Olstein Capital Management L.P. Acquires 21,000 Shares of Comcast Co. (NASDAQ:CMCSA)

Olstein Capital Management L.P. grew its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 23.3% in the third quarter, HoldingsChannel.com reports. The fund owned 111,000 shares of the cable giant’s stock after purchasing an additional 21,000 shares during the period. Olstein Capital Management L.P.’s holdings in Comcast were worth $4,636,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CMCSA. Washington Trust Bank lifted its position in Comcast by 1.6% in the 3rd quarter. Washington Trust Bank now owns 269,708 shares of the cable giant’s stock worth $11,266,000 after buying an additional 4,256 shares during the last quarter. Jmac Enterprises LLC lifted its position in Comcast by 6.3% in the 3rd quarter. Jmac Enterprises LLC now owns 30,378 shares of the cable giant’s stock worth $1,269,000 after buying an additional 1,806 shares during the last quarter. Montecito Bank & Trust bought a new stake in Comcast in the 3rd quarter worth approximately $297,000. US Financial Advisors LLC lifted its position in Comcast by 7.8% in the 3rd quarter. US Financial Advisors LLC now owns 5,817 shares of the cable giant’s stock worth $243,000 after buying an additional 420 shares during the last quarter. Finally, Advisor Resource Council bought a new stake in Comcast in the 3rd quarter worth approximately $611,000. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

CMCSA traded down $0.61 during midday trading on Thursday, reaching $44.53. The company had a trading volume of 351,532 shares, compared to its average volume of 19,640,584. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The business has a 50-day moving average of $41.00 and a two-hundred day moving average of $39.66. The company has a market cap of $172.44 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.14 and a beta of 1.00. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The firm had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter last year, the business posted $1.08 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts predict that Comcast Co. will post 4.27 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CMCSA shares. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Macquarie reissued a “neutral” rating and set a $40.00 target price on shares of Comcast in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their target price on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Pivotal Research boosted their target price on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Barclays boosted their target price on Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Comcast currently has an average rating of “Moderate Buy” and an average price target of $46.75.

About Comcast

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.