Jaffetilchin Investment Partners LLC Buys Shares of 7,679 Southwest Airlines Company (LUV)
Jaffetilchin Investment Partners LLC bought a new stake in shares of Southwest Airlines Company (NYSE:LUV) during the second quarter, Holdings Channel reports. The institutional investor bought 7,679 shares of the airline’s stock, valued at approximately $477,000.
Other large investors have also recently made changes to their positions in the company. Retirement Systems of Alabama boosted its position in Southwest Airlines by 0.9% in the first quarter. Retirement Systems of Alabama now owns 617,404 shares of the airline’s stock worth $33,192,000 after buying an additional 5,626 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Southwest Airlines during the first quarter worth about $1,113,000. Rothschild Investment Corp IL boosted its position in Southwest Airlines by 3.8% in the first quarter. Rothschild Investment Corp IL now owns 4,524 shares of the airline’s stock worth $243,000 after buying an additional 167 shares in the last quarter. Huntington National Bank boosted its position in Southwest Airlines by 53.7% in the first quarter. Huntington National Bank now owns 6,847 shares of the airline’s stock worth $368,000 after buying an additional 2,392 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new position in Southwest Airlines during the first quarter worth about $466,000. Institutional investors own 80.58% of the company’s stock.
Shares of Southwest Airlines Company (NYSE LUV) opened at 55.20 on Wednesday. Southwest Airlines Company has a 12 month low of $36.05 and a 12 month high of $64.39. The stock has a 50 day moving average of $59.17 and a 200 day moving average of $57.31. The firm has a market cap of $33.04 billion, a price-to-earnings ratio of 16.93 and a beta of 1.26.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.04. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.73 billion. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 EPS. On average, equities research analysts expect that Southwest Airlines Company will post $3.80 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be issued a $0.125 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.91%. Southwest Airlines’s dividend payout ratio is presently 15.34%.
Southwest Airlines announced that its Board of Directors has approved a share buyback plan on Wednesday, May 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the airline to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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A number of research analysts have issued reports on the stock. Zacks Investment Research cut shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub cut shares of Southwest Airlines from a “hold” rating to a “sell” rating in a report on Sunday, July 30th. Cowen and Company reaffirmed a “buy” rating and issued a $67.00 price target on shares of Southwest Airlines in a report on Friday, July 28th. Vetr raised shares of Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $64.53 price target for the company in a report on Thursday, July 27th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Southwest Airlines in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.78.
In related news, COO De Ven Michael G. Van sold 15,273 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $57.14, for a total value of $872,699.22. Following the sale, the chief operating officer now directly owns 182,302 shares of the company’s stock, valued at approximately $10,416,736.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William H. Dr Cunningham acquired 4,500 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $54.00 per share, for a total transaction of $243,000.00. Following the completion of the purchase, the director now owns 66,969 shares in the company, valued at approximately $3,616,326. The disclosure for this purchase can be found here. Insiders sold a total of 67,740 shares of company stock valued at $4,013,508 in the last quarter. Insiders own 0.21% of the company’s stock.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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