Perpetual Ltd Sells 682,897 Shares of Millicom International Cellular SA $TIGO

Key Points

• Perpetual Ltd sold 682,897 shares of Millicom, trimming its position by 25% to 2,049,074 shares (about 1.19% of Millicom, worth ~$113.6M) and making TIGO roughly 1.6% of Perpetual's portfolio as its 17th largest holding.
• Analysts are mixed: five Buy vs. two Sell ratings produce a consensus "Hold" with an average price target of $65.64, though recent upgrades include UBS (Buy, $70 PT) and HSBC (Buy, $89 PT).
• Millicom recently beat earnings with $1.50 EPS vs. $1.05 expected and $1.65B revenue, and declared a $0.75 quarterly dividend (annualized $3.00, ~3.8% yield).

Perpetual Ltd lessened its holdings in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 25.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,049,074 shares of the technology company's stock after selling 682,897 shares during the period. Millicom International Cellular makes up approximately 1.6% of Perpetual Ltd's portfolio, making the stock its 17th biggest holding. Perpetual Ltd owned 1.19% of Millicom International Cellular worth $113,601,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dodge & Cox lifted its holdings in Millicom International Cellular by 1.5% during the second quarter. Dodge & Cox now owns 8,836,132 shares of the technology company's stock worth $331,090,000 after acquiring an additional 134,400 shares during the period. JPMorgan Chase & Co. grew its stake in 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 valued at $313,555,000 after purchasing an additional 5,020,602 shares during the period. Barclays PLC increased its position in shares of Millicom International Cellular by 1.7% during the 3rd quarter. Barclays PLC now owns 2,895,215 shares of the technology company's stock valued at $140,534,000 after purchasing an additional 47,194 shares during the last quarter. State Street Corp increased its position in shares of Millicom International Cellular by 129.2% during the 2nd quarter. State Street Corp now owns 1,820,070 shares of the technology company's stock valued at $68,198,000 after purchasing an additional 1,026,063 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Millicom International Cellular during the 1st quarter worth $50,664,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TIGO. Morgan Stanley reissued a "positive" rating and issued a $55.00 price target on shares of Millicom International Cellular in a report on Thursday, February 26th. UBS Group raised shares of Millicom International Cellular from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $49.00 to $70.00 in a research report on Thursday, January 15th. Zacks Research cut shares of Millicom International Cellular from a "hold" rating to a "strong sell" rating in a research note on Friday, March 6th. HSBC raised shares of Millicom International Cellular from a "hold" rating to a "buy" rating and set a $89.00 target price for the company in a research report on Friday, March 6th. Finally, Scotiabank raised their price target on shares of Millicom International Cellular from $43.00 to $51.20 and gave the stock a "sector underperform" rating in a research note on Monday, March 30th. Five research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Millicom International Cellular has a consensus rating of "Hold" and an average price target of $65.64.

Millicom International Cellular Price Performance

TIGO stock opened at $79.64 on Friday. The stock has a fifty day moving average of $69.37 and a 200-day moving average of $57.49. Millicom International Cellular SA has a fifty-two week low of $26.35 and a fifty-two week high of $79.72. The company has a market capitalization of $13.46 billion, a price-to-earnings ratio of 10.15 and a beta of 0.87. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.86 and a current ratio of 0.88.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The technology company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.45. The business had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.49 billion. Millicom International Cellular had a return on equity of 17.07% and a net margin of 22.62%.The firm's quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. As a group, equities research analysts predict that Millicom International Cellular SA will post 1.91 earnings per share for the current year.

Millicom International Cellular Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Thursday, April 8th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, April 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.8%. Millicom International Cellular's payout ratio is 38.22%.

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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