Mizuho Markets Americas LLC acquired a new stake in shares of Southwest Airlines Co. (NYSE:LUV – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,338,500 shares of the airline’s stock, valued at approximately $55,320,000. Southwest Airlines accounts for about 1.1% of Mizuho Markets Americas LLC’s investment portfolio, making the stock its 20th largest position. Mizuho Markets Americas LLC owned approximately 0.26% of Southwest Airlines as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Advisory Alpha LLC purchased a new position in Southwest Airlines in the 4th quarter valued at about $207,000. Global Retirement Partners LLC increased its position in shares of Southwest Airlines by 30.7% during the fourth quarter. Global Retirement Partners LLC now owns 6,802 shares of the airline’s stock worth $281,000 after acquiring an additional 1,596 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Southwest Airlines in the fourth quarter worth about $208,000. PNC Financial Services Group Inc. lifted its stake in shares of Southwest Airlines by 2.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 72,448 shares of the airline’s stock worth $2,994,000 after acquiring an additional 1,401 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in Southwest Airlines by 24.1% in the fourth quarter. Handelsbanken Fonder AB now owns 184,350 shares of the airline’s stock valued at $7,619,000 after purchasing an additional 35,765 shares during the last quarter. 80.82% of the stock is owned by institutional investors and hedge funds.
Southwest Airlines Price Performance
Shares of LUV opened at $40.85 on Friday. Southwest Airlines Co. has a 52 week low of $28.98 and a 52 week high of $55.11. The company has a current ratio of 0.48, a quick ratio of 0.41 and a debt-to-equity ratio of 0.66. The firm has a market cap of $19.96 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 0.45 and a beta of 1.12. The stock has a 50 day moving average of $39.47 and a 200-day moving average of $41.13.
Southwest Airlines Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, June 11th. Southwest Airlines’s dividend payout ratio is 46.45%.
Wall Street Analysts Forecast Growth
LUV has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their price objective on Southwest Airlines from $42.00 to $37.00 and set a “hold” rating for the company in a research note on Monday, April 27th. Morgan Stanley increased their target price on Southwest Airlines from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. BNP Paribas Exane raised their price target on shares of Southwest Airlines from $24.00 to $33.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 21st. Bank of America dropped their price target on shares of Southwest Airlines from $42.00 to $40.00 and set an “underperform” rating for the company in a research note on Wednesday, April 1st. Finally, Evercore upped their price target on shares of Southwest Airlines from $43.00 to $44.00 in a report on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.11.
Get Our Latest Stock Analysis on LUV
Southwest Airlines Company Profile
Southwest Airlines Co is a U.S.-based low-cost carrier that operates a point-to-point domestic and near-international airline network. Headquartered in Dallas, Texas, the company primarily flies Boeing 737 aircraft and offers no-frills, single-class service designed to keep fares competitive. Southwest’s operating model emphasizes high aircraft utilization, quick turnaround times and an open seating policy, allowing customers to board and select seats on a first-come, first-served basis.
Founded in 1967 by Herb Kelleher and Rollin King as Air Southwest Company, Southwest began commercial service in 1971, initially connecting Dallas, Houston and San Antonio.
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