King Luther Capital Management Corp Has $2.73 Million Stock Position in Comcast Co. (NASDAQ:CMCSA)

by · The Markets Daily

King Luther Capital Management Corp cut its position in shares of Comcast Co. (NASDAQ:CMCSA – Free Report) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,330 shares of the cable giant’s stock after selling 1,338 shares during the period. King Luther Capital Management Corp’s holdings in Comcast were worth $2,729,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Comcast by 41.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after acquiring an additional 8,243,302 shares in the last quarter. AQR Capital Management LLC boosted its position in Comcast by 92.1% during the second quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock worth $339,223,000 after purchasing an additional 4,182,525 shares during the period. Kodai Capital Management LP acquired a new position in Comcast during the first quarter valued at approximately $102,119,000. Swedbank AB bought a new position in shares of Comcast in the first quarter valued at approximately $93,051,000. Finally, Darsana Capital Partners LP lifted its stake in shares of Comcast by 26.7% in the second quarter. Darsana Capital Partners LP now owns 9,500,000 shares of the cable giant’s stock worth $372,020,000 after buying an additional 2,000,000 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Price Performance

Comcast stock opened at $43.47 on Friday. The business has a 50 day simple moving average of $41.98 and a 200 day simple moving average of $40.03. Comcast Co. has a one year low of $36.43 and a one year high of $47.11. The company has a market capitalization of $166.34 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72.

Comcast (NASDAQ:CMCSA – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The company had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $1.08 earnings per share. On average, sell-side analysts forecast that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s payout ratio is currently 33.33%.

Analyst Ratings Changes

CMCSA has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and issued a $60.00 target price on shares of Comcast in a report on Tuesday. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $47.75 to $48.00 in a research report on Friday, November 1st. Wells Fargo & Company boosted their price objective on Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their target price on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, TD Cowen cut their price target on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Comcast has a consensus rating of “Moderate Buy” and an average price target of $47.19.

Check Out Our Latest Research Report on CMCSA

About Comcast

(Free Report)

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.

Further Reading

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