Federated Hermes Inc. Sells 616 Shares of Cable One, Inc. (NYSE:CABO)

Federated Hermes Inc. lowered its stake in Cable One, Inc. (NYSE:CABO) by 28.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,556 shares of the company’s stock after selling 616 shares during the quarter. Federated Hermes Inc.’s holdings in Cable One were worth $551,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CABO. Headlands Technologies LLC increased its stake in Cable One by 19,050.0% in the second quarter. Headlands Technologies LLC now owns 383 shares of the company’s stock valued at $136,000 after purchasing an additional 381 shares in the last quarter. Private Management Group Inc. grew its stake in Cable One by 70.7% in the second quarter. Private Management Group Inc. now owns 113,641 shares of the company’s stock valued at $40,229,000 after acquiring an additional 47,082 shares during the period. Quest Partners LLC increased its holdings in shares of Cable One by 15.9% during the second quarter. Quest Partners LLC now owns 1,086 shares of the company’s stock valued at $384,000 after acquiring an additional 149 shares in the last quarter. Caprock Group LLC acquired a new position in shares of Cable One during the second quarter worth approximately $3,624,000. Finally, Chicago Capital LLC bought a new position in shares of Cable One in the 2nd quarter worth $427,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

Analysts Set New Price Targets

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

Cable One Price Performance

Shares of NYSE:CABO opened at $341.68 on Tuesday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.79. The stock has a market cap of $1.92 billion, a PE ratio of 7.82 and a beta of 0.84. The stock’s fifty day simple moving average is $362.58 and its two-hundred day simple moving average is $378.33. Cable One, Inc. has a 1-year low of $313.15 and a 1-year high of $671.62.

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

Cable One Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a $2.95 dividend. 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 3.45%. Cable One’s payout ratio is presently 27.02%.

About Cable One

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.