Parnassus Investments LLC Sells 98,827 Shares of Cboe Global Markets, Inc. $CBOE

Key Points

• Parnassus Investments LLC reduced its stake in Cboe Global Markets by 19.5%, owning 408,205 shares valued at approximately $92 million after selling 98,827 shares in Q1.
• Several institutional investors increased their holdings in Cboe Global Markets, notably GAMMA Investing LLC which boosted its shares by 29,094.5%, owning 1,216,535 shares valued at $275 million.
• Cboe Global Markets recently increased its quarterly dividend to $0.72 per share, up from $0.63, with an expected annualized dividend yield of 1.2%.

Parnassus Investments LLC trimmed its position in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 19.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 408,205 shares of the company's stock after selling 98,827 shares during the quarter. Parnassus Investments LLC owned 0.39% of Cboe Global Markets worth $92,373,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management raised its holdings in shares of Cboe Global Markets by 0.9% in the 1st quarter. Ritholtz Wealth Management now owns 5,592 shares of the company's stock worth $1,265,000 after buying an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Cboe Global Markets by 1.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,864 shares of the company's stock valued at $874,000 after acquiring an additional 48 shares during the period. Pekin Hardy Strauss Inc. raised its stake in Cboe Global Markets by 0.5% during the first quarter. Pekin Hardy Strauss Inc. now owns 10,765 shares of the company's stock worth $2,436,000 after acquiring an additional 49 shares in the last quarter. Burney Co. lifted its holdings in shares of Cboe Global Markets by 0.7% during the first quarter. Burney Co. now owns 6,942 shares of the company's stock valued at $1,571,000 after acquiring an additional 51 shares during the period. Finally, Argent Trust Co boosted its stake in shares of Cboe Global Markets by 1.3% in the 1st quarter. Argent Trust Co now owns 4,927 shares of the company's stock valued at $1,115,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 82.67% of the company's stock.

Cboe Global Markets Stock Performance

Shares of Cboe Global Markets stock traded down $3.97 during trading on Tuesday, hitting $231.98. 972,833 shares of the stock were exchanged, compared to its average volume of 881,065. Cboe Global Markets, Inc. has a 1-year low of $187.30 and a 1-year high of $255.27. The stock has a market capitalization of $24.26 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 1.75 and a beta of 0.46. The company has a fifty day moving average price of $240.28 and a 200-day moving average price of $226.40. The company has a current ratio of 1.78, a quick ratio of 1.39 and a debt-to-equity ratio of 0.34.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.43 by $0.03. Cboe Global Markets had a return on equity of 22.02% and a net margin of 18.64%.During the same quarter in the prior year, the company posted $2.15 earnings per share. Cboe Global Markets's quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities analysts predict that Cboe Global Markets, Inc. will post 8.96 EPS for the current fiscal year.

Cboe Global Markets Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.72 per share. This is a boost 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 is Friday, August 29th. Cboe Global Markets's dividend payout ratio is presently 33.76%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CBOE shares. Keefe, Bruyette & Woods lifted their price target on shares of Cboe Global Markets from $243.00 to $248.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Royal Bank Of Canada restated a "sector perform" rating and issued a $254.00 price objective on shares of Cboe Global Markets in a research report on Monday, August 4th. Morgan Stanley set a $218.00 target price on shares of Cboe Global Markets and gave the company an "underweight" rating in a research note on Tuesday, July 15th. Cowen reiterated a "hold" rating on shares of Cboe Global Markets in a report on Monday, May 5th. Finally, Barclays boosted their price target 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. Two equities 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $231.38.

Cboe Global Markets Company 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.