Retirement Systems of Alabama Sells 55 Shares of Cable One, Inc. (NYSE:CABO)

Posted by Defense World Staff on Jul 27th, 2023

Retirement Systems of Alabama lessened its position in shares of Cable One, Inc. (NYSE:CABO – Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,299 shares of the company’s stock after selling 55 shares during the period. Retirement Systems of Alabama owned about 0.11% of Cable One worth $4,422,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new position in shares of Cable One in the 1st quarter valued at about $214,000. Raymond James Trust N.A. grew its holdings in shares of Cable One by 6.3% in the 1st quarter. Raymond James Trust N.A. now owns 187 shares of the company’s stock valued at $274,000 after acquiring an additional 11 shares in the last quarter. Aviva PLC grew its holdings in shares of Cable One by 1,312.1% in the 1st quarter. Aviva PLC now owns 4,081 shares of the company’s stock valued at $5,976,000 after acquiring an additional 3,792 shares in the last quarter. Bridgewater Associates LP acquired a new stake in Cable One in the 1st quarter valued at about $489,000. Finally, Federated Hermes Inc. lifted its stake in Cable One by 19.4% in the 1st quarter. Federated Hermes Inc. now owns 899 shares of the company’s stock valued at $1,316,000 after purchasing an additional 146 shares during the last quarter. Institutional investors own 98.77% of the company’s stock.

Insider Activity at Cable One

In other news, SVP Eric Michael Lardy sold 321 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $673.85, for a total transaction of $216,305.85. Following the transaction, the senior vice president now owns 2,422 shares in the company, valued at $1,632,064.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Cable One from $680.00 to $670.00 in a research report on Friday, May 5th. StockNews.com initiated coverage on shares of Cable One in a research report on Thursday, May 18th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $1,021.67.

Cable One Stock Performance

NYSE CABO opened at $721.99 on Thursday. The firm’s fifty day moving average price is $659.69 and its two-hundred day moving average price is $697.57. The stock has a market cap of $4.12 billion, a PE ratio of 38.24 and a beta of 0.85. Cable One, Inc. has a fifty-two week low of $602.70 and a fifty-two week high of $1,464.20. The company has a debt-to-equity ratio of 2.17, a quick ratio of 1.75 and a current ratio of 1.75.

Cable One (NYSE:CABO – Get Free Report) last issued its quarterly earnings data on Thursday, May 4th. The company reported $9.62 earnings per share for the quarter, missing the consensus estimate of $14.40 by ($4.78). Cable One had a return on equity of 13.99% and a net margin of 7.06%. The business had revenue of $421.90 million during the quarter, compared to the consensus estimate of $420.66 million. During the same period in the prior year, the firm earned $26.85 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts expect that Cable One, Inc. will post 50.51 EPS for the current fiscal year.

Cable One Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Tuesday, May 30th were issued a $2.85 dividend. The ex-dividend date of this dividend was Friday, May 26th. This represents a $11.40 annualized dividend and a yield of 1.58%. Cable One’s payout ratio is 60.38%.

Cable One Profile

(Free Report)

Cable One, Inc, together with its subsidiaries, provides data, video, and voice services in the United States. The company offers residential data services, a service to enhance Wi-Fi signal throughout the home. It also provides various residential video services from basic video service to digital services with access to hundreds of channels; and provides a cloud-based DVR feature that does not require the use of a set-top boxes.