Telephone and Data Systems, Inc. $TDS Shares Sold by 140 Summer Partners LP

Key Points

• 140 Summer Partners LP cut its TDS stake by 24.1%, selling 396,181 shares and now owns 1,249,158 shares (about 1.09% of the company) valued at roughly $49.0 million.
• TDS beat quarterly expectations with EPS of $0.32 versus a $0.09 estimate and revenue of $330.7M (up 12% year-over-year), and announced a quarterly dividend of $0.04 per share (annualized $0.16, ~0.4% yield).
• Analyst sentiment is generally positive—Citigroup raised its price target to $56 and the stock carries a consensus "Moderate Buy" rating with an average target of $53.33—while about 80% of shares are held by institutional investors.

140 Summer Partners LP reduced its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 24.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,249,158 shares of the Wireless communications provider's stock after selling 396,181 shares during the quarter. Telephone and Data Systems comprises approximately 4.3% of 140 Summer Partners LP's portfolio, making the stock its 15th largest holding. 140 Summer Partners LP owned about 1.09% of Telephone and Data Systems worth $49,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of TDS. Axecap Investments LLC acquired a new stake in shares of Telephone and Data Systems in the 3rd quarter valued at about $2,441,000. American Century Companies Inc. increased its position in Telephone and Data Systems by 4.0% during the second quarter. American Century Companies Inc. now owns 3,607,857 shares of the Wireless communications provider's stock worth $128,368,000 after buying an additional 137,494 shares during the period. Allianz Asset Management GmbH increased its position in Telephone and Data Systems by 21.5% during the third quarter. Allianz Asset Management GmbH now owns 456,451 shares of the Wireless communications provider's stock worth $17,911,000 after buying an additional 80,670 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Telephone and Data Systems in the second quarter valued at approximately $496,000. Finally, Carronade Capital Management LP boosted its holdings in shares of Telephone and Data Systems by 239.3% in the second quarter. Carronade Capital Management LP now owns 3,392,500 shares of the Wireless communications provider's stock valued at $120,705,000 after acquiring an additional 2,392,500 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on TDS shares. Citigroup upped their price target on shares of Telephone and Data Systems from $51.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. Zacks Research lowered shares of Telephone and Data Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 1st. Wall Street Zen cut shares of Telephone and Data Systems from a "hold" rating to a "sell" rating in a report on Sunday, March 1st. Finally, Weiss Ratings upgraded shares of Telephone and Data Systems from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Telephone and Data Systems presently has an average rating of "Moderate Buy" and an average price target of $53.33.

Telephone and Data Systems Price Performance

Shares of NYSE:TDS opened at $43.42 on Friday. Telephone and Data Systems, Inc. has a 52 week low of $31.07 and a 52 week high of $47.79. The company has a 50-day moving average price of $44.50 and a 200 day moving average price of $40.91. The company has a market cap of $4.99 billion, a P/E ratio of -66.80 and a beta of 0.34. The company has a quick ratio of 2.09, a current ratio of 2.10 and a debt-to-equity ratio of 0.20.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly earnings results on Friday, February 20th. The Wireless communications provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.09 by $0.23. Telephone and Data Systems had a positive return on equity of 2.25% and a negative net margin of 0.21%.The business had revenue of $330.71 million during the quarter, compared to analysts' expectations of $319.28 million. During the same period last year, the firm earned ($0.10) EPS. The company's quarterly revenue was up 12.0% compared to the same quarter last year. Research analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Telephone and Data Systems's payout ratio is currently -24.62%.

Telephone and Data Systems 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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