Mackenzie Financial Corp Acquires 62,461 Shares of Comcast Corporation (NASDAQ:CMCSA)

Key Points

• Mackenzie Financial Corp increased its stake in Comcast Corporation by 7.4%, acquiring an additional 62,461 shares, bringing their total holdings to 905,052 shares valued at $33.4 million.
• Comcast's stock is currently trading at $32.50, with a market capitalization of $121.35 billion and a P/E ratio of 7.99.
• The company recently declared a quarterly dividend of $0.33 per share, resulting in an annual yield of 4.06% and a dividend payout ratio of 32.43%.

Mackenzie Financial Corp increased its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 7.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 905,052 shares of the cable giant's stock after buying an additional 62,461 shares during the period. Mackenzie Financial Corp's holdings in Comcast were worth $33,396,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CMCSA. Capital World Investors boosted its position in shares of Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after acquiring an additional 11,255,683 shares during the period. Geode Capital Management LLC boosted its position in shares of Comcast by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock valued at $3,212,244,000 after acquiring an additional 1,006,272 shares during the period. Dodge & Cox boosted its position in shares of Comcast by 6.8% in the fourth quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock valued at $2,968,723,000 after acquiring an additional 5,039,823 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Comcast by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 50,320,446 shares of the cable giant's stock valued at $1,890,027,000 after acquiring an additional 5,402,377 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Comcast by 11.5% in the fourth quarter. Invesco Ltd. now owns 45,175,969 shares of the cable giant's stock valued at $1,695,454,000 after acquiring an additional 4,669,069 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Price Performance

Shares of NASDAQ:CMCSA traded down $0.71 during trading on Friday, reaching $32.52. 22,392,993 shares of the company traded hands, compared to its average volume of 24,528,980. The company's 50 day moving average is $34.84 and its two-hundred day moving average is $35.14. The firm has a market capitalization of $121.42 billion, a PE ratio of 7.99, a PEG ratio of 1.58 and a beta of 0.95. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a 52 week low of $31.44 and a 52 week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The company had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. During the same quarter in the previous year, the firm earned $1.21 EPS. Comcast's revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. Comcast's dividend payout ratio is presently 32.43%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CMCSA shares. The Goldman Sachs Group reduced their price objective on Comcast from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Barclays reduced their target price on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday. Evercore ISI reduced their target price on Comcast from $44.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Oppenheimer reduced their target price on Comcast from $55.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Moffett Nathanson raised their target price on Comcast from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $40.77.

About Comcast

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.