Mackenzie Financial Corp Has $13.19 Million Stock Position in Southwest Airlines Co. (NYSE:LUV)

Mackenzie Financial Corp lessened its stake in Southwest Airlines Co. (NYSE:LUV) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 456,800 shares of the airline’s stock after selling 3,340 shares during the quarter. Mackenzie Financial Corp owned approximately 0.08% of Southwest Airlines worth $13,192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Southwest Airlines by 2.0% in the first quarter. Vanguard Group Inc. now owns 63,028,745 shares of the airline’s stock valued at $2,886,717,000 after acquiring an additional 1,213,767 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Southwest Airlines by 39.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,991,802 shares of the airline’s stock valued at $715,615,000 after purchasing an additional 6,244,136 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Southwest Airlines by 7.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 18,213,320 shares of the airline’s stock worth $613,243,000 after purchasing an additional 1,269,782 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in Southwest Airlines by 91,675.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,296,139 shares of the airline’s stock worth $515,021,000 after purchasing an additional 15,279,472 shares during the period. Finally, Geode Capital Management LLC increased its position in Southwest Airlines by 2.9% during the first quarter. Geode Capital Management LLC now owns 12,237,288 shares of the airline’s stock worth $397,599,000 after buying an additional 345,135 shares during the last quarter. 80.82% of the stock is owned by institutional investors.

Southwest Airlines Trading Up 1.1 %

Shares of Southwest Airlines stock opened at $29.38 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Southwest Airlines Co. has a 12-month low of $21.91 and a 12-month high of $39.53. The company has a market capitalization of $17.58 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 1.03 and a beta of 1.15. The firm’s 50-day moving average price is $30.83 and its two-hundred day moving average price is $28.48.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, January 25th. The airline reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.25. Southwest Airlines had a net margin of 1.91% and a return on equity of 9.40%. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.75 billion. During the same quarter last year, the business posted ($0.38) EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts forecast that Southwest Airlines Co. will post 1.49 earnings per share for the current fiscal year.

Southwest Airlines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.72 annualized dividend and a dividend yield of 2.45%. Southwest Airlines’s dividend payout ratio is currently 96.00%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LUV. Susquehanna reduced their target price on Southwest Airlines from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. JPMorgan Chase & Co. upped their price objective on shares of Southwest Airlines from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Jefferies Financial Group raised shares of Southwest Airlines from an “underperform” rating to a “hold” rating and increased their price objective for the company from $20.00 to $28.00 in a research report on Wednesday, March 13th. Sanford C. Bernstein raised shares of Southwest Airlines from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $26.00 to $32.00 in a report on Tuesday, February 20th. Finally, UBS Group initiated coverage on shares of Southwest Airlines in a report on Wednesday, March 20th. They issued a “buy” rating and a $36.00 price target on the stock. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.82.

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.