Mount Lucas Management LP Sells 29,020 Shares of Comcast Co. (NASDAQ:CMCSA)

Mount Lucas Management LP decreased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 59.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,503 shares of the cable giant’s stock after selling 29,020 shares during the quarter. Mount Lucas Management LP’s holdings in Comcast were worth $815,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CMCSA. Price T Rowe Associates Inc. MD raised its stake in shares of Comcast by 41.7% during the first 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 buying an additional 8,243,302 shares during the last quarter. Capital World Investors lifted its stake in shares of Comcast by 7.4% in the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after purchasing an additional 7,929,963 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Comcast by 80.9% during the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after purchasing an additional 4,714,586 shares during the period. AQR Capital Management LLC lifted its stake in Comcast by 92.1% in the second quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock valued at $339,223,000 after buying an additional 4,182,525 shares during the period. Finally, Kodai Capital Management LP bought a new stake in shares of Comcast in the 1st quarter valued at about $102,119,000. 84.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Macquarie restated a “neutral” rating and set a $40.00 price objective on shares of Comcast in a report on Friday, November 1st. TD Cowen lowered their price objective on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. KeyCorp raised their price objective on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Wednesday, November 6th. Finally, Pivotal Research raised their price target on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Comcast Stock Performance

Shares of CMCSA stock opened at $42.88 on Friday. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The company’s fifty day simple moving average is $41.61 and its 200-day simple moving average is $39.88. The firm has a market cap of $164.08 billion, a PE ratio of 11.53, a P/E/G ratio of 1.66 and a beta of 1.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 EPS. Equities research analysts expect that Comcast Co. will post 4.25 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio is currently 33.33%.

Comcast Profile

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.