Nuveen Asset Management LLC cut its stake in shares of Cable One, Inc. (NYSE:CABO) by 22.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,401 shares of the company’s stock after selling 417 shares during the period. Nuveen Asset Management LLC’s holdings in Cable One were worth $875,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of CABO. BlackRock Inc. increased its stake in shares of Cable One by 6,855.3% in the first quarter. BlackRock Inc. now owns 439,785 shares of the company’s stock valued at $274,634,000 after buying an additional 433,462 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Cable One by 6.0% in the first quarter. Vanguard Group Inc. now owns 375,043 shares of the company’s stock valued at $234,203,000 after buying an additional 21,111 shares during the last quarter. State Street Corp increased its stake in shares of Cable One by 2.0% in the first quarter. State Street Corp now owns 126,304 shares of the company’s stock valued at $78,863,000 after buying an additional 2,479 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in shares of Cable One by 4.8% in the first quarter. TimesSquare Capital Management LLC now owns 113,674 shares of the company’s stock valued at $70,986,000 after buying an additional 5,208 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Cable One by 6.5% in the first quarter. William Blair Investment Management LLC now owns 75,837 shares of the company’s stock valued at $47,358,000 after buying an additional 4,657 shares during the last quarter. 74.14% of the stock is owned by hedge funds and other institutional investors.
Shares of Cable One, Inc. (NYSE:CABO) opened at 735.60 on Friday. Cable One, Inc. has a 12 month low of $527.75 and a 12 month high of $788.00. The company has a market cap of $4.21 billion, a P/E ratio of 39.50 and a beta of 0.30. The stock’s 50 day moving average is $736.62 and its 200 day moving average is $680.13.
Cable One (NYSE:CABO) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $4.97 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.10 by $0.13. The firm had revenue of $241 million during the quarter, compared to analyst estimates of $247.02 million. Cable One had a return on equity of 22.83% and a net margin of 12.44%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.62 EPS. On average, analysts anticipate that Cable One, Inc. will post $20.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a $1.75 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $7.00 annualized dividend and a dividend yield of 0.95%. This is a positive change from Cable One’s previous quarterly dividend of $1.50. Cable One’s payout ratio is currently 32.21%.
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CABO has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Cable One from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 4th. Raymond James Financial, Inc. upped their target price on shares of Cable One from $785.00 to $815.00 and gave the company an “outperform” rating in a research note on Wednesday. SunTrust Banks, Inc. initiated coverage on shares of Cable One in a research note on Tuesday, April 18th. They issued a “buy” rating and a $715.00 target price for the company. BidaskClub downgraded shares of Cable One from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, TheStreet raised shares of Cable One from a “c” rating to a “b-” rating in a research note on Monday, June 12th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $693.75.
In other news, SVP Eric Michael Lardy sold 322 shares of Cable One stock in a transaction on Friday, June 16th. The shares were sold at an average price of $725.00, for a total value of $233,450.00. Following the completion of the sale, the senior vice president now owns 2,542 shares in the company, valued at approximately $1,842,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Donald Graham acquired 24,561 shares of the stock in a transaction dated Monday, July 24th. The stock was bought at an average price of $742.52 per share, with a total value of $18,237,033.72. Following the purchase, the insider now directly owns 271,546 shares in the company, valued at $201,628,335.92. The disclosure for this purchase can be found here. Insiders sold a total of 9,022 shares of company stock valued at $6,483,807 in the last quarter. 1.30% of the stock is currently owned by company insiders.
Cable One Company Profile
Cable One, Inc is a provider of data, video and voice services. The Company offers products, including Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. As of May 1, 2017, the Company provided data, video and voice services in 21 Western, Midwestern and Southern states.
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