Marathon Asset Management LLP Has $32 Million Position in Dolby Laboratories (NYSE:DLB)

Marathon Asset Management LLP trimmed its position in Dolby Laboratories (NYSE:DLB) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 556,232 shares of the electronics maker’s stock after selling 10,149 shares during the period. Marathon Asset Management LLP owned approximately 0.54% of Dolby Laboratories worth $31,995,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Dolby Laboratories by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock worth $114,000 after buying an additional 209 shares during the last quarter. US Bancorp DE lifted its stake in Dolby Laboratories by 2.6% in the second quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock valued at $149,000 after purchasing an additional 78 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Dolby Laboratories by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after purchasing an additional 725 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Dolby Laboratories by 4.6% in the second quarter. Teacher Retirement System of Texas now owns 4,637 shares of the electronics maker’s stock valued at $227,000 after purchasing an additional 205 shares during the last quarter. Finally, CrestPoint Capital Management LLC purchased a new position in Dolby Laboratories in the second quarter valued at approximately $240,000. 51.61% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories (DLB) traded up $1.01 during trading on Friday, hitting $60.65. 350,100 shares of the stock were exchanged, compared to its average volume of 386,958. Dolby Laboratories has a one year low of $44.98 and a one year high of $61.45. The stock has a market capitalization of $6,085.49, a price-to-earnings ratio of 28.67, a P/E/G ratio of 2.24 and a beta of 0.83.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Wednesday, October 25th. The electronics maker reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.18. Dolby Laboratories had a net margin of 18.66% and a return on equity of 10.73%. The business had revenue of $242.05 million during the quarter, compared to analyst estimates of $244.80 million. During the same period last year, the business posted $0.37 earnings per share. Dolby Laboratories’s quarterly revenue was up 3.9% compared to the same quarter last year. equities research analysts forecast that Dolby Laboratories will post 2.22 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.16 per share. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, November 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.06%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 32.99%.

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A number of brokerages have issued reports on DLB. B. Riley raised shares of Dolby Laboratories from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $61.50 in a report on Monday, July 17th. BidaskClub cut shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Piper Jaffray Companies reissued a “hold” rating and set a $52.00 target price (up previously from $49.00) on shares of Dolby Laboratories in a report on Wednesday, September 13th. Finally, Dougherty & Co reissued a “buy” rating and set a $63.00 target price on shares of Dolby Laboratories in a report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $60.17.

In related news, insider Kevin J. Yeaman sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $56.46, for a total value of $2,540,700.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Dagmar Dolby sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $48.28, for a total transaction of $4,828,000.00. The disclosure for this sale can be found here. Insiders have sold 904,734 shares of company stock valued at $46,002,951 in the last ninety days. Insiders own 43.80% of the company’s stock.

Dolby Laboratories Profile

Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.

Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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