Foxhaven Asset Management LP Sells 1,536,673 Shares of Comcast Corporation (CMCSA)

Foxhaven Asset Management LP trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA) by 48.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,607,717 shares of the cable giant’s stock after selling 1,536,673 shares during the quarter. Comcast comprises approximately 4.4% of Foxhaven Asset Management LP’s portfolio, making the stock its 9th biggest position. Foxhaven Asset Management LP’s holdings in Comcast were worth $62,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kahn Brothers Group Inc. DE raised its position in Comcast by 65.4% in the first quarter. Kahn Brothers Group Inc. DE now owns 27,017 shares of the cable giant’s stock worth $624,000 after acquiring an additional 10,687 shares in the last quarter. Insight Capital Research & Management Inc. purchased a new position in Comcast in the first quarter worth $753,000. Mutual of America Capital Management LLC raised its position in Comcast by 139.7% in the first quarter. Mutual of America Capital Management LLC now owns 679,346 shares of the cable giant’s stock worth $25,537,000 after acquiring an additional 395,902 shares in the last quarter. Intellectus Partners LLC raised its position in Comcast by 72.3% in the first quarter. Intellectus Partners LLC now owns 15,480 shares of the cable giant’s stock worth $582,000 after acquiring an additional 6,494 shares in the last quarter. Finally, Stevens Capital Management LP raised its position in Comcast by 1,392.2% in the first quarter. Stevens Capital Management LP now owns 696,476 shares of the cable giant’s stock worth $26,181,000 after acquiring an additional 649,800 shares in the last quarter. 82.50% of the stock is owned by hedge funds and other institutional investors.

CMCSA has been the topic of a number of analyst reports. BidaskClub raised Comcast from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 5th. Macquarie reaffirmed a “buy” rating and set a $40.00 price objective on shares of Comcast in a research note on Thursday, December 7th. Royal Bank of Canada reaffirmed a “buy” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, October 18th. KeyCorp reaffirmed a “hold” rating on shares of Comcast in a research note on Tuesday, October 17th. Finally, Robert W. Baird reaffirmed an “outperform” rating on shares of Comcast in a research note on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $45.72.

Shares of Comcast Corporation (CMCSA) opened at $38.44 on Tuesday. The company has a market capitalization of $177,369.61, a PE ratio of 18.83, a P/E/G ratio of 1.81 and a beta of 1.01. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.06. Comcast Corporation has a twelve month low of $34.12 and a twelve month high of $42.18.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, October 26th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. Comcast had a return on equity of 17.17% and a net margin of 11.99%. The company had revenue of $20.98 billion for the quarter, compared to the consensus estimate of $21.05 billion. During the same period in the previous year, the business earned $0.92 EPS. Comcast’s revenue for the quarter was down 1.6% compared to the same quarter last year. research analysts predict that Comcast Corporation will post 2.06 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 3rd will be issued a dividend of $0.157 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $0.63 annualized dividend and a yield of 1.63%. Comcast’s dividend payout ratio is presently 30.36%.

In other news, EVP Arthur R. Block sold 4,091 shares of Comcast stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $38.36, for a total value of $156,930.76. Following the completion of the transaction, the executive vice president now owns 68,478 shares in the company, valued at approximately $2,626,816.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth J. Bacon sold 2,232 shares of Comcast stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $37.27, for a total value of $83,186.64. Following the completion of the transaction, the director now owns 24,580 shares of the company’s stock, valued at approximately $916,096.60. The disclosure for this sale can be found here. 1.28% of the stock is owned by insiders.

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Comcast Profile

Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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