New York State Common Retirement Fund Sells 3,313,021 Shares of Southwest Airlines Co. (NYSE:LUV)

New York State Common Retirement Fund reduced its holdings in Southwest Airlines Co. (NYSE:LUV - Free Report) by 90.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 368,322 shares of the airline's stock after selling 3,313,021 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of Southwest Airlines worth $10,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LUV. Fort Washington Investment Advisors Inc. OH increased its position in Southwest Airlines by 106.5% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 2,556,536 shares of the airline's stock valued at $69,205,000 after acquiring an additional 1,318,361 shares during the period. U S Global Investors Inc. increased its position in Southwest Airlines by 24.9% in the 4th quarter. U S Global Investors Inc. now owns 6,210,347 shares of the airline's stock valued at $179,355,000 after acquiring an additional 1,238,468 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in Southwest Airlines in the 3rd quarter valued at approximately $13,193,000. Great Lakes Advisors LLC increased its position in Southwest Airlines by 34.9% in the 3rd quarter. Great Lakes Advisors LLC now owns 1,619,499 shares of the airline's stock valued at $43,840,000 after acquiring an additional 418,624 shares during the period. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in Southwest Airlines in the 4th quarter valued at approximately $10,277,000. 80.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. TD Cowen decreased their price target on shares of Southwest Airlines from $26.00 to $25.00 and set a "hold" rating for the company in a research report on Friday, April 26th. Raymond James reiterated an "outperform" rating and set a $30.00 price objective (down from $33.00) on shares of Southwest Airlines in a research report on Friday, April 26th. Barclays decreased their price objective on shares of Southwest Airlines from $30.00 to $26.00 and set an "equal weight" rating for the company in a research report on Friday, April 26th. 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 research report on Friday, April 5th. Finally, Susquehanna decreased their price objective on shares of Southwest Airlines from $27.00 to $25.00 and set a "neutral" rating for the company in a research report on Tuesday. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Southwest Airlines currently has an average rating of "Hold" and an average target price of $30.59.

Southwest Airlines Stock Down 1.1 %

Shares of NYSE LUV traded down $0.28 during mid-day trading on Wednesday, reaching $25.66. 12,615,231 shares of the company's stock traded hands, compared to its average volume of 8,973,370. The stock has a market cap of $15.36 billion, a P/E ratio of 41.17, a PEG ratio of 1.28 and a beta of 1.15. The business has a 50-day simple moving average of $30.04 and a 200 day simple moving average of $28.58. Southwest Airlines Co. has a 1-year low of $21.91 and a 1-year high of $39.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.09 and a quick ratio of 1.02.

Southwest Airlines (NYSE:LUV - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The airline reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.02). The business had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.42 billion. Southwest Airlines had a net margin of 1.59% and a return on equity of 8.91%. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.27) earnings per share. On average, analysts expect that Southwest Airlines Co. will post 1.18 EPS for the current fiscal year.

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.