Cable One (CABO) Declares $2.85 Dividend

Cable One said on February 7, 2023 that its board of directors declared a regular quarterly dividend of $2.85 per share ($11.40 annualized). Shareholders of record as of February 17, 2023 will receive the payment on March 10, 2023. Previously, the company paid $2.85 per share.

At the current share price of $814.27 / share, the stock's dividend yield is 1.40%. Looking back five years and taking a sample every week, the average dividend yield has been 0.77%, the lowest has been 0.44%, and the highest has been 1.71%. The standard deviation of yields is 0.27 (n=237).

The current dividend yield is 2.33 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.18. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.27%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 37.97% Upside

As of February 8, 2023, the average one-year price target for Cable One is $1,123.46. The forecasts range from a low of $808.00 to a high of $1,428.00. The average price target represents an increase of 37.97% from its latest reported closing price of $814.27.

The projected annual revenue for Cable One is $1,743MM, an increase of 1.74%. The projected annual EPS is $53.19, a decrease of 15.77%.

Fund Sentiment

There are 850 funds or institutions reporting positions in Cable One. This is an increase of 7 owner(s) or 0.83%.

Average portfolio weight of all funds dedicated to US:CABO is 0.1858%, a decrease of 21.0266%. Total shares owned by institutions decreased in the last three months by 1.56% to 6,516K shares.

What are large shareholders doing?

Wellington Management Group Llp holds 479,314 shares representing 8.25% ownership of the company. In it's prior filing, the firm reported owning 480,757 shares, representing a decrease of 0.30%. The firm decreased its portfolio allocation in CABO by 30.23% over the last quarter.

T. Rowe Price Investment Management holds 298,185 shares representing 5.13% ownership of the company.

Rothschild & Co Wealth Management UK holds 265,223 shares representing 4.57% ownership of the company. In it's prior filing, the firm reported owning 251,250 shares, representing an increase of 5.27%. The firm decreased its portfolio allocation in CABO by 19.32% over the last quarter.

Capital International Investors holds 195,106 shares representing 3.36% ownership of the company. In it's prior filing, the firm reported owning 205,314 shares, representing a decrease of 5.23%. The firm decreased its portfolio allocation in CABO by 32.14% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 176,050 shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 176,681 shares, representing a decrease of 0.36%. The firm decreased its portfolio allocation in CABO by 31.28% over the last quarter.

Cable One Background Information
(This description is provided by the company.)

Cable One, Inc. is a leading broadband communications provider serving more than 950,000 residential and business customers in 21 states through its Sparklight® and Clearwave® brands. Sparklight provides consumers with a wide array of connectivity and entertainment services, including high-speed internet and advanced Wi-Fi solutions, cable television and phone service. Sparklight Business and Clearwave provide scalable and cost-effective products for businesses ranging in size from small to mid-market, in addition to enterprise, wholesale and carrier customers.

This story originally appeared on Fintel.