Northwestern Mutual Investment Management Company LLC Cuts Position in Cable One, Inc. (CABO)
Northwestern Mutual Investment Management Company LLC reduced its stake in Cable One, Inc. (NYSE:CABO) by 5.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 763 shares of the company’s stock after selling 45 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Cable One were worth $390,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Oppenheimer Asset Management Inc. bought a new stake in Cable One during the 2nd quarter worth about $235,000. Principal Financial Group Inc. lifted its position in Cable One by 4.1% during the 2nd quarter. Principal Financial Group Inc. now owns 20,116 shares of the company’s stock worth $14,300,000 after buying an additional 789 shares in the last quarter. Neuberger Berman Group LLC lifted its position in Cable One by 5,057.0% during the 2nd quarter. Neuberger Berman Group LLC now owns 68,743 shares of the company’s stock worth $48,869,000 after buying an additional 67,410 shares in the last quarter. Airain ltd lifted its position in Cable One by 48.2% during the 2nd quarter. Airain ltd now owns 1,497 shares of the company’s stock worth $1,064,000 after buying an additional 487 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in Cable One by 20.7% during the 2nd quarter. Prudential Financial Inc. now owns 13,134 shares of the company’s stock worth $9,337,000 after buying an additional 2,249 shares in the last quarter. 70.38% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on CABO. Raymond James Financial, Inc. began coverage on shares of Cable One in a research report on Thursday, June 8th. They set an “outperform” rating and a $785.00 price target on the stock. TheStreet raised shares of Cable One from a “c” rating to a “b-” rating in a research report on Monday, June 12th. BidaskClub cut shares of Cable One from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Zacks Investment Research raised shares of Cable One from a “hold” rating to a “buy” rating and set a $837.00 price target on the stock in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $693.75.
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Cable One, Inc. (NYSE:CABO) opened at 736.74 on Friday. Cable One, Inc. has a 1-year low of $551.59 and a 1-year high of $754.00. The stock’s 50 day moving average is $738.68 and its 200 day moving average is $688.56. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 39.56 and a beta of 0.31.
Cable One (NYSE:CABO) last released its quarterly earnings data on Tuesday, August 8th. The company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.10 by ($0.13). Cable One had a net margin of 12.44% and a return on equity of 22.83%. The business had revenue of $241.00 million during the quarter, compared to the consensus estimate of $247.02 million. During the same period last year, the business posted $4.62 earnings per share. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts predict that Cable One, Inc. will post $20.60 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from Cable One’s previous quarterly dividend of $1.50. The ex-dividend date was Friday, August 11th. Cable One’s dividend payout ratio (DPR) is 37.57%.
In other Cable One news, major shareholder Donald Graham acquired 8,187 shares of the company’s stock in a transaction on Friday, July 28th. The shares were purchased at an average cost of $742.52 per share, with a total value of $6,079,011.24. Following the completion of the purchase, the insider now owns 279,733 shares of the company’s stock, valued at $207,707,347.16. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael E. Bowker sold 1,244 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $740.59, for a total transaction of $921,293.96. Following the completion of the transaction, the chief operating officer now directly owns 7,104 shares in the company, valued at $5,261,151.36. The disclosure for this sale can be found here. Insiders sold 2,561 shares of company stock worth $1,893,119 over the last ninety days. 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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