CIBC Asset Management Inc Sells 6,259 Shares of Southwest Airlines Co. (NYSE:LUV)

CIBC Asset Management Inc trimmed its position in Southwest Airlines Co. (NYSE:LUV) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,209 shares of the airline’s stock after selling 6,259 shares during the period. CIBC Asset Management Inc’s holdings in Southwest Airlines were worth $2,605,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LUV. Arizona State Retirement System lifted its holdings in shares of Southwest Airlines by 0.8% during the 4th quarter. Arizona State Retirement System now owns 40,926 shares of the airline’s stock worth $1,182,000 after acquiring an additional 339 shares during the last quarter. TRUE Private Wealth Advisors lifted its holdings in shares of Southwest Airlines by 2.2% during the 4th quarter. TRUE Private Wealth Advisors now owns 17,383 shares of the airline’s stock worth $502,000 after acquiring an additional 369 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Southwest Airlines by 82.8% during the 4th quarter. Capital Advisors Ltd. LLC now owns 914 shares of the airline’s stock worth $26,000 after acquiring an additional 414 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Southwest Airlines by 24.4% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,115 shares of the airline’s stock worth $61,000 after acquiring an additional 415 shares during the last quarter. Finally, Waverly Advisors LLC lifted its holdings in shares of Southwest Airlines by 4.3% during the 3rd quarter. Waverly Advisors LLC now owns 10,071 shares of the airline’s stock worth $273,000 after acquiring an additional 419 shares during the last quarter. 80.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LUV has been the subject of a number of research analyst reports. TD Cowen dropped their price objective on shares of Southwest Airlines from $26.00 to $25.00 and set a “hold” rating for the company in a report on Friday, April 26th. Sanford C. Bernstein decreased their target price on shares of Southwest Airlines from $27.00 to $26.00 and set a “market perform” rating on the stock in a research report on Monday, May 6th. Argus reiterated a “hold” rating on shares of Southwest Airlines in a research report on Tuesday, May 28th. StockNews.com cut shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Finally, UBS Group started coverage on shares of Southwest Airlines in a research report on Wednesday, March 20th. They issued a “buy” rating and a $36.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.10.

Southwest Airlines Price Performance

LUV stock opened at $27.76 on Friday. The firm’s 50-day moving average price is $27.71 and its two-hundred day moving average price is $29.17. The stock has a market capitalization of $16.61 billion, a price-to-earnings ratio of 44.06, a PEG ratio of 1.50 and a beta of 1.15. The company has a current ratio of 1.09, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. Southwest Airlines Co. has a 12-month low of $21.91 and a 12-month high of $39.53.

Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, April 25th. The airline reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The company had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.42 billion. Southwest Airlines had a net margin of 1.59% and a return on equity of 8.91%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.27) EPS. As a group, equities analysts predict that Southwest Airlines Co. will post 1.05 earnings per share for the current year.

Southwest Airlines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 19th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Tuesday, June 18th. Southwest Airlines’s payout ratio is 114.29%.

About Southwest Airlines

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.