New York Life Investment Management LLC Sells 509 Shares of Southwest Airlines Co. (NYSE:LUV)

New York Life Investment Management LLC lowered its stake in Southwest Airlines Co. (NYSE:LUV) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 82,898 shares of the airline’s stock after selling 509 shares during the quarter. New York Life Investment Management LLC’s holdings in Southwest Airlines were worth $2,394,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. IFM Investors Pty Ltd increased its position in Southwest Airlines by 11.9% during the third quarter. IFM Investors Pty Ltd now owns 26,568 shares of the airline’s stock worth $719,000 after buying an additional 2,828 shares during the last quarter. Advisor Partners II LLC grew its position in shares of Southwest Airlines by 11.2% in the third quarter. Advisor Partners II LLC now owns 11,540 shares of the airline’s stock valued at $312,000 after purchasing an additional 1,160 shares during the last quarter. CENTRAL TRUST Co grew its position in shares of Southwest Airlines by 26.8% in the third quarter. CENTRAL TRUST Co now owns 12,216 shares of the airline’s stock valued at $331,000 after purchasing an additional 2,580 shares during the last quarter. Gradient Investments LLC grew its position in shares of Southwest Airlines by 6.4% in the third quarter. Gradient Investments LLC now owns 274,594 shares of the airline’s stock valued at $7,433,000 after purchasing an additional 16,599 shares during the last quarter. Finally, ING Groep NV acquired a new position in shares of Southwest Airlines in the third quarter valued at approximately $75,000. Institutional investors and hedge funds own 80.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on LUV. Susquehanna decreased their target price on Southwest Airlines from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. StockNews.com downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Raymond James reaffirmed an “outperform” rating and issued a $30.00 target price (down previously from $33.00) on shares of Southwest Airlines in a research report on Friday, April 26th. TD Cowen cut their price target on Southwest Airlines from $26.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Finally, Morgan Stanley cut their price target on Southwest Airlines from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, April 5th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.59.

Southwest Airlines Stock Down 1.0 %

NYSE LUV opened at $26.15 on Monday. Southwest Airlines Co. has a fifty-two week low of $21.91 and a fifty-two week high of $39.53. The stock has a market capitalization of $15.65 billion, a PE ratio of 41.51, a PEG ratio of 1.37 and a beta of 1.16. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.09 and a quick ratio of 1.02. The business has a fifty day moving average price of $29.56 and a two-hundred day moving average price of $28.59.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, April 25th. The airline reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The firm had revenue of $6.33 billion during the quarter, compared to the consensus estimate of $6.42 billion. Southwest Airlines had a net margin of 1.59% and a return on equity of 8.91%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.27) earnings per share. Equities analysts expect that Southwest Airlines Co. will post 1.07 earnings per share for the current fiscal year.

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.