Prosperity Consulting Group LLC Has $280,000 Stake in Southwest Airlines Co. (NYSE:LUV)

Prosperity Consulting Group LLC reduced its stake in Southwest Airlines Co. (NYSE:LUV) by 26.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,803 shares of the airline’s stock after selling 3,612 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Southwest Airlines were worth $280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LUV. ICA Group Wealth Management LLC bought a new stake in shares of Southwest Airlines in the fourth quarter valued at about $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in Southwest Airlines in the 2nd quarter valued at approximately $29,000. CVA Family Office LLC lifted its stake in Southwest Airlines by 179.5% in the 2nd quarter. CVA Family Office LLC now owns 1,034 shares of the airline’s stock valued at $30,000 after acquiring an additional 664 shares in the last quarter. Pineridge Advisors LLC acquired a new position in Southwest Airlines during the 4th quarter worth approximately $32,000. Finally, Innealta Capital LLC bought a new position in shares of Southwest Airlines during the 2nd quarter worth approximately $33,000. 80.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Sanford C. Bernstein cut their price objective on shares of Southwest Airlines from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $29.00 price target (down from $32.00) on shares of Southwest Airlines in a research report on Friday, July 26th. TD Cowen decreased their price objective on Southwest Airlines from $26.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, July 17th. Argus reaffirmed a “hold” rating on shares of Southwest Airlines in a research report on Tuesday, May 28th. Finally, Evercore ISI upgraded Southwest Airlines from an “in-line” rating to an “outperform” rating and raised their price target for the company from $30.00 to $35.00 in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Southwest Airlines presently has an average rating of “Hold” and an average price target of $28.38.

Southwest Airlines Trading Down 0.7 %

LUV stock opened at $28.68 on Monday. Southwest Airlines Co. has a one year low of $21.91 and a one year high of $35.18. The stock has a market cap of $17.18 billion, a price-to-earnings ratio of 45.52, a price-to-earnings-growth ratio of 27.22 and a beta of 1.16. The company has a fifty day moving average price of $27.36 and a two-hundred day moving average price of $28.14. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.90 and a quick ratio of 0.85.

Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, July 25th. The airline reported $0.58 EPS for the quarter, topping the consensus estimate of $0.51 by $0.07. The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.32 billion. Southwest Airlines had a net margin of 0.41% and a return on equity of 5.92%. Southwest Airlines’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. Equities analysts anticipate that Southwest Airlines Co. will post 0.23 EPS for the current year.

Southwest Airlines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, September 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.51%. Southwest Airlines’s dividend payout ratio (DPR) is currently 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.