Norges Bank Acquires New Holdings in Cable One, Inc. (NYSE:CABO)

Norges Bank bought a new position in shares of Cable One, Inc. (NYSE:CABO) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 33,120 shares of the company’s stock, valued at approximately $11,993,000. Norges Bank owned 0.59% of Cable One as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rothschild & Co Wealth Management UK Ltd boosted its holdings in shares of Cable One by 1.5% during the 4th quarter. Rothschild & Co Wealth Management UK Ltd now owns 294,400 shares of the company’s stock worth $106,608,000 after buying an additional 4,352 shares during the period. Geode Capital Management LLC lifted its position in Cable One by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 118,170 shares of the company’s stock worth $41,342,000 after acquiring an additional 1,839 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Cable One by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 86,776 shares of the company’s stock valued at $31,423,000 after acquiring an additional 7,055 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Cable One in the fourth quarter valued at about $28,129,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Cable One by 3.7% in the fourth quarter. Bank of New York Mellon Corp now owns 73,013 shares of the company’s stock worth $26,439,000 after purchasing an additional 2,627 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.

Cable One Stock Performance

CABO opened at $251.10 on Tuesday. The stock has a market cap of $1.41 billion, a PE ratio of 5.81 and a beta of 1.07. Cable One, Inc. has a 1 year low of $225.94 and a 1 year high of $437.00. The stock’s 50 day simple moving average is $272.93 and its 200-day simple moving average is $333.44. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.84.

Cable One Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th were issued a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date was Tuesday, February 18th. Cable One’s payout ratio is 229.57%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Wallace R. Weitz acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $244.02 per share, with a total value of $244,020.00. Following the completion of the acquisition, the director now owns 5,584 shares of the company’s stock, valued at $1,362,607.68. This trade represents a 21.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

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.