Geode Capital Management LLC Sells 159,864 Shares of Southwest Airlines Co. (NYSE:LUV)

Geode Capital Management LLC cut its stake in shares of Southwest Airlines Co. (NYSE:LUV - Free Report) by 1.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,832,575 shares of the airline's stock after selling 159,864 shares during the period. Geode Capital Management LLC owned about 2.31% of Southwest Airlines worth $409,001,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Olstein Capital Management L.P. grew its holdings in shares of Southwest Airlines by 33.7% during the 3rd quarter. Olstein Capital Management L.P. now owns 258,000 shares of the airline's stock valued at $7,645,000 after acquiring an additional 65,000 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Southwest Airlines during the second quarter valued at $609,000. Mizuho Securities USA LLC grew its stake in Southwest Airlines by 6,414.5% in the third quarter. Mizuho Securities USA LLC now owns 3,006,000 shares of the airline's stock valued at $89,068,000 after purchasing an additional 2,959,857 shares in the last quarter. Highland Peak Capital LLC acquired a new position in Southwest Airlines in the 3rd quarter worth about $2,963,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Southwest Airlines during the 3rd quarter worth about $1,751,000. Institutional investors and hedge funds own 80.82% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Elliott Investment Management sold 1,203,920 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $29.83, for a total transaction of $35,912,933.60. Following the completion of the transaction, the insider now owns 59,912,580 shares in the company, valued at $1,787,192,261.40. This trade represents a 1.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Linda B. Rutherford sold 3,849 shares of the company's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $34.40, for a total value of $132,405.60. Following the completion of the sale, the insider now owns 89,376 shares in the company, valued at $3,074,534.40. This trade represents a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

Southwest Airlines Stock Performance

Shares of Southwest Airlines stock traded down $0.21 during midday trading on Friday, hitting $33.02. The company had a trading volume of 5,863,951 shares, compared to its average volume of 9,076,443. Southwest Airlines Co. has a 1-year low of $23.58 and a 1-year high of $36.12. The business's 50 day simple moving average is $31.71 and its two-hundred day simple moving average is $29.24. The stock has a market cap of $19.80 billion, a PE ratio of -471.71, a P/E/G ratio of 7.66 and a beta of 1.16. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.88 and a quick ratio of 0.83.

Southwest Airlines (NYSE:LUV - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The airline reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.10. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.77 billion. Southwest Airlines had a negative net margin of 0.06% and a positive return on equity of 4.56%. The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. As a group, equities analysts predict that Southwest Airlines Co. will post 0.76 EPS for the current fiscal year.

Southwest Airlines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, December 26th will be issued a $0.18 dividend. The ex-dividend date is Thursday, December 26th. This represents a $0.72 annualized dividend and a yield of 2.18%. Southwest Airlines's dividend payout ratio (DPR) is -1,028.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. The Goldman Sachs Group reissued a "sell" rating and issued a $28.00 price target on shares of Southwest Airlines in a research note on Friday, November 15th. TD Cowen boosted their target price on shares of Southwest Airlines from $25.00 to $28.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. UBS Group restated a "sell" rating and set a $27.00 price target on shares of Southwest Airlines in a report on Tuesday, November 26th. BNP Paribas raised shares of Southwest Airlines to a "strong sell" rating in a research note on Thursday, September 19th. Finally, Bank of America assumed coverage on shares of Southwest Airlines in a research report on Monday, November 4th. They set a "neutral" rating and a $33.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Southwest Airlines has an average rating of "Hold" and a consensus price target of $31.37.

Southwest Airlines Profile

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.