140 Summer Partners LP Has $53.93 Million Stake in Telephone and Data Systems, Inc. $TDS

Key Points

• 140 Summer Partners LP increased its stake in Telephone and Data Systems by 5.3% in the fourth quarter, ending with 1,315,306 shares valued at about $53.9 million. The position represents roughly 1.14% of TDS and about 4% of the fund’s portfolio.
• Analyst sentiment is mixed, with Raymond James downgrading the stock to market perform while Citigroup raised its price target to $56 and kept a buy rating. Overall, the stock currently carries a Hold consensus and a target price of $53.33.
• TDS reported better-than-expected quarterly earnings of $1.11 per share, beating estimates, though revenue came in slightly below forecasts. The company also announced a quarterly dividend of $0.04 per share, yielding about 0.4% annually.

140 Summer Partners LP increased its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,315,306 shares of the Wireless communications provider's stock after buying an additional 66,148 shares during the quarter. Telephone and Data Systems comprises approximately 4.0% of 140 Summer Partners LP's investment portfolio, making the stock its 15th biggest position. 140 Summer Partners LP owned about 1.14% of Telephone and Data Systems worth $53,928,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Carronade Capital Management LP lifted its position in shares of Telephone and Data Systems by 8.5% during the 3rd quarter. Carronade Capital Management LP now owns 3,680,500 shares of the Wireless communications provider's stock worth $144,423,000 after buying an additional 288,000 shares during the last quarter. SG Americas Securities LLC grew its position in Telephone and Data Systems by 343.6% in the fourth quarter. SG Americas Securities LLC now owns 39,597 shares of the Wireless communications provider's stock valued at $1,623,000 after acquiring an additional 30,670 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in Telephone and Data Systems by 244.2% during the third quarter. Segall Bryant & Hamill LLC now owns 45,152 shares of the Wireless communications provider's stock worth $1,772,000 after acquiring an additional 32,035 shares in the last quarter. Oaktree Capital Management LP bought a new position in shares of Telephone and Data Systems in the third quarter worth about $144,732,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Telephone and Data Systems by 208.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 301,529 shares of the Wireless communications provider's stock worth $12,363,000 after acquiring an additional 203,856 shares during the last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Raymond James Financial downgraded Telephone and Data Systems from an "outperform" rating to a "market perform" rating in a report on Monday, May 11th. Citigroup increased their price objective on shares of Telephone and Data Systems from $51.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, February 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Telephone and Data Systems in a research note on Friday, June 5th. Finally, Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Saturday, May 30th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Telephone and Data Systems currently has a consensus rating of "Hold" and a consensus target price of $53.33.

Telephone and Data Systems Stock Down 1.4%

Shares of NYSE:TDS opened at $39.26 on Wednesday. The business's 50 day moving average is $42.57 and its 200 day moving average is $42.69. Telephone and Data Systems, Inc. has a 12-month low of $32.60 and a 12-month high of $49.12. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 74.07 and a beta of 0.28. The company has a quick ratio of 3.42, a current ratio of 3.43 and a debt-to-equity ratio of 0.16.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $1.11 EPS for the quarter, beating the consensus estimate of ($0.87) by $1.98. Telephone and Data Systems had a net margin of 6.15% and a return on equity of 5.54%. The firm had revenue of $309.45 million during the quarter, compared to analyst estimates of $313.28 million. During the same quarter last year, the business posted ($0.09) EPS. The company's revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts forecast that Telephone and Data Systems, Inc. will post 0.94 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, June 16th. Telephone and Data Systems's dividend payout ratio (DPR) is presently 30.19%.

Telephone and Data Systems Profile

Telephone and Data Systems, Inc NYSE: TDS is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.

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