State Board of Administration of Florida Retirement System lowered its stake in Cable One, Inc. (NYSE:CABO – Free Report) by 10.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,309 shares of the company’s stock after selling 523 shares during the period. State Board of Administration of Florida Retirement System owned 0.08% of Cable One worth $3,025,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CABO. Capital International Investors increased its holdings in Cable One by 74.9% in the 1st quarter. Capital International Investors now owns 204,285 shares of the company’s stock worth $300,489,000 after purchasing an additional 87,503 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Cable One by 3,559.6% in the fourth quarter. Brown Advisory Inc. now owns 61,737 shares of the company’s stock valued at $43,948,000 after buying an additional 60,050 shares during the period. Neuberger Berman Group LLC raised its holdings in Cable One by 44.5% in the 4th quarter. Neuberger Berman Group LLC now owns 156,535 shares of the company’s stock valued at $111,431,000 after buying an additional 48,175 shares during the last quarter. Norges Bank acquired a new stake in Cable One during the 4th quarter worth approximately $33,659,000. Finally, Marathon Asset Management Ltd bought a new stake in Cable One during the 1st quarter worth approximately $23,992,000. Institutional investors own 98.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. KeyCorp dropped their price target on shares of Cable One from $1,275.00 to $1,175.00 and set an “overweight” rating for the company in a research note on Friday, August 4th. Raymond James lowered their target price on Cable One from $900.00 to $825.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Finally, StockNews.com initiated coverage on Cable One in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $881.00.
Cable One Price Performance
CABO stock opened at $634.11 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 2.11. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 37.02 and a beta of 0.86. The company’s fifty day simple moving average is $665.65 and its 200 day simple moving average is $667.67. Cable One, Inc. has a 12-month low of $602.70 and a 12-month high of $1,032.00.
Cable One (NYSE:CABO – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $10.43 earnings per share for the quarter, missing the consensus estimate of $13.27 by ($2.84). Cable One had a return on equity of 13.47% and a net margin of 6.25%. The business had revenue of $424.02 million during the quarter, compared to the consensus estimate of $422.41 million. On average, analysts expect that Cable One, Inc. will post 49.24 earnings per share for the current year.
Cable One Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th were issued a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a dividend yield of 1.86%. This is a boost from Cable One’s previous quarterly dividend of $2.85. The ex-dividend date of this dividend was Monday, August 28th. Cable One’s dividend payout ratio is presently 68.89%.
Cable One Profile
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.
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