Chevy Chase Trust Holdings LLC Has $9.75 Million Stake in Southwest Airlines Co. (NYSE:LUV)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Southwest Airlines Co. (NYSE:LUV) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 337,496 shares of the airline’s stock after selling 2,062 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of Southwest Airlines worth $9,747,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Samalin Investment Counsel LLC grew its position in shares of Southwest Airlines by 247.5% during the 1st quarter. Samalin Investment Counsel LLC now owns 702 shares of the airline’s stock worth $32,000 after buying an additional 500 shares during the period. Pacific Center for Financial Services acquired a new stake in shares of Southwest Airlines during the 1st quarter worth approximately $33,000. UniSuper Management Pty Ltd acquired a new stake in shares of Southwest Airlines during the 2nd quarter worth approximately $36,000. True Wealth Design LLC acquired a new position in Southwest Airlines during the fourth quarter valued at approximately $38,000. Finally, Tyler Stone Wealth Management acquired a new position in Southwest Airlines during the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 80.82% of the company’s stock.

Analyst Ratings Changes

LUV has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of Southwest Airlines from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Friday. Sanford C. Bernstein upgraded shares of Southwest Airlines from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $26.00 to $32.00 in a report on Tuesday, February 20th. Evercore ISI restated an “inline” rating and set a $35.00 price objective on shares of Southwest Airlines in a report on Tuesday, January 2nd. Argus upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Tuesday, March 12th. Finally, Morgan Stanley decreased their price objective on shares of Southwest Airlines from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.59.

Southwest Airlines Stock Performance

NYSE LUV opened at $28.65 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. The firm’s fifty day moving average price is $31.25 and its two-hundred day moving average price is $28.42. Southwest Airlines Co. has a 1 year low of $21.91 and a 1 year high of $39.53. The firm has a market capitalization of $17.09 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 0.93 and a beta of 1.15.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, January 25th. The airline reported $0.37 EPS for the quarter, beating 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 firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.75 billion. During the same period in the previous year, the company earned ($0.38) earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, research analysts anticipate that Southwest Airlines Co. will post 1.65 EPS for the current year.

Southwest Airlines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.72 annualized dividend and a dividend yield of 2.51%. Southwest Airlines’s dividend payout ratio is currently 96.00%.

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.