Giverny Capital Inc. Acquires 373 Shares of Southwest Airlines Co (NYSE:LUV)
Giverny Capital Inc. lifted its holdings in Southwest Airlines Co (NYSE:LUV) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,334 shares of the airline’s stock after acquiring an additional 373 shares during the period. Giverny Capital Inc.’s holdings in Southwest Airlines were worth $220,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Hi Line Capital Management LLC lifted its holdings in shares of Southwest Airlines by 0.7% in the 2nd quarter. Hi Line Capital Management LLC now owns 112,304 shares of the airline’s stock valued at $5,703,000 after acquiring an additional 763 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Southwest Airlines by 29.6% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 33,814 shares of the airline’s stock worth $1,717,000 after purchasing an additional 7,716 shares during the period. United Capital Financial Advisers LLC raised its position in Southwest Airlines by 1.2% in the 2nd quarter. United Capital Financial Advisers LLC now owns 36,627 shares of the airline’s stock worth $1,860,000 after purchasing an additional 444 shares during the period. Profund Advisors LLC raised its position in Southwest Airlines by 22.3% in the 2nd quarter. Profund Advisors LLC now owns 15,979 shares of the airline’s stock worth $811,000 after purchasing an additional 2,918 shares during the period. Finally, Bank of Nova Scotia raised its position in Southwest Airlines by 1.9% in the 2nd quarter. Bank of Nova Scotia now owns 601,202 shares of the airline’s stock worth $30,529,000 after purchasing an additional 11,133 shares during the period. 82.10% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on LUV. Wolfe Research raised shares of Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research report on Friday, August 16th. Cowen reissued a “market perform” rating and issued a $57.00 price objective (up from $55.00) on shares of Southwest Airlines in a research report on Friday, July 26th. Argus lowered shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Zacks Investment Research lowered shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Thursday, May 16th. Finally, Morgan Stanley reduced their price objective on shares of Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.08.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, July 25th. The airline reported $1.37 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.02. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.94 billion. Southwest Airlines had a net margin of 10.73% and a return on equity of 24.12%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. On average, sell-side analysts anticipate that Southwest Airlines Co will post 4.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Tuesday, August 20th. Southwest Airlines’s dividend payout ratio (DPR) is presently 16.98%.
Southwest Airlines Company Profile
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 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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