CIBC Private Wealth Group LLC increased its stake in shares of Southwest Airlines Co (NYSE:LUV) by 11.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,533 shares of the airline’s stock after purchasing an additional 3,948 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Southwest Airlines were worth $2,081,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of LUV. Sterling Investment Advisors Ltd. acquired a new stake in Southwest Airlines in the third quarter valued at $26,000. Global Wealth Management Investment Advisory Inc. lifted its holdings in Southwest Airlines by 242.8% in the second quarter. Global Wealth Management Investment Advisory Inc. now owns 713 shares of the airline’s stock valued at $36,000 after acquiring an additional 505 shares during the period. American National Bank acquired a new stake in Southwest Airlines in the third quarter valued at $54,000. Doyle Wealth Management acquired a new stake in Southwest Airlines in the second quarter valued at $58,000. Finally, Westside Investment Management Inc. acquired a new stake in Southwest Airlines in the second quarter valued at $60,000. 82.08% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on LUV. Berenberg Bank began coverage on Southwest Airlines in a report on Friday, September 6th. They issued a “hold” rating and a $57.00 target price for the company. Cowen reissued a “market perform” rating and issued a $57.00 target price (up previously from $55.00) on shares of Southwest Airlines in a report on Friday, July 26th. Wolfe Research raised Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Friday, August 16th. Tigress Financial reissued a “buy” rating on shares of Southwest Airlines in a report on Thursday, September 26th. Finally, Macquarie raised Southwest Airlines from a “neutral” rating to an “outperform” rating and set a $67.00 target price for the company in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $57.95.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.02. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.94 billion. Southwest Airlines had a return on equity of 24.12% and a net margin of 10.73%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 EPS. As a group, equities analysts anticipate that Southwest Airlines Co will post 4.27 earnings per share for the current year.
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.
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