CIBC Asset Management Inc Raises Stake in Southwest Airlines Co. (NYSE:LUV)

CIBC Asset Management Inc boosted its position in Southwest Airlines Co. (NYSE:LUV) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,467 shares of the airline’s stock after buying an additional 4,105 shares during the quarter. CIBC Asset Management Inc’s holdings in Southwest Airlines were worth $3,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of LUV. Raleigh Capital Management Inc. boosted its stake in Southwest Airlines by 186.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock worth $30,000 after buying an additional 575 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Southwest Airlines in the third quarter worth approximately $33,000. TD Private Client Wealth LLC boosted its stake in Southwest Airlines by 41.1% in the third 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 in the last quarter. New England Capital Financial Advisors LLC boosted its stake in shares of Southwest Airlines by 35.3% during the third quarter. New England Capital Financial Advisors LLC now owns 1,923 shares of the airline’s stock valued at $57,000 after purchasing an additional 502 shares during the period. Finally, JFS Wealth Advisors LLC boosted its stake in shares of Southwest Airlines by 120.9% during the third quarter. JFS Wealth Advisors LLC now owns 2,001 shares of the airline’s stock valued at $59,000 after purchasing an additional 1,095 shares during the period. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Insider Activity

In other news, insider Linda B. Rutherford sold 3,849 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $34.40, for a total transaction of $132,405.60. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Southwest Airlines Price Performance

LUV opened at $30.55 on Friday. The stock has a fifty day simple moving average of $32.17 and a two-hundred day simple moving average of $30.74. 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 company has a market cap of $18.10 billion, a price-to-earnings ratio of 42.42, a price-to-earnings-growth ratio of 0.95 and a beta of 1.14. Southwest Airlines Co. has a 12-month low of $23.58 and a 12-month high of $36.12.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. Research analysts predict that Southwest Airlines Co. will post 1.55 earnings per share for the current fiscal year.

Southwest Airlines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.72 annualized dividend and a dividend yield of 2.36%. Southwest Airlines’s payout ratio is presently 100.00%.

Analyst Ratings Changes

A number of research firms have recently weighed in on LUV. The Goldman Sachs Group reissued a “sell” rating and set a $28.00 price objective on shares of Southwest Airlines in a research note on Friday, November 15th. Citigroup reissued a “sell” rating and set a $29.50 price objective (down previously from $31.50) on shares of Southwest Airlines in a research note on Thursday, January 16th. Argus raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Tuesday, February 11th. UBS Group increased their price objective on Southwest Airlines from $27.00 to $29.00 and gave the company a “sell” rating in a research note on Tuesday, January 7th. Finally, StockNews.com raised Southwest Airlines from a “sell” rating to a “hold” rating in a research note on Monday, October 28th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Southwest Airlines has an average rating of “Hold” and an average target price of $31.78.

Southwest Airlines Company 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.