Teacher Retirement System of Texas increased its holdings in shares of Cable ONE, Inc. (NYSE:CABO) by 588.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,355 shares of the company’s stock after purchasing an additional 2,013 shares during the period. Teacher Retirement System of Texas’ holdings in Cable ONE were worth $1,701,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CABO. Victory Capital Management Inc. lifted its stake in shares of Cable ONE by 28.3% in the 2nd quarter. Victory Capital Management Inc. now owns 163 shares of the company’s stock worth $116,000 after acquiring an additional 36 shares during the period. US Bancorp DE lifted its stake in shares of Cable ONE by 19.6% in the second quarter. US Bancorp DE now owns 275 shares of the company’s stock valued at $196,000 after purchasing an additional 45 shares during the period. Palisade Asset Management LLC acquired a new stake in shares of Cable ONE in the third quarter valued at about $202,000. Virtu KCG Holdings LLC acquired a new stake in shares of Cable ONE in the second quarter valued at about $209,000. Finally, Stonebridge Capital Management Inc. acquired a new stake in shares of Cable ONE in the second quarter valued at about $213,000. Hedge funds and other institutional investors own 71.85% of the company’s stock.
Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Cable ONE from a “hold” rating to a “buy” rating and set a $837.00 price objective for the company in a research note on Thursday, August 10th. BidaskClub downgraded shares of Cable ONE from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. SunTrust Banks, Inc. restated a “buy” rating and set a $815.00 target price on shares of Cable ONE in a report on Friday, November 10th. Wells Fargo & Company restated a “market perform” rating and set a $700.00 target price (down from $761.00) on shares of Cable ONE in a report on Monday, November 13th. Finally, J P Morgan Chase & Co downgraded shares of Cable ONE from a “neutral” rating to an “underweight” rating in a report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $705.00.
Cable ONE (NYSE:CABO) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $5.20 by $0.28. The business had revenue of $253.85 million during the quarter, compared to the consensus estimate of $255.68 million. Cable ONE had a net margin of 12.41% and a return on equity of 24.57%. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.63 earnings per share. research analysts predict that Cable ONE, Inc. will post 22.15 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $1.75 per share. The ex-dividend date is Monday, November 20th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.04%. Cable ONE’s dividend payout ratio (DPR) is presently 34.18%.
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In related news, COO Michael E. Bowker sold 1,244 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $740.59, for a total value of $921,293.96. Following the completion of the sale, the chief operating officer now directly owns 7,104 shares in the company, valued at $5,261,151.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin P. Coyle sold 450 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $740.91, for a total transaction of $333,409.50. Following the completion of the sale, the chief financial officer now owns 4,440 shares of the company’s stock, valued at $3,289,640.40. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Cable ONE 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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