SCP Investment LP Buys New Holdings in Comcast Co. (CMCSA)

SCP Investment LP bought a new position in Comcast Co. (NASDAQ:CMCSA) during the 2nd quarter, Holdings Channel reports. The fund bought 250,000 shares of the cable giant’s stock, valued at approximately $8,203,000. Comcast accounts for about 4.1% of SCP Investment LP’s portfolio, making the stock its 7th biggest holding.

Several other hedge funds have also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC grew its position in Comcast by 108.8% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 33,898,474 shares of the cable giant’s stock worth $1,158,311,000 after acquiring an additional 17,663,290 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Comcast by 9.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 148,275,122 shares of the cable giant’s stock worth $4,864,907,000 after acquiring an additional 12,823,994 shares in the last quarter. BlackRock Inc. grew its position in Comcast by 2.5% in the first quarter. BlackRock Inc. now owns 323,455,630 shares of the cable giant’s stock worth $11,052,476,000 after acquiring an additional 7,922,120 shares in the last quarter. FMR LLC grew its position in Comcast by 7.5% in the second quarter. FMR LLC now owns 111,854,932 shares of the cable giant’s stock worth $3,669,961,000 after acquiring an additional 7,812,415 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Comcast by 24.1% in the first quarter. Franklin Resources Inc. now owns 37,387,405 shares of the cable giant’s stock worth $1,277,535,000 after acquiring an additional 7,257,371 shares in the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:CMCSA opened at $36.96 on Monday. Comcast Co. has a 1 year low of $30.43 and a 1 year high of $44.00. The company has a market cap of $167.62 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.16 and a beta of 1.20. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.86.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 26th. The cable giant reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.04. The business had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.85 billion. Comcast had a return on equity of 15.92% and a net margin of 27.42%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. analysts anticipate that Comcast Co. will post 2.55 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Wednesday, October 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, October 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.06%. Comcast’s payout ratio is 36.89%.

Several research firms recently commented on CMCSA. Pivotal Research reiterated a “buy” rating on shares of Comcast in a research report on Friday, August 10th. Atlantic Securities upgraded Comcast from a “neutral” rating to an “overweight” rating and set a $42.00 price target for the company in a research report on Monday, August 6th. Raymond James lowered Comcast from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $44.00 to $63.00 in a research report on Wednesday, June 13th. Jefferies Financial Group initiated coverage on Comcast in a research report on Thursday, June 7th. They issued a “buy” rating and a $41.00 price target for the company. Finally, Credit Suisse Group initiated coverage on Comcast in a research report on Tuesday, July 10th. They set a “neutral” rating and a $36.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $45.79.

Comcast Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.

Further Reading: Return on Investment (ROI) Defined, Explained

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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