Raymond James Financial Inc. Acquires New Stake in Cable One, Inc. (NYSE:CABO)

Raymond James Financial Inc. acquired a new position in shares of Cable One, Inc. (NYSE:CABO) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 77,678 shares of the company’s stock, valued at approximately $28,129,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Cable One during the 4th quarter worth approximately $11,993,000. Proficio Capital Partners LLC acquired a new position in Cable One during the fourth quarter worth $10,491,000. Charles Schwab Investment Management Inc. raised its position in Cable One by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 86,776 shares of the company’s stock worth $31,423,000 after acquiring an additional 7,055 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd lifted its holdings in Cable One by 1.5% in the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 294,400 shares of the company’s stock valued at $106,608,000 after acquiring an additional 4,352 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Cable One during the 4th quarter worth $979,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Insider Activity

In related news, Director Wallace R. Weitz acquired 1,000 shares of Cable One stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $244.02 per share, for a total transaction of $244,020.00. Following the completion of the transaction, the director now directly owns 5,584 shares of the company’s stock, valued at $1,362,607.68. The trade was a 21.82 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CABO. JPMorgan Chase & Co. cut their price target on shares of Cable One from $420.00 to $325.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Wells Fargo & Company dropped their target price on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating for the company in a report on Friday, February 28th. Finally, KeyCorp reduced their price target on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating for the company in a research report on Friday, February 28th.

Cable One Price Performance

Cable One stock opened at $255.48 on Friday. The firm has a market capitalization of $1.44 billion, a PE ratio of 5.91 and a beta of 1.07. Cable One, Inc. has a 52 week low of $225.94 and a 52 week high of $437.00. The firm’s 50-day simple moving average is $264.88 and its 200 day simple moving average is $327.52. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.84.

Cable One Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th were issued a $2.95 dividend. This represents a $11.80 annualized dividend and a dividend yield of 4.62%. The ex-dividend date was Tuesday, February 18th. Cable One’s dividend payout ratio (DPR) is presently 229.57%.

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.