Toronto Dominion Bank Buys 61,053 Shares of Southwest Airlines Co (LUV)

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Toronto Dominion Bank grew its stake in Southwest Airlines Co (NYSE:LUV) by 23.9% during the first quarter, HoldingsChannel.com reports. The firm owned 316,475 shares of the airline’s stock after purchasing an additional 61,053 shares during the quarter. Toronto Dominion Bank’s holdings in Southwest Airlines were worth $16,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cahill Financial Advisors Inc. grew its holdings in Southwest Airlines by 42.7% during the fourth quarter. Cahill Financial Advisors Inc. now owns 11,021 shares of the airline’s stock worth $513,000 after acquiring an additional 3,300 shares during the period. Cypress Capital Group boosted its position in Southwest Airlines by 2.4% during the fourth quarter. Cypress Capital Group now owns 11,471 shares of the airline’s stock worth $533,000 after purchasing an additional 273 shares in the last quarter. Ackerman Capital Advisors LLC boosted its position in Southwest Airlines by 4,145.5% during the fourth quarter. Ackerman Capital Advisors LLC now owns 424,554 shares of the airline’s stock worth $9,290,000 after purchasing an additional 414,554 shares in the last quarter. Enterprise Financial Services Corp boosted its position in Southwest Airlines by 1,620.1% during the first quarter. Enterprise Financial Services Corp now owns 6,846 shares of the airline’s stock worth $355,000 after purchasing an additional 6,448 shares in the last quarter. Finally, Mackay Shields LLC boosted its position in Southwest Airlines by 15.6% during the fourth quarter. Mackay Shields LLC now owns 127,050 shares of the airline’s stock worth $5,905,000 after purchasing an additional 17,191 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:LUV traded up $0.30 on Friday, hitting $52.89. The company had a trading volume of 45,302 shares, compared to its average volume of 3,291,151. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 0.28. Southwest Airlines Co has a 52-week low of $44.28 and a 52-week high of $64.02. The company has a market capitalization of $28.24 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.31 and a beta of 1.49.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, April 25th. The airline reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.09. Southwest Airlines had a return on equity of 23.94% and a net margin of 10.78%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the business earned $0.79 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Southwest Airlines Co will post 4.67 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th will be given a $0.18 dividend. This is an increase from Southwest Airlines’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Tuesday, June 4th. Southwest Airlines’s dividend payout ratio is currently 15.09%.

A number of analysts have commented on LUV shares. Goldman Sachs Group downgraded Southwest Airlines from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $66.00 to $54.00 in a research report on Wednesday, February 20th. ValuEngine downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Raymond James downgraded Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $53.25 target price on the stock. in a research report on Monday, April 8th. Imperial Capital reiterated an “in-line” rating and set a $58.00 target price (down from $60.00) on shares of Southwest Airlines in a research report on Thursday, February 21st. Finally, Cowen reiterated a “market perform” rating and set a $58.00 target price (up from $54.00) on shares of Southwest Airlines in a research report on Friday, January 25th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.64.

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Southwest Airlines Company Profile

Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

Further Reading: Debt-To-Equity Ratio

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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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