Olstein Capital Management L.P. Has $7.78 Million Position in Comcast Corporation (CMCSA)
Olstein Capital Management L.P. decreased its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 200,000 shares of the cable giant’s stock after selling 10,000 shares during the period. Olstein Capital Management L.P.’s holdings in Comcast Corporation were worth $7,784,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in CMCSA. Patriot Financial Group Insurance Agency LLC boosted its position in Comcast Corporation by 100.0% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,680 shares of the cable giant’s stock worth $100,000 after purchasing an additional 1,340 shares during the last quarter. First Bank & Trust boosted its position in Comcast Corporation by 84.9% in the second quarter. First Bank & Trust now owns 2,836 shares of the cable giant’s stock worth $111,000 after purchasing an additional 1,302 shares during the last quarter. Zions Bancorporation boosted its position in Comcast Corporation by 16.8% in the first quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock worth $106,000 after purchasing an additional 410 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Comcast Corporation in the first quarter worth $112,000. Finally, Founders Capital Management purchased a new position in Comcast Corporation in the first quarter worth $113,000. 81.84% of the stock is currently owned by institutional investors.
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Several analysts have issued reports on CMCSA shares. KeyCorp restated a “neutral” rating on shares of Comcast Corporation in a research note on Sunday, September 17th. UBS AG restated an “overweight” rating on shares of Comcast Corporation in a research note on Thursday, August 24th. Argus boosted their target price on Comcast Corporation from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Barclays PLC set a $44.00 target price on Comcast Corporation and gave the company a “buy” rating in a research note on Friday, July 14th. Finally, Robert W. Baird restated a “buy” rating and issued a $43.00 target price on shares of Comcast Corporation in a research note on Friday, September 1st. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $45.83.
In related news, Director Kenneth J. Bacon sold 2,232 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $37.27, for a total value of $83,186.64. Following the completion of the transaction, the director now owns 24,580 shares of the company’s stock, valued at $916,096.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Arthur R. Block sold 4,091 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the transaction, the executive vice president now directly owns 68,478 shares of the company’s stock, valued at approximately $2,626,816.08. The disclosure for this sale can be found here. Insiders sold 9,982 shares of company stock valued at $385,050 in the last quarter. 1.28% of the stock is owned by company insiders.
Shares of Comcast Corporation (CMCSA) opened at 36.20 on Thursday. The firm has a 50-day moving average price of $38.08 and a 200 day moving average price of $39.21. Comcast Corporation has a 12-month low of $30.02 and a 12-month high of $42.18. The stock has a market cap of $170.62 billion, a PE ratio of 18.24 and a beta of 0.98.
Comcast Corporation (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.04. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The business had revenue of $21.17 billion during the quarter, compared to analyst estimates of $20.85 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts expect that Comcast Corporation will post $2.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.74%. Comcast Corporation’s payout ratio is 31.74%.
Comcast Corporation Company Profile
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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