Bokf Na Sells 1,603 Shares of Southwest Airlines Co. (NYSE:LUV)

Bokf Na decreased its holdings in Southwest Airlines Co. (NYSE:LUV) by 9.0% in the second quarter, Holdings Channel reports. The firm owned 16,193 shares of the airline’s stock after selling 1,603 shares during the quarter. Bokf Na’s holdings in Southwest Airlines were worth $463,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LUV. Vanguard Group Inc. grew its position in Southwest Airlines by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 67,569,773 shares of the airline’s stock worth $1,972,362,000 after purchasing an additional 2,148,435 shares during the period. Capital World Investors boosted its holdings in shares of Southwest Airlines by 14.9% in the first quarter. Capital World Investors now owns 61,422,187 shares of the airline’s stock worth $1,792,914,000 after buying an additional 7,946,199 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Southwest Airlines by 0.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 10,790,654 shares of the airline’s stock valued at $311,634,000 after buying an additional 47,119 shares during the period. Kiltearn Partners LLP increased its holdings in Southwest Airlines by 0.5% during the fourth quarter. Kiltearn Partners LLP now owns 2,468,983 shares of the airline’s stock valued at $71,304,000 after buying an additional 12,000 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Southwest Airlines by 1.3% in the second quarter. Rhumbline Advisers now owns 1,107,507 shares of the airline’s stock worth $31,686,000 after acquiring an additional 14,017 shares during the period. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Southwest Airlines Trading Down 0.5 %

Shares of LUV opened at $28.54 on Tuesday. Southwest Airlines Co. has a fifty-two week low of $21.91 and a fifty-two week high of $35.18. The stock has a market capitalization of $17.10 billion, a PE ratio of 45.30, a P/E/G ratio of 27.22 and a beta of 1.16. The company’s fifty day moving average is $27.39 and its 200 day moving average is $28.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 0.90.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, July 25th. The airline reported $0.58 EPS for the quarter, topping the consensus estimate of $0.51 by $0.07. Southwest Airlines had a return on equity of 5.92% and a net margin of 0.41%. The company had revenue of $7.40 billion during the quarter, compared to analyst estimates of $7.32 billion. During the same quarter last year, the business posted $1.09 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts expect that Southwest Airlines Co. will post 0.23 earnings per share for the current fiscal year.

Southwest Airlines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors 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 yield of 2.52%. Southwest Airlines’s dividend payout ratio is presently 114.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Argus restated a “hold” rating on shares of Southwest Airlines in a research note on Tuesday, May 28th. Melius reaffirmed a “sell” rating and issued a $26.00 target price on shares of Southwest Airlines in a report on Monday, June 10th. Evercore ISI raised Southwest Airlines from an “in-line” rating to an “outperform” rating and raised their price target for the company from $30.00 to $35.00 in a report on Tuesday, September 3rd. Citigroup dropped their price objective on Southwest Airlines from $29.00 to $28.25 and set a “neutral” rating for the company in a research note on Monday, July 29th. Finally, Sanford C. Bernstein lowered their price target on Southwest Airlines from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, August 5th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Southwest Airlines presently has an average rating of “Hold” and a consensus price target of $28.38.

Southwest Airlines Profile

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.