Public Employees Retirement Association of Colorado decreased its position in Southwest Airlines Co. (NYSE:LUV) by 2.3% during the third quarter, Holdings Channel reports. The institutional investor owned 50,727 shares of the airline’s stock after selling 1,210 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Southwest Airlines were worth $1,973,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can bought a new position in shares of Southwest Airlines during the second quarter worth approximately $246,179,000. JPMorgan Chase & Co. increased its position in shares of Southwest Airlines by 60.1% in the second quarter. JPMorgan Chase & Co. now owns 5,445,479 shares of the airline’s stock worth $213,519,000 after buying an additional 2,044,766 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Southwest Airlines by 53.3% in the second quarter. AQR Capital Management LLC now owns 5,238,342 shares of the airline’s stock worth $205,395,000 after buying an additional 1,821,829 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Southwest Airlines during the second quarter worth approximately $58,545,000. Finally, Capital Fund Management S.A. increased its position in shares of Southwest Airlines by 472.4% in the second quarter. Capital Fund Management S.A. now owns 1,718,192 shares of the airline’s stock worth $67,370,000 after buying an additional 1,418,012 shares in the last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.
Southwest Airlines Co. (NYSE:LUV) opened at 47.45 on Friday. 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 52-week low of $33.96 and a 52-week high of $51.34. The firm has a 50-day moving average price of $42.43 and a 200 day moving average price of $40.02.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Wednesday, October 26th. The airline reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.17 billion. During the same quarter last year, the firm earned $0.94 EPS. Southwest Airlines’s quarterly revenue was down 3.4% on a year-over-year basis. Equities analysts anticipate that Southwest Airlines Co. will post $3.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders 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 dividend on an annualized basis and a yield of 0.84%. Southwest Airlines’s dividend payout ratio (DPR) is presently 11.40%.
A number of equities analysts have recently commented on LUV shares. Vetr raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $38.64 price objective for the company in a research report on Tuesday, September 6th. Citigroup Inc. started coverage on Southwest Airlines in a report on Friday, November 18th. They issued a “buy” rating and a $57.00 price target for the company. Morgan Stanley reaffirmed a “hold” rating and issued a $43.00 price target on shares of Southwest Airlines in a report on Sunday, August 21st. Sanford C. Bernstein started coverage on Southwest Airlines in a report on Monday, October 10th. They issued an “outperform” rating and a $51.00 price target for the company. They noted that the move was a valuation call. Finally, Imperial Capital upped their price target on Southwest Airlines from $46.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target 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.