KLP Kapitalforvaltning AS Increases Stake in Telephone and Data Systems, Inc. $TDS

KLP Kapitalforvaltning AS raised its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 7.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 22,200 shares of the Wireless communications provider’s stock after purchasing an additional 1,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in Telephone and Data Systems were worth $790,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Third Point LLC lifted its holdings in Telephone and Data Systems by 12.7% in the 1st quarter. Third Point LLC now owns 6,760,000 shares of the Wireless communications provider’s stock valued at $261,882,000 after purchasing an additional 760,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Telephone and Data Systems by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,354,795 shares of the Wireless communications provider’s stock valued at $246,181,000 after purchasing an additional 107,501 shares in the last quarter. American Century Companies Inc. lifted its holdings in Telephone and Data Systems by 7.5% in the 1st quarter. American Century Companies Inc. now owns 3,470,363 shares of the Wireless communications provider’s stock valued at $134,442,000 after purchasing an additional 240,795 shares in the last quarter. Carronade Capital Management LP lifted its holdings in Telephone and Data Systems by 48.2% in the 1st quarter. Carronade Capital Management LP now owns 2,730,517 shares of the Wireless communications provider’s stock valued at $105,780,000 after purchasing an additional 888,108 shares in the last quarter. Finally, Silver Point Capital L.P. lifted its holdings in Telephone and Data Systems by 19.8% in the 1st quarter. Silver Point Capital L.P. now owns 2,205,000 shares of the Wireless communications provider’s stock valued at $85,422,000 after purchasing an additional 365,000 shares in the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Stock Down 0.6%

Shares of TDS opened at $38.58 on Friday. The firm has a market cap of $4.44 billion, a P/E ratio of -39.77 and a beta of 0.39. Telephone and Data Systems, Inc. has a 12-month low of $25.04 and a 12-month high of $42.74. The company’s 50-day moving average price is $38.89 and its 200 day moving average price is $36.96. The company has a current ratio of 1.78, a quick ratio of 1.65 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings data on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.13) earnings per share. On average, sell-side analysts forecast that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.04 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Telephone and Data Systems’s dividend payout ratio (DPR) is presently -16.49%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Zacks Research upgraded Telephone and Data Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. lifted their price target on Telephone and Data Systems from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, August 12th. Weiss Ratings upgraded Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Raymond James Financial lifted their price target on Telephone and Data Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Finally, Wall Street Zen upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.00.

Insider Buying and Selling at Telephone and Data Systems

In other news, CAO Anita J. Kroll sold 29,047 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $39.02, for a total value of $1,133,413.94. Following the completion of the transaction, the chief accounting officer owned 19,892 shares of the company’s stock, valued at approximately $776,185.84. This trade represents a 59.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Joseph R. Hanley sold 68,759 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.16, for a total transaction of $2,623,843.44. Following the completion of the transaction, the senior vice president directly owned 60,473 shares of the company’s stock, valued at approximately $2,307,649.68. The trade was a 53.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 276,650 shares of company stock worth $10,690,789. 14.97% of the stock is owned by company insiders.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.