Wallace Advisory Group LLC Sells 4,124 Shares of Southwest Airlines Co. (NYSE:LUV)

Wallace Advisory Group LLC trimmed its position in shares of Southwest Airlines Co. (NYSE:LUV) by 36.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,125 shares of the airline’s stock after selling 4,124 shares during the period. Wallace Advisory Group LLC’s holdings in Southwest Airlines were worth $206,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LUV. Hexagon Capital Partners LLC raised its holdings in Southwest Airlines by 374.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 858 shares of the airline’s stock worth $25,000 after purchasing an additional 677 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Southwest Airlines by 82.8% in the fourth quarter. Capital Advisors Ltd. LLC now owns 914 shares of the airline’s stock worth $26,000 after buying an additional 414 shares during the period. First Horizon Advisors Inc. bought a new stake in Southwest Airlines during the 4th quarter valued at approximately $29,000. ICA Group Wealth Management LLC purchased a new position in shares of Southwest Airlines during the 4th quarter worth approximately $29,000. Finally, Pineridge Advisors LLC bought a new position in shares of Southwest Airlines in the 4th quarter worth approximately $32,000. 80.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LUV. Argus reissued a “hold” rating on shares of Southwest Airlines in a research report on Tuesday, May 28th. Susquehanna dropped their price target on shares of Southwest Airlines from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Sanford C. Bernstein reduced their price objective on shares of Southwest Airlines from $27.00 to $26.00 and set a “market perform” rating for the company in a research note on Monday, May 6th. Morgan Stanley decreased their target price on shares of Southwest Airlines from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, April 5th. Finally, Citigroup increased their price target on shares of Southwest Airlines from $27.50 to $29.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.83.

Southwest Airlines Trading Up 0.1 %

Shares of Southwest Airlines stock opened at $28.52 on Wednesday. Southwest Airlines Co. has a fifty-two week low of $21.91 and a fifty-two week high of $39.53. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.09. The company has a market cap of $17.07 billion, a P/E ratio of 45.27, a price-to-earnings-growth ratio of 1.74 and a beta of 1.15. The firm has a 50-day simple moving average of $27.76 and a two-hundred day simple moving average of $29.41.

Southwest Airlines (NYSE:LUV) last released its quarterly 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 business had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.42 billion. Southwest Airlines had a return on equity of 8.91% and a net margin of 1.59%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.27) EPS. As a group, equities analysts predict that Southwest Airlines Co. will post 1.03 earnings per share for the current fiscal year.

Southwest Airlines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Wednesday, June 19th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Tuesday, June 18th. Southwest Airlines’s payout ratio is 114.29%.

Southwest Airlines Company 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.