KBC Group NV Acquires New Position in Millicom International Cellular SA (NASDAQ:TIGO)

KBC Group NV bought a new position in shares of Millicom International Cellular SA (NASDAQ:TIGO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,681 shares of the technology company's stock, valued at approximately $233,000.

A number of other hedge funds also recently added to or reduced their stakes in TIGO. State of Wyoming purchased a new stake in shares of Millicom International Cellular during the 4th quarter worth approximately $49,000. Wells Fargo & Company MN boosted its position in Millicom International Cellular by 72.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,892 shares of the technology company's stock worth $122,000 after purchasing an additional 2,055 shares in the last quarter. EWA LLC acquired a new stake in Millicom International Cellular in the first quarter valued at $201,000. Jones Financial Companies Lllp grew its holdings in Millicom International Cellular by 6.4% in the fourth quarter. Jones Financial Companies Lllp now owns 9,075 shares of the technology company's stock valued at $227,000 after purchasing an additional 545 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in shares of Millicom International Cellular in the fourth quarter valued at $248,000.

Millicom International Cellular Stock Performance

Shares of TIGO stock opened at $37.86 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.74 and a current ratio of 0.76. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 18.20 and a beta of 1.06. Millicom International Cellular SA has a one year low of $23.61 and a one year high of $38.50. The company has a 50 day moving average price of $36.15 and a 200 day moving average price of $30.61.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.23. Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the firm posted $0.54 EPS. The business's revenue for the quarter was down 7.6% on a year-over-year basis. Sell-side analysts anticipate that Millicom International Cellular SA will post 1.91 EPS for the current year.

Millicom International Cellular Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. Millicom International Cellular's dividend payout ratio (DPR) is 144.23%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TIGO shares. JPMorgan Chase & Co. increased their price objective on shares of Millicom International Cellular from $41.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Barclays cut their price target on Millicom International Cellular from $310.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, April 3rd. Scotiabank downgraded shares of Millicom International Cellular from a "sector outperform" rating to a "sector perform" rating and set a $37.00 target price for the company. in a research note on Tuesday, June 17th. Wall Street Zen lowered shares of Millicom International Cellular from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Finally, UBS Group lifted their target price on shares of Millicom International Cellular from $31.50 to $39.50 and gave the stock a "buy" rating in a research note on Friday, May 16th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.08.

Millicom International Cellular Profile

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.

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