New York State Teachers Retirement System Cuts Stake in Cable One, Inc. (NYSE:CABO)

New York State Teachers Retirement System lowered its position in shares of Cable One, Inc. (NYSE:CABO) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,922 shares of the company’s stock after selling 123 shares during the period. New York State Teachers Retirement System’s holdings in Cable One were worth $3,296,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Rothschild & Co Wealth Management UK Ltd increased its stake in shares of Cable One by 1.7% during the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 279,010 shares of the company’s stock valued at $171,770,000 after buying an additional 4,689 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Cable One by 4.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 240,869 shares of the company’s stock valued at $148,289,000 after buying an additional 10,521 shares during the period. Capital International Investors increased its stake in shares of Cable One by 74.9% during the first quarter. Capital International Investors now owns 204,285 shares of the company’s stock valued at $300,489,000 after buying an additional 87,503 shares during the period. Burgundy Asset Management Ltd. grew its stake in Cable One by 24.8% in the third quarter. Burgundy Asset Management Ltd. now owns 155,097 shares of the company’s stock valued at $95,484,000 after purchasing an additional 30,831 shares during the last quarter. Finally, River Road Asset Management LLC grew its stake in Cable One by 20.4% in the third quarter. River Road Asset Management LLC now owns 111,388 shares of the company’s stock valued at $68,575,000 after purchasing an additional 18,896 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Cable One Price Performance

Shares of NYSE CABO opened at $392.43 on Tuesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.69 and a current ratio of 1.69. Cable One, Inc. has a fifty-two week low of $373.37 and a fifty-two week high of $768.75. The company has a market cap of $2.21 billion, a PE ratio of 8.69 and a beta of 0.80. The business has a 50-day simple moving average of $445.47 and a two-hundred day simple moving average of $521.93.

Cable One (NYSE:CABO) last released its earnings results on Thursday, February 22nd. The company reported $10.66 EPS for the quarter, missing analysts’ consensus estimates of $12.86 by ($2.20). Cable One had a return on equity of 13.65% and a net margin of 15.94%. The firm had revenue of $411.82 million for the quarter, compared to analyst estimates of $417.66 million. As a group, equities analysts expect that Cable One, Inc. will post 43.36 EPS for the current fiscal year.

Cable One Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Tuesday, February 20th were issued a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Friday, February 16th. Cable One’s dividend payout ratio (DPR) is 26.12%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CABO. Wells Fargo & Company cut their target price on Cable One from $460.00 to $400.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Moffett Nathanson upgraded Cable One from a “neutral” rating to a “buy” rating and set a $615.00 target price on the stock in a research note on Tuesday, March 5th. Finally, KeyCorp lowered their price target on Cable One from $900.00 to $881.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $627.80.

Insider Buying and Selling

In related news, insider Christopher D. Boone sold 204 shares of Cable One stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $460.00, for a total transaction of $93,840.00. Following the completion of the transaction, the insider now directly owns 1,854 shares in the company, valued at $852,840. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Cable One Company 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.