Crossmark Global Holdings Inc. Has $932,000 Stake in Southwest Airlines Co. (NYSE:LUV)

Crossmark Global Holdings Inc. reduced its holdings in Southwest Airlines Co. (NYSE:LUV) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,595 shares of the airline’s stock after selling 583 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Southwest Airlines were worth $932,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Southwest Airlines by 2,207.1% during the 4th quarter. International Assets Investment Management LLC now owns 149,797 shares of the airline’s stock worth $4,326,000 after buying an additional 143,304 shares during the period. Kestra Private Wealth Services LLC increased its position in shares of Southwest Airlines by 4.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 42,993 shares of the airline’s stock worth $1,242,000 after acquiring an additional 1,929 shares in the last quarter. Savant Capital LLC raised its holdings in shares of Southwest Airlines by 16.2% during the fourth quarter. Savant Capital LLC now owns 11,266 shares of the airline’s stock worth $325,000 after acquiring an additional 1,569 shares during the period. Hexagon Capital Partners LLC lifted its position in Southwest Airlines by 374.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 858 shares of the airline’s stock valued at $25,000 after acquiring an additional 677 shares in the last quarter. Finally, LGT Group Foundation acquired a new position in Southwest Airlines in the 4th quarter worth $208,000. Institutional investors and hedge funds own 80.82% of the company’s stock.

Analysts Set New Price Targets

LUV has been the topic of a number of research reports. Melius restated a “sell” rating and issued a $26.00 price target on shares of Southwest Airlines in a report on Monday, June 10th. TD Cowen decreased their price target on shares of Southwest Airlines from $26.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, July 17th. Barclays boosted their price objective on shares of Southwest Airlines from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Argus reaffirmed a “hold” rating on shares of Southwest Airlines in a research report on Tuesday, May 28th. Finally, HSBC began coverage on shares of Southwest Airlines in a research note on Monday, May 13th. They set a “hold” rating and a $27.80 price objective for the company. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.38.

Southwest Airlines Stock Performance

LUV opened at $28.92 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 0.48. The stock has a market cap of $17.31 billion, a price-to-earnings ratio of 45.90, a PEG ratio of 24.83 and a beta of 1.15. Southwest Airlines Co. has a 12-month low of $21.91 and a 12-month high of $35.18. The business has a 50 day moving average of $27.17 and a 200-day moving average of $28.55.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, July 25th. The airline reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.07. The firm 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%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $1.09 earnings per share. On average, equities research analysts expect that Southwest Airlines Co. will post 0.23 earnings per share for the current year.

Southwest Airlines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.49%. Southwest Airlines’s payout ratio is presently 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.