Future Fund LLC Boosts Position in Millicom International Cellular SA $TIGO

Key Points

• Future Fund LLC increased its Millicom International Cellular stake by 24.9% in the fourth quarter, buying 16,182 more shares and bringing its total to 81,240 shares worth about $4.5 million.
• Millicom reported stronger-than-expected earnings, posting $0.97 EPS versus the $0.89 consensus estimate while revenue came in at $1.99 billion, matching expectations.
• The company also announced a quarterly dividend of $0.75 per share, equal to a 3.5% annualized yield, as analysts on balance maintain a Moderate Buy rating with an average price target of $77.28.

Future Fund LLC raised its position in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 24.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 81,240 shares of the technology company's stock after purchasing an additional 16,182 shares during the period. Millicom International Cellular accounts for approximately 1.6% of Future Fund LLC's portfolio, making the stock its 7th largest position. Future Fund LLC's holdings in Millicom International Cellular were worth $4,504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Plato Investment Management Ltd acquired a new position in shares of Millicom International Cellular in the 3rd quarter worth approximately $875,000. JPMorgan Chase & Co. lifted its position in shares of Millicom International Cellular by 348.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,459,716 shares of the technology company's stock worth $313,555,000 after purchasing an additional 5,020,602 shares during the period. William Blair Investment Management LLC lifted its position in shares of Millicom International Cellular by 15.0% in the 3rd quarter. William Blair Investment Management LLC now owns 128,350 shares of the technology company's stock worth $6,230,000 after purchasing an additional 16,695 shares during the period. Assetmark Inc. lifted its position in shares of Millicom International Cellular by 31.1% in the 4th quarter. Assetmark Inc. now owns 85,059 shares of the technology company's stock worth $4,716,000 after purchasing an additional 20,194 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Millicom International Cellular by 4.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 413,983 shares of the technology company's stock worth $22,951,000 after purchasing an additional 16,126 shares during the period.

Millicom International Cellular Stock Up 1.8%

Millicom International Cellular stock opened at $85.36 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.33. Millicom International Cellular SA has a 12-month low of $35.62 and a 12-month high of $87.05. The firm's fifty day moving average is $80.81 and its 200 day moving average is $66.83. The company has a market capitalization of $14.43 billion, a PE ratio of 11.60 and a beta of 0.93.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its earnings results on Tuesday, May 12th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.08. Millicom International Cellular had a net margin of 19.16% and a return on equity of 16.38%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. As a group, sell-side analysts predict that Millicom International Cellular SA will post 2.34 EPS for the current fiscal year.

Millicom International Cellular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 8th will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, April 8th. This represents a $3.00 annualized dividend and a yield of 3.5%. Millicom International Cellular's dividend payout ratio is presently 40.76%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TIGO. HSBC upgraded shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $89.00 price target on the stock in a research report on Friday, March 6th. Zacks Research upgraded shares of Millicom International Cellular from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. JPMorgan Chase & Co. boosted their target price on shares of Millicom International Cellular from $86.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, May 20th. Weiss Ratings upgraded shares of Millicom International Cellular from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, May 13th. Finally, Morgan Stanley reiterated a "positive" rating and set a $55.00 target price on shares of Millicom International Cellular in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Millicom International Cellular has an average rating of "Moderate Buy" and an average price target of $77.28.

Millicom International Cellular Company Profile

Millicom International Cellular SA, trading under the TIGO brand, is a Luxembourg‐headquartered telecommunications and media company that provides a range of mobile, cable broadband, digital television and enterprise services. Through its integrated infrastructure, the company delivers voice and data connectivity, high‐speed internet access and pay‐television packages to millions of customers, supported by ongoing investments in network coverage and capacity.

Established in 1990 by Swedish investor Jan Stenbeck, Millicom has grown into a multi‐regional operator focused primarily on Central and South America.

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