Southwest Airlines Co. (NYSE:LUV) Shares Acquired by CVA Family Office LLC

CVA Family Office LLC boosted its stake in Southwest Airlines Co. (NYSE:LUV) by 60.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,661 shares of the airline’s stock after buying an additional 627 shares during the period. CVA Family Office LLC’s holdings in Southwest Airlines were worth $49,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new stake in Southwest Airlines during the second quarter valued at $29,000. Pineridge Advisors LLC bought a new position in Southwest Airlines in the fourth quarter worth about $32,000. Innealta Capital LLC acquired a new position in Southwest Airlines in the second quarter valued at approximately $33,000. Mather Group LLC. bought a new position in shares of Southwest Airlines during the first quarter valued at approximately $34,000. Finally, AM Squared Ltd acquired a new stake in shares of Southwest Airlines during the 2nd quarter worth approximately $37,000. 80.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Rakesh Gangwal bought 643,788 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was bought at an average cost of $29.98 per share, for a total transaction of $19,300,764.24. Following the completion of the acquisition, the director now directly owns 3,606,311 shares in the company, valued at $108,117,203.78. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Southwest Airlines Stock Up 0.9 %

LUV stock opened at $30.62 on Monday. The firm has a market cap of $18.32 billion, a PE ratio of 48.60, a P/E/G ratio of 12.06 and a beta of 1.17. Southwest Airlines Co. has a 12 month low of $21.91 and a 12 month high of $35.18. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.90 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $28.37 and a 200 day simple moving average of $27.99.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 25th. The airline reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07. The company had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.32 billion. Southwest Airlines had a return on equity of 5.92% and a net margin of 0.41%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 EPS. Equities research analysts forecast that Southwest Airlines Co. will post 0.54 earnings per share for the current fiscal year.

Southwest Airlines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a $0.18 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.72 dividend on an annualized basis and a yield of 2.35%. Southwest Airlines’s dividend payout ratio is currently 114.29%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LUV shares. Barclays boosted their price objective on Southwest Airlines from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. BNP Paribas raised shares of Southwest Airlines to a “strong sell” rating in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $29.00 price target (down previously from $32.00) on shares of Southwest Airlines in a research note on Friday, July 26th. TD Cowen raised their price target on Southwest Airlines from $19.00 to $25.00 and gave the company a “hold” rating in a report on Monday, September 30th. Finally, Susquehanna upped their price objective on shares of Southwest Airlines from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.02.

Southwest Airlines Company 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.