization of $29.21 billion, a PE ratio of 13.49 and a beta of 0.86.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Wednesday, October 26th. The airline reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.05. Southwest Airlines had a net margin of 11.09% and a return on equity of 32.51%. The company earned $5.10 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same period in the previous year, the company earned $0.94 EPS. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Southwest Airlines Co. will post $3.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Stockholders of record on Thursday, December 8th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, December 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.84%. Southwest Airlines’s dividend payout ratio is presently 11.40%.
A number of research analysts have commented on LUV shares. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Tuesday, August 2nd. Morgan Stanley restated a “hold” rating and set a $43.00 price target on shares of Southwest Airlines in a research note on Sunday, August 21st. Imperial Capital started coverage on Southwest Airlines in a research note on Friday, September 9th. They set an “outperform” rating and a $46.00 price target on the stock. Finally, Credit Suisse Group AG set a $48.00 price target on Southwest Airlines and gave the stock a “buy” rating in a research note on Monday, September 12th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $50.70.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.