2,536,050 Shares in Southwest Airlines Co. (NYSE:LUV) Purchased by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT acquired a new stake in shares of Southwest Airlines Co. (NYSE:LUV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,536,050 shares of the airline's stock, valued at approximately $85,262,000. Southwest Airlines accounts for about 2.8% of Sound Shore Management Inc. CT's investment portfolio, making the stock its 14th biggest holding. Sound Shore Management Inc. CT owned approximately 0.42% of Southwest Airlines at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new stake in shares of Southwest Airlines during the fourth quarter valued at approximately $26,000. Raleigh Capital Management Inc. boosted its holdings in shares of Southwest Airlines by 186.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline's stock valued at $30,000 after buying an additional 575 shares in the last quarter. TD Private Client Wealth LLC grew its position in shares of Southwest Airlines by 41.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline's stock worth $35,000 after buying an additional 345 shares during the period. VSM Wealth Advisory LLC purchased a new stake in shares of Southwest Airlines in the 4th quarter worth about $42,000. Finally, Millstone Evans Group LLC bought a new position in shares of Southwest Airlines in the 4th quarter worth about $53,000. 80.82% of the stock is currently owned by institutional investors.

Insider Activity

In other Southwest Airlines news, Director C. David Cush purchased 5,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $30.03 per share, with a total value of $150,150.00. Following the completion of the acquisition, the director now directly 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.33% of the company's stock.

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Southwest Airlines Stock Performance

Southwest Airlines stock traded down $0.17 during trading on Tuesday, reaching $34.67. The company had a trading volume of 9,623,464 shares, compared to its average volume of 9,133,266. The firm's 50-day simple moving average is $31.23 and its 200 day simple moving average is $31.46. Southwest Airlines Co. has a 52 week low of $23.58 and a 52 week high of $36.12. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $20.55 billion, a price-to-earnings ratio of 48.15, a price-to-earnings-growth ratio of 0.97 and a beta of 1.10.

Southwest Airlines (NYSE:LUV - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 EPS 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%. Sell-side analysts forecast that Southwest Airlines Co. will post 1.55 earnings per share for the current fiscal year.

Southwest Airlines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.08%. Southwest Airlines's payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group upgraded shares of Southwest Airlines from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $29.00 to $36.00 in a report on Thursday, March 20th. Barclays upped their price target on Southwest Airlines from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. TD Cowen lifted their price objective on Southwest Airlines from $25.00 to $28.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Melius raised Southwest Airlines from a "sell" rating to a "hold" rating in a research note on Thursday, March 20th. Finally, Raymond James upped their price target on shares of Southwest Airlines from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, December 30th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $32.52.

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.