Southwest Airlines Co. (NYSE:LUV) Director C. David Cush Purchases 5,000 Shares of Stock

Southwest Airlines Co. (NYSE:LUV) Director C. David Cush purchased 5,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $30.03 per share, with a total value of $150,150.00. Following the transaction, the director now owns 19,011 shares in the company, valued at $570,900.33. The trade was a 35.69 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Southwest Airlines Stock Performance

NYSE LUV opened at $31.74 on Friday. The stock has a market cap of $18.81 billion, a price-to-earnings ratio of 44.08, a price-to-earnings-growth ratio of 0.97 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. Southwest Airlines Co. has a fifty-two week low of $23.58 and a fifty-two week high of $36.12. The business has a fifty day moving average of $31.12 and a 200-day moving average of $31.21.

Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, January 30th. The airline reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.11. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. As a group, analysts predict that Southwest Airlines Co. will post 1.55 earnings per share for the current fiscal year.

Southwest Airlines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.27%. The ex-dividend date is Wednesday, March 12th. Southwest Airlines’s payout ratio is currently 100.00%.

Hedge Funds Weigh In On Southwest Airlines

Several institutional investors have recently made changes to their positions in the stock. Kestra Investment Management LLC acquired a new stake in shares of Southwest Airlines during the 4th quarter valued at $26,000. Raleigh Capital Management Inc. grew its position in shares of Southwest Airlines by 186.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock valued at $30,000 after purchasing an additional 575 shares during the last quarter. Sanctuary Wealth Management L.L.C. grew its position in shares of Southwest Airlines by 196.3% in the fourth quarter. Sanctuary Wealth Management L.L.C. now owns 889 shares of the airline’s stock valued at $30,000 after purchasing an additional 589 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Southwest Airlines in the third quarter valued at about $33,000. Finally, TD Private Client Wealth LLC lifted its stake in Southwest Airlines by 41.1% during the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock worth $35,000 after purchasing an additional 345 shares during the period. 80.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LUV shares. The Goldman Sachs Group reaffirmed a “sell” rating and set a $28.00 price target on shares of Southwest Airlines in a research report on Friday, November 15th. Citigroup reiterated a “sell” rating and set a $29.50 price objective (down from $31.50) on shares of Southwest Airlines in a research note on Thursday, January 16th. Argus upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Tuesday, February 11th. Raymond James boosted their price objective on Southwest Airlines from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. Finally, Bank of America restated an “underperform” rating and issued a $31.00 price target (down from $33.00) on shares of Southwest Airlines in a research note on Friday, January 17th. Seven investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.72.

About Southwest Airlines

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.