Primecap Management Coca buys $3,084 Million stake in Southwest Airlines Co (LUV)

Southwest Airlines Co (LUV) : Primecap Management Coca scooped up 117,900 additional shares in Southwest Airlines Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 74,206,258 shares of Southwest Airlines Co which is valued at $3,084 Million.Southwest Airlines Co makes up approximately 3.46% of Primecap Management Coca’s portfolio.

Other Hedge Funds, Including , Pegasus Partners Ltd. boosted its stake in LUV in the latest quarter, The investment management firm added 19,340 additional shares and now holds a total of 36,660 shares of Southwest Airlines Co which is valued at $1.5 Million. Southwest Airlines Co makes up approx 0.84% of Pegasus Partners Ltd.’s portfolio.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in LUV in the latest quarter, The investment management firm added 108 additional shares and now holds a total of 16,409 shares of Southwest Airlines Co which is valued at $681,958. Southwest Airlines Co makes up approx 0.02% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.First Heartland Consultants boosted its stake in LUV in the latest quarter, The investment management firm added 82 additional shares and now holds a total of 15,862 shares of Southwest Airlines Co which is valued at $659,225. Southwest Airlines Co makes up approx 0.25% of First Heartland Consultants’s portfolio.First Washington Corp reduced its stake in LUV by selling 14,100 shares or 23.33% in the most recent quarter. The Hedge Fund company now holds 46,350 shares of LUV which is valued at $1.9 Million. Southwest Airlines Co makes up approx 1.16% of First Washington Corp’s portfolio.

Southwest Airlines Co opened for trading at $42.34 and hit $42.985 on the upside on Friday, eventually ending the session at $42.19, with a gain of 0.05% or 0.02 points. The heightened volatility saw the trading volume jump to 41,95,085 shares. Company has a market cap of $26,946 M.

On the company’s financial health, Southwest Airlines Co reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.84. The company had revenue of $4826.00 million for the quarter, compared to analysts expectations of $4804.75 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on Southwest Airlines Co. Company shares were Upgraded by Barclays on Apr 15, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 48 from a previous price target of $41 .

Southwest Airlines Co. operates Southwest Airlines (Southwest). Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves around 93 destinations in 40 states and runs international services to Montego Bay Nassau Oranjestad Cabo San Lucas/Los Cabos Cancun Mexico City and Punta Cana. It serves around 17 non-stop destinations and 581 non-stop city pairs. It operates around 665 Boeing 737 aircrafts. It provides several products such as Business Select Fly By Priority Lanes and SWABIZ. Its Website southwest.com enables purchasing and managing travel online. It offers southwest.com and swabiz.com in a translated Spanish version. Southwest provides inflight satellite-based wireless fidelity (Wi-Fi) service and live television. Its service offerings include EarlyBird Check-In Pets Are Welcome on Southwest (P.A.W.S.) products Automated Outbound Messaging (AOM) service and southwest.com/rebook.

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