According to the most recent Form 13F filed with the SEC, the fund increased its holdings of the airline's stock by 632.3% during the first quarter. The fund now owns 52,866 shares after buying an additional 456,47 shares over the past quarter. Pacer Advisors Inc. held Southwest Airlines shares worth $1,720,000 as of the latest reporting period.
Hedge funds and other institutional investors have recently purchased and sold shares in the company. CoreCap Advisors LLC purchased a stake in Southwest Airlines valued at $32,000 in the fourth quarter. Samalin Investment Counsel LLC increased their holdings in Southwest Airlines in the first quarter by 247.5%. Samalin Investment Counsel LLC owns 702 shares worth $32,000, after purchasing 500 more shares in the last quarter. Proficio Capital Partners LLC purchased a stake in Southwest Airlines valued at approximately $33,000 in the first quarter. First Community Trust NA purchased a new stake of Southwest Airlines during the fourth quarter. The value was about $34,000. New England Capital Financial Advisors LLC also bought a stake in Southwest Airlines during the fourth quarter, valued at approximately $38,000. During Monday's mid-day trading, the stock rose $0.84 to $31.46. Stock of the company traded 8,746,016 compared to an average of 6,847.031. Southwest Airlines Co.'s 1 year low is $28.40, and its 1 year high is $41.76. The company's quick ratio is 1.19, its current ratio is 1.26 and its debt-to equity ratio is 0.78.
The airline reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by $0.06. The airline's ($0.27) per-share earnings for the quarter fell short of analysts' expectations ($0.21) ($0.06). Revenue for the quarter was $5.70 billion, which is lower than analyst expectations of $5.73. Southwest Airlines' net margin was 2.65%, and its return on equity was 6.99%. Southwest Airlines's quarterly revenue was up 21.4% year-over-year. In the same quarter last year, the company had earned $0.32 per share. Analysts predict that Southwest Airlines Co.'s current fiscal year will see 2.62 earnings per shares.
Southwest Airlines Announces Dividend
A quarterly dividend was also declared by the firm, and will be paid out on Wednesday, 12th July. Dividends of $0.18 will be paid to stockholders who were in the books on Wednesday, June 21, 2018. This dividend will be paid on Tuesday, June 20, at the ex-dividend rate. On an annualized base, this dividend represents $0.72 and has a yield of 2.29 percent. Southwest Airlines has a dividend payout rate of 72.00%.
In other news, EVP Ryan C. Green has sold 4,936 of the company's shares in a deal dated May 2nd. The stock was bought at a price of $29.94 on average, for a transaction totaling $147,783.84. After the transaction was completed, the executive vice-president now owns approximately $789.248.34 worth of stock. Insiders own 0.30%.
Analysts set new price targets
Many analysts have made comments on the stock. Melius downgraded Southwest Airlines shares from an "overweight" rating to a "neutral" rating, and set a price target of $39.00 for the company. In a report published on February 15th, Melius downgraded shares of Southwest Airlines from an 'overweight' rating to a 'neutral. Barclays reduced Southwest Airlines' 'overweight rating' to 'equal-weight' and dropped its target price from $42.00 down to $38.00. This was revealed in a report published by Barclays on March 10th. Southwest Airlines was the subject of a research report published on Thursday 18th May. The stock was given a "hold" rating. Nine investment analysts rated the company with a 'hold' rating. Five have given the stock a buy and one has given it a strong-buy rating. According to MarketBeat the stock has a current consensus rating of "Hold" and an average price target of $44.71.
Southwest Airlines Company Profile
Southwest Airlines Co is a company that operates and manages a passenger airline. It also provides ancillary service such as early check-ins, upgraded boarding and transportation for pets and unaccompanied children. The company operates in the United States as well as the Commonwealth of Puerto Rico and Mexico. It also offers services such as upgraded boarding, transportation of pets and unaccompanied minors, and Aruba.
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