Archford Capital Strategies LLC Cuts Stake in Cboe Global Markets, Inc. $CBOE

Key Points

• Archford Capital Strategies LLC reduced its stake in Cboe Global Markets by 60% in Q2, now holding 3,470 shares valued at approximately $809,000.
• Analysts have set new price targets for Cboe, with Barclays raising it to $256, while Morgan Stanley has maintained a more cautious $218 target.
• Cboe Global Markets announced a dividend increase to $0.72 per share, reflecting a 1.2% yield on an annualized basis.

Archford Capital Strategies LLC reduced its stake in shares of Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 60.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,470 shares of the company's stock after selling 5,213 shares during the quarter. Archford Capital Strategies LLC's holdings in Cboe Global Markets were worth $809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CBOE. Clearstead Trust LLC purchased a new position in shares of Cboe Global Markets in the first quarter valued at $26,000. Missouri Trust & Investment Co purchased a new position in shares of Cboe Global Markets in the second quarter valued at $26,000. NBC Securities Inc. purchased a new position in shares of Cboe Global Markets in the first quarter valued at $27,000. Hughes Financial Services LLC purchased a new position in shares of Cboe Global Markets in the first quarter valued at $29,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Cboe Global Markets by 4,633.3% in the first quarter. Cornerstone Planning Group LLC now owns 142 shares of the company's stock valued at $30,000 after purchasing an additional 139 shares in the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CBOE shares. Barclays raised their target price on shares of Cboe Global Markets from $243.00 to $256.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price objective on shares of Cboe Global Markets from $243.00 to $248.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Morgan Stanley set a $218.00 price objective on shares of Cboe Global Markets and gave the stock an "underweight" rating in a research note on Tuesday, July 15th. Piper Sandler lifted their price objective on shares of Cboe Global Markets from $250.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, UBS Group reaffirmed a "neutral" rating and set a $255.00 price objective (up from $245.00) on shares of Cboe Global Markets in a research note on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $231.38.

Cboe Global Markets Stock Up 1.1%

Shares of CBOE opened at $246.24 on Tuesday. The firm has a market capitalization of $25.75 billion, a P/E ratio of 34.11, a P/E/G ratio of 1.75 and a beta of 0.46. Cboe Global Markets, Inc. has a 12-month low of $187.30 and a 12-month high of $255.27. The company has a current ratio of 1.78, a quick ratio of 1.39 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $241.65 and a 200-day moving average price of $230.01.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.43 by $0.03. Cboe Global Markets had a net margin of 18.64% and a return on equity of 22.02%. Cboe Global Markets's revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.15 earnings per share. Equities research analysts expect that Cboe Global Markets, Inc. will post 8.96 earnings per share for the current year.

Cboe Global Markets Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a dividend of $0.72 per share. This is an increase from Cboe Global Markets's previous quarterly dividend of $0.63. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. Cboe Global Markets's payout ratio is presently 33.76%.

Cboe Global Markets Profile

Cboe Global Markets, Inc is one of the largest stock exchange operators by volume in the United States and a leading market globally for ETP trading. Cboe offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the VIX Index.

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