Burgundy Asset Management Ltd. Boosts Holdings in Cable One, Inc. (NYSE:CABO)

Burgundy Asset Management Ltd. boosted its stake in shares of Cable One, Inc. (NYSE:CABO) by 42.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 290,662 shares of the company’s stock after purchasing an additional 86,581 shares during the period. Burgundy Asset Management Ltd. owned approximately 5.17% of Cable One worth $102,894,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CABO. Canada Pension Plan Investment Board grew its holdings in Cable One by 1,906.2% during the first quarter. Canada Pension Plan Investment Board now owns 160,496 shares of the company’s stock worth $67,911,000 after acquiring an additional 152,496 shares during the period. Norges Bank acquired a new stake in shares of Cable One during the 4th quarter worth approximately $35,195,000. Private Management Group Inc. increased its holdings in shares of Cable One by 648.3% during the 1st quarter. Private Management Group Inc. now owns 66,559 shares of the company’s stock valued at $28,163,000 after purchasing an additional 57,664 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Cable One by 11.0% in the 1st quarter. Vanguard Group Inc. now owns 490,178 shares of the company’s stock valued at $207,409,000 after purchasing an additional 48,513 shares during the period. Finally, Nordea Investment Management AB purchased a new stake in Cable One during the first quarter worth $8,695,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Cable One Price Performance

Shares of NYSE CABO opened at $346.45 on Thursday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a fifty day moving average of $362.38 and a 200 day moving average of $380.91. The firm has a market cap of $1.95 billion, a PE ratio of 7.93 and a beta of 0.84. Cable One, Inc. has a one year low of $313.15 and a one year high of $671.62.

Cable One (NYSE:CABO) last announced its earnings results on Thursday, August 1st. The company reported $8.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.36 by ($2.20). Cable One had a net margin of 15.31% and a return on equity of 11.69%. The company had revenue of $394.46 million during the quarter, compared to analyst estimates of $400.64 million. During the same quarter last year, the business earned $10.43 EPS. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, research analysts predict that Cable One, Inc. will post 30.99 EPS for the current fiscal year.

Cable One Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were issued a dividend of $2.95 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.41%. Cable One’s payout ratio is currently 27.02%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Cable One from $470.00 to $480.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Cable One currently has a consensus rating of “Hold” and an average price target of $533.33.

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.