Family Legacy Inc. Buys New Position in Southwest Airlines Co. (NYSE:LUV)

Family Legacy Inc. bought a new position in shares of Southwest Airlines Co. (NYSE:LUV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,300 shares of the airline’s stock, valued at approximately $207,000.

Several other hedge funds have also made changes to their positions in the business. Kestra Investment Management LLC purchased a new position in shares of Southwest Airlines during the 4th quarter worth about $26,000. Raleigh Capital Management Inc. boosted its holdings in shares of Southwest Airlines by 186.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock valued at $30,000 after purchasing an additional 575 shares during the last quarter. Sanctuary Wealth Management L.L.C. grew its stake in shares of Southwest Airlines by 196.3% during the 4th quarter. Sanctuary Wealth Management L.L.C. now owns 889 shares of the airline’s stock valued at $30,000 after buying an additional 589 shares during the period. TD Private Client Wealth LLC increased its holdings in shares of Southwest Airlines by 41.1% during 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 last quarter. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Southwest Airlines in the 4th quarter worth $42,000. Institutional investors and hedge funds own 80.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LUV shares. Bank of America restated an “underperform” rating and issued a $31.00 price objective (down from $33.00) on shares of Southwest Airlines in a report on Friday, January 17th. Barclays lifted their price target on shares of Southwest Airlines from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Raymond James raised their price objective on Southwest Airlines from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 30th. JPMorgan Chase & Co. lifted their price objective on shares of Southwest Airlines from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Tuesday, March 18th. Finally, Melius Research raised shares of Southwest Airlines from a “sell” rating to a “hold” rating and lifted their price target for the stock from $28.00 to $34.00 in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Southwest Airlines presently has a consensus rating of “Hold” and a consensus target price of $32.54.

Southwest Airlines Price Performance

Shares of NYSE LUV opened at $33.58 on Monday. Southwest Airlines Co. has a 1-year low of $23.58 and a 1-year high of $36.12. The firm has a market capitalization of $19.90 billion, a PE ratio of 46.63, a P/E/G ratio of 0.97 and a beta of 1.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.85. The business’s fifty day moving average price is $31.33 and its two-hundred day moving average price is $31.56.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. Southwest Airlines had a net margin of 1.69% and a return on equity of 5.77%. On average, research analysts expect that Southwest Airlines Co. will post 1.55 EPS for the current year.

Southwest Airlines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, March 12th. Southwest Airlines’s dividend payout ratio (DPR) is 100.00%.

Insider Activity at Southwest Airlines

In other Southwest Airlines news, Director C. David Cush purchased 5,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought 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 owns 19,011 shares of the company’s stock, valued at approximately $570,900.33. This trade represents a 35.69 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

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.