Thoroughbred Financial Services LLC Purchases 1,458 Shares of Southwest Airlines Co. (NYSE:LUV)

Thoroughbred Financial Services LLC grew its position in Southwest Airlines Co. (NYSE:LUV) by 19.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,781 shares of the airline’s stock after buying an additional 1,458 shares during the period. Thoroughbred Financial Services LLC’s holdings in Southwest Airlines were worth $251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new stake in Southwest Airlines during the second quarter valued at approximately $29,000. ICA Group Wealth Management LLC purchased a new stake in shares of Southwest Airlines during the 4th quarter valued at $29,000. CVA Family Office LLC boosted its position in shares of Southwest Airlines by 179.5% in the 2nd quarter. CVA Family Office LLC now owns 1,034 shares of the airline’s stock worth $30,000 after purchasing an additional 664 shares in the last quarter. Pineridge Advisors LLC purchased a new position in Southwest Airlines during the 4th quarter worth $32,000. Finally, Innealta Capital LLC purchased a new position in Southwest Airlines during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Southwest Airlines Trading Down 0.4 %

Southwest Airlines stock opened at $28.44 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. The firm has a market cap of $17.04 billion, a PE ratio of 45.14, a P/E/G ratio of 27.22 and a beta of 1.16. The stock’s 50 day simple moving average is $27.41 and its two-hundred day simple moving average is $28.06. Southwest Airlines Co. has a 12 month low of $21.91 and a 12 month high of $35.18.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, July 25th. The airline reported $0.58 EPS for the quarter, beating the consensus estimate of $0.51 by $0.07. The company had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.32 billion. Southwest Airlines had a net margin of 0.41% and a return on equity of 5.92%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $1.09 earnings per share. Analysts anticipate that Southwest Airlines Co. will post 0.23 earnings per share for the current year.

Southwest Airlines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors 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 2.53%. Southwest Airlines’s payout ratio is 114.29%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup lowered their price target on Southwest Airlines from $29.00 to $28.25 and set a “neutral” rating for the company in a report on Monday, July 29th. TD Cowen dropped their target price on shares of Southwest Airlines from $26.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, July 17th. Argus reaffirmed a “hold” rating on shares of Southwest Airlines in a report on Tuesday, May 28th. Melius reissued a “sell” rating and set a $26.00 price objective on shares of Southwest Airlines in a report on Monday, June 10th. Finally, Evercore ISI upgraded Southwest Airlines from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $30.00 to $35.00 in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.38.

Southwest Airlines Profile

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.