Kestra Private Wealth Services LLC lowered its holdings in shares of Southwest Airlines Co. (NYSE:LUV – Free Report) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,388 shares of the airline’s stock after selling 2,207 shares during the period. Kestra Private Wealth Services LLC’s holdings in Southwest Airlines were worth $1,571,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Southwest Airlines by 2.0% during the first quarter. Vanguard Group Inc. now owns 63,028,745 shares of the airline’s stock worth $2,886,717,000 after buying an additional 1,213,767 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Southwest Airlines by 74,645.8% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 29,236,805 shares of the airline’s stock valued at $1,058,665,000 after acquiring an additional 29,197,690 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Southwest Airlines by 39.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,991,802 shares of the airline’s stock valued at $715,615,000 after acquiring an additional 6,244,136 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Southwest Airlines by 7.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 18,213,320 shares of the airline’s stock valued at $613,243,000 after acquiring an additional 1,269,782 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of Southwest Airlines by 91,675.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,296,139 shares of the airline’s stock valued at $515,021,000 after acquiring an additional 15,279,472 shares during the period. Institutional investors and hedge funds own 78.22% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on LUV shares. Jefferies Financial Group cut their price objective on Southwest Airlines from $25.00 to $20.00 and set an “underperform” rating for the company in a report on Friday, September 29th. Deutsche Bank Aktiengesellschaft cut Southwest Airlines from a “buy” rating to a “hold” rating and cut their price objective for the company from $52.00 to $38.00 in a report on Friday, July 28th. TD Cowen cut Southwest Airlines from an “outperform” rating to a “market perform” rating and cut their price target for the company from $26.00 to $20.00 in a report on Friday, October 27th. Susquehanna cut their price target on Southwest Airlines from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, October 31st. Finally, Citigroup cut their price target on Southwest Airlines from $32.75 to $28.00 in a report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Southwest Airlines has an average rating of “Hold” and a consensus price target of $32.06.
Check Out Our Latest Stock Report on LUV
Southwest Airlines Price Performance
Southwest Airlines stock opened at $23.16 on Friday. The firm has a market capitalization of $13.81 billion, a P/E ratio of 30.88, a PEG ratio of 0.99 and a beta of 1.16. Southwest Airlines Co. has a 1 year low of $21.91 and a 1 year high of $40.38. The business has a 50-day moving average of $26.29 and a 200-day moving average of $30.48. The company has a current ratio of 1.21, a quick ratio of 1.14 and a debt-to-equity ratio of 0.72.
Southwest Airlines (NYSE:LUV – Get Free Report) last posted its earnings results on Thursday, October 26th. The airline reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.56 billion. Southwest Airlines had a return on equity of 5.08% and a net margin of 1.95%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. On average, equities analysts anticipate that Southwest Airlines Co. will post 1.42 EPS for the current year.
Southwest Airlines Company Profile
Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2022, the company operated a total fleet of 770 Boeing 737 aircrafts; 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.
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