Southwest Airlines Co. (NYSE:LUV) Shares Sold by TD Asset Management Inc (2024)

TD Asset Management Inc reduced its position in Southwest Airlines Co. (NYSE:LUV - Free Report) by 35.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 880,340 shares of the airline's stock after selling 480,691 shares during the period. TD Asset Management Inc owned 0.15% of Southwest Airlines worth $25,424,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. U S Global Investors Inc. grew its position in shares of Southwest Airlines by 24.9% in the fourth quarter. U S Global Investors Inc. now owns 6,210,347 shares of the airline's stock valued at $179,355,000 after purchasing an additional 1,238,468 shares in the last quarter. Norges Bank bought a new stake in shares of Southwest Airlines during the fourth quarter valued at about $29,789,000. Nuance Investments LLC purchased a new stake in shares of Southwest Airlines in the fourth quarter worth about $24,404,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Southwest Airlines in the third quarter valued at approximately $13,193,000. Finally, Provident Trust Co. grew its stake in Southwest Airlines by 6.5% during the fourth quarter. Provident Trust Co. now owns 7,599,210 shares of the airline's stock valued at $219,465,000 after acquiring an additional 460,480 shares in the last quarter. 80.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Raymond James reiterated an "outperform" rating and issued a $30.00 target price (down from $33.00) on shares of Southwest Airlines in a research note on Friday, April 26th. HSBC assumed coverage on Southwest Airlines in a report on Monday, May 13th. They issued a "hold" rating and a $27.80 price target on the stock. StockNews.com lowered Southwest Airlines from a "hold" rating to a "sell" rating in a report on Friday, April 12th. Sanford C. Bernstein lowered their target price on shares of Southwest Airlines from $27.00 to $26.00 and set a "market perform" rating on the stock in a research note on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Southwest Airlines from a "hold" rating to a "buy" rating and boosted their price target for the stock from $28.00 to $42.00 in a research note on Tuesday, February 20th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $30.10.

Read Our Latest Stock Analysis on LUV

Southwest Airlines Stock Up 2.8 %

Shares of LUV stock traded up $0.73 during mid-day trading on Friday, reaching $26.84. 8,230,268 shares of the company's stock traded hands, compared to its average volume of 8,067,823. The company has a quick ratio of 1.02, a current ratio of 1.09 and a debt-to-equity ratio of 0.78. The company's 50-day moving average price is $27.81 and its 200-day moving average price is $29.12. The company has a market cap of $16.06 billion, a P/E ratio of 42.60, a P/E/G ratio of 1.44 and a beta of 1.16. Southwest Airlines Co. has a 12 month low of $21.91 and a 12 month high of $39.53.

Southwest Airlines (NYSE:LUV - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The airline reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). Southwest Airlines had a return on equity of 8.91% and a net margin of 1.59%. The business had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same period in the previous year, the firm earned ($0.27) EPS. The company's revenue was up 11.0% on a year-over-year basis. On average, equities analysts expect that Southwest Airlines Co. will post 1.05 earnings per share for the current fiscal year.

Southwest Airlines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Wednesday, June 19th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Tuesday, June 18th. Southwest Airlines's payout ratio is 114.29%.

Southwest Airlines Company Profile

(Free Report)

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.

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