Cornerstone Capital Management Holdings LLC. Has $10.27 Million Position in Southwest Airlines Co (LUV)
Cornerstone Capital Management Holdings LLC. reduced its holdings in Southwest Airlines Co (NYSE:LUV) by 56.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,882 shares of the airline’s stock after selling 203,698 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Southwest Airlines were worth $10,267,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of LUV. BB&T Investment Services Inc. increased its position in Southwest Airlines by 325.5% in the 3rd quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock valued at $110,000 after acquiring an additional 1,211 shares during the period. Cerebellum GP LLC acquired a new stake in Southwest Airlines in the 4th quarter valued at approximately $127,000. Grove Bank & Trust increased its position in Southwest Airlines by 365.0% in the 3rd quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock valued at $134,000 after acquiring an additional 1,880 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in Southwest Airlines in the 4th quarter valued at approximately $136,000. Finally, Delpha Capital Management LLC acquired a new stake in Southwest Airlines in the 4th quarter valued at approximately $151,000. Hedge funds and other institutional investors own 80.05% of the company’s stock.
Several analysts recently commented on the company. Zacks Investment Research cut Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 price target (up from $80.00) on shares of Southwest Airlines in a research note on Wednesday, January 10th. Vetr lowered Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $63.03 price target for the company. in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lowered Southwest Airlines from an “overweight” rating to a “neutral” rating and set a $70.00 price target for the company. in a research note on Tuesday, January 30th. Finally, ValuEngine lowered Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Southwest Airlines presently has a consensus rating of “Buy” and an average target price of $67.83.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, January 25th. The airline reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. The business had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.25 billion. Southwest Airlines had a return on equity of 23.43% and a net margin of 16.48%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. research analysts anticipate that Southwest Airlines Co will post 4.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, March 6th. Southwest Airlines’s dividend payout ratio is presently 8.59%.
In other Southwest Airlines news, Director William H. Dr Cunningham bought 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $56.25 per share, with a total value of $196,875.00. Following the completion of the transaction, the director now directly owns 70,469 shares in the company, valued at approximately $3,963,881.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gary C. Kelly sold 38,779 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $57.95, for a total value of $2,247,243.05. Following the completion of the sale, the chairman now directly owns 581,029 shares of the company’s stock, valued at approximately $33,670,630.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,473 shares of company stock valued at $6,296,091. Corporate insiders own 0.21% of the company’s stock.
Southwest Airlines Profile
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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