Bedell Frazier Investment Counseling LLC raised its position in Southwest Airlines Co. (NYSE:LUV – Get Rating) by 56.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 191,873 shares of the airline's stock after acquiring an additional 69,192 shares during the quarter. Southwest Airlines makes up about 2.2% of Bedell Frazier Investment Counseling LLC's holdings, making the stock its 12th biggest holding. Bedell Frazier Investment Counseling LLC's holdings in Southwest Airlines were worth $8,788,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Archer Investment Corp acquired a new position in Southwest Airlines in the 4th quarter valued at about $25,000. CarsonAllaria Wealth Management Ltd. bought a new position in Southwest Airlines during the fourth quarter worth $26,000. Atticus Wealth Management LLC increased its position in Southwest Airlines by 78.9% in the first quarter. Atticus Wealth Management LLC now owns 567 shares of the airline's stock worth $26,000 after buying an additional 250 shares during the period. Cornerstone Advisory LLC acquired a new position in shares of Southwest Airlines during the fourth quarter valued at $27,000. Finally, Manchester Capital Management LLC acquired a new position in Southwest Airlines during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 76.74% of the company's stock.
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Insider Buying and Selling
In other Southwest Airlines news, Director John T. Montford sold 2,300 shares of the business's stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $45.70, for a total transaction of $105,110.00. Following the completion of the sale, the director now directly owns 23,296 shares of the company's stock, valued at approximately $1,064,627.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut their price target on Southwest Airlines from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, August 2nd. Barclays reduced their price objective on Southwest Airlines from $58.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, June 23rd. JPMorgan Chase & Co. boosted their target price on Southwest Airlines from $62.00 to $72.00 in a research report on Friday, April 29th. Raymond James upgraded Southwest Airlines from an "outperform" rating to a "strong-buy" rating and dropped their target price for the stock from $57.00 to $55.00 in a research report on Thursday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $60.00 target price on shares of Southwest Airlines in a research report on Friday, April 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Southwest Airlines has a consensus rating of "Moderate Buy" and a consensus target price of $53.06.
Southwest Airlines Trading Up 2.8 %
Shares of NYSE LUV traded up $1.09 during trading on Wednesday, reaching $39.43. The company had a trading volume of 173,923 shares, compared to its average volume of 6,837,989. The company's fifty day moving average price is $38.79 and its 200-day moving average price is $42.40. Southwest Airlines Co. has a 12 month low of $34.36 and a 12 month high of $56.33. The stock has a market cap of $23.40 billion, a P/E ratio of 24.42, a PEG ratio of 2.67 and a beta of 1.00. The company has a quick ratio of 1.59, a current ratio of 1.66 and a debt-to-equity ratio of 0.80.
Southwest Airlines (NYSE:LUV – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The airline reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.39. Southwest Airlines had a return on equity of 5.54% and a net margin of 4.71%. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.69 billion. During the same period in the prior year, the business earned ($0.35) EPS. The firm's revenue for the quarter was up 67.9% on a year-over-year basis. As a group, research analysts expect that Southwest Airlines Co. will post 2.43 earnings per share for the current year.
Southwest Airlines Profile
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Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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