Dodge & Cox Purchases 681,063 Shares of Charter Communications, Inc. $CHTR

Key Points

• Dodge & Cox increased its stake in Charter by 6.1%, buying 681,063 shares to hold 11,807,549 shares worth $3.25 billion, which is about 9.12% of Charter and represents roughly 1.8% of Dodge & Cox’s portfolio (its 22nd-largest position).
• Other major institutions including Norges Bank, Vanguard, UBS and First Eagle also built or raised large positions in CHTR, and institutional investors collectively own about 81.76% of the company.
• Charter shares traded near $218 with a P/E of 6.01; the company reported quarterly EPS of $10.34 (a slight miss) and a 2.3% revenue decline year-over-year, and analysts’ consensus rating is Hold with an average target of $335.11.

Dodge & Cox increased its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,807,549 shares of the company's stock after purchasing an additional 681,063 shares during the period. Charter Communications makes up about 1.8% of Dodge & Cox's investment portfolio, making the stock its 22nd largest position. Dodge & Cox owned about 9.12% of Charter Communications worth $3,248,316,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CHTR. Norges Bank bought a new position in Charter Communications during the second quarter valued at $1,145,387,000. Capital Research Global Investors purchased a new position in shares of Charter Communications in the 3rd quarter worth $327,179,000. Vanguard Group Inc. increased its holdings in shares of Charter Communications by 13.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company's stock worth $2,575,630,000 after buying an additional 1,130,648 shares during the last quarter. UBS Group AG raised its position in shares of Charter Communications by 71.0% during the 3rd quarter. UBS Group AG now owns 1,615,283 shares of the company's stock valued at $444,372,000 after buying an additional 670,566 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its position in shares of Charter Communications by 79.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 1,352,359 shares of the company's stock valued at $372,041,000 after buying an additional 597,933 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company's stock.

Charter Communications Stock Up 1.4%

NASDAQ:CHTR opened at $218.19 on Friday. The company has a market cap of $27.63 billion, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of 0.34 and a beta of 1.02. Charter Communications, Inc. has a twelve month low of $180.38 and a twelve month high of $437.06. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 4.65. The stock has a fifty day simple moving average of $216.65 and a 200-day simple moving average of $228.85.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its quarterly earnings results on Friday, January 30th. The company reported $10.34 EPS for the quarter, missing analysts' consensus estimates of $10.40 by ($0.06). Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.73 billion. During the same quarter in the previous year, the company posted $10.10 earnings per share. The company's revenue for the quarter was down 2.3% on a year-over-year basis. Analysts anticipate that Charter Communications, Inc. will post 38.16 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. BNP Paribas Exane dropped their price target on Charter Communications from $160.00 to $150.00 and set an "underperform" rating for the company in a research report on Tuesday, February 24th. TD Cowen upped their price objective on Charter Communications from $428.00 to $437.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a "sell (d+)" rating on shares of Charter Communications in a report on Monday, December 29th. Benchmark boosted their target price on Charter Communications from $425.00 to $455.00 and gave the company a "buy" rating in a research report on Thursday, January 29th. Finally, KeyCorp restated a "sector weight" rating on shares of Charter Communications in a report on Monday, January 26th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Charter Communications currently has a consensus rating of "Hold" and an average target price of $335.11.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter's service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company's consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.

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