Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Southwest Airlines Co (NYSE:LUV) by 16.6% during the 4th quarter, HoldingsChannel reports. The fund owned 46,004 shares of the airline’s stock after purchasing an additional 6,547 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Southwest Airlines were worth $3,011,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. BB&T Investment Services Inc. boosted its stake in shares of Southwest Airlines by 325.5% during the 3rd quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock worth $110,000 after acquiring an additional 1,211 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of Southwest Airlines during the 4th quarter worth about $127,000. Grove Bank & Trust boosted its stake in shares of Southwest Airlines by 365.0% during the 3rd quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock worth $134,000 after acquiring an additional 1,880 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Southwest Airlines by 580.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,607 shares of the airline’s stock worth $170,000 after acquiring an additional 2,224 shares in the last quarter. Finally, Asset Dedication LLC purchased a new stake in shares of Southwest Airlines during the 4th quarter worth about $191,000. 78.24% of the stock is currently owned by institutional investors and hedge funds.
Southwest Airlines Co (LUV) opened at $55.50 on Friday. The firm has a market cap of $32,707.71, a PE ratio of 9.54, a P/E/G ratio of 1.00 and a beta of 1.17. Southwest Airlines Co has a 12 month low of $49.76 and a 12 month high of $66.99. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.45.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Tuesday, March 6th. Southwest Airlines’s dividend payout ratio is presently 8.59%.
In other Southwest Airlines news, Director John T. Montford sold 1,695 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $63.27, for a total value of $107,242.65. Following the transaction, the director now directly owns 23,098 shares of the company’s stock, valued at approximately $1,461,410.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert E. Jordan sold 32,931 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $64.38, for a total transaction of $2,120,097.78. Following the completion of the transaction, the executive vice president now directly owns 76,993 shares in the company, valued at $4,956,809.34. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.
LUV has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Southwest Airlines from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Deutsche Bank reissued a “buy” rating and set a $71.00 target price on shares of Southwest Airlines in a research note on Friday, October 27th. Stifel Nicolaus reissued a “buy” rating and set a $85.00 target price (up from $80.00) on shares of Southwest Airlines in a research note on Wednesday, January 10th. Vetr raised shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $65.81 target price on the stock in a research note on Monday, January 1st. Finally, JPMorgan Chase & Co. lowered shares of Southwest Airlines from an “overweight” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $67.97.
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About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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