Royal Bank of Canada Has $4.74 Million Stock Holdings in Telephone and Data Systems, Inc. $TDS

Key Points

• Royal Bank of Canada more than doubled its TDS stake in the first quarter, adding 57,921 shares to own 112,617 shares valued at approximately $4.74 million. Institutional investors and hedge funds collectively own about 80% of TDS.
• Analyst sentiment is mixed but leans positive: TDS received upgrades from Zacks Research and Weiss Ratings, while Raymond James downgraded it and Citigroup lowered its price target to $47. The consensus rating is “Moderate Buy” with a $47 target price.
• TDS shares opened at $35.06, up 5.7%, with a market capitalization of roughly $3.99 billion. The company pays a quarterly dividend of $0.04 per share, representing a 0.5% annualized yield.

Royal Bank of Canada raised its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 105.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,617 shares of the Wireless communications provider's stock after purchasing an additional 57,921 shares during the quarter. Royal Bank of Canada owned approximately 0.10% of Telephone and Data Systems worth $4,741,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TDS. Knighthead Capital Management LLC bought a new position in shares of Telephone and Data Systems in the first quarter valued at $18,764,000. Carronade Capital Management LP raised its position in Telephone and Data Systems by 10.0% during the first quarter. Carronade Capital Management LP now owns 4,623,934 shares of the Wireless communications provider's stock worth $194,668,000 after acquiring an additional 420,340 shares in the last quarter. Rokos Capital Management LLP acquired a new stake in Telephone and Data Systems in the first quarter valued at $21,040,000. 140 Summer Partners LP lifted its stake in Telephone and Data Systems by 5.3% in the fourth quarter. 140 Summer Partners LP now owns 1,315,306 shares of the Wireless communications provider's stock valued at $53,928,000 after acquiring an additional 66,148 shares during the last quarter. Finally, Sentinel Dome Partners LLC bought a new position in shares of Telephone and Data Systems in the 4th quarter valued at about $4,920,000. Institutional investors and hedge funds own 80.00% of the company's stock.

Analyst Upgrades and Downgrades

TDS has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Telephone and Data Systems from a "hold (c-)" rating to a "hold (c+)" rating in a research note on Tuesday. Raymond James Financial cut Telephone and Data Systems from an "outperform" rating to a "market perform" rating in a report on Monday, May 11th. Zacks Research upgraded Telephone and Data Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Citigroup cut their price objective on Telephone and Data Systems from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Saturday, May 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

Telephone and Data Systems Stock Up 5.7%

Shares of TDS opened at $35.06 on Friday. The firm has a market cap of $3.99 billion, a P/E ratio of 11.69 and a beta of 0.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.42 and a current ratio of 3.43. Telephone and Data Systems, Inc. has a 52 week low of $31.51 and a 52 week high of $49.12. The firm's 50-day simple moving average is $36.07 and its 200 day simple moving average is $41.11.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a dividend of $0.04 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Telephone and Data Systems's dividend payout ratio (DPR) is 5.33%.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc NYSE: TDS is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.

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