Carronade Capital Management LP Buys 288,000 Shares of Telephone and Data Systems, Inc. $TDS

Carronade Capital Management LP raised its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 8.5% during the 3rd quarter, Holdings Channel reports. The fund owned 3,680,500 shares of the Wireless communications provider’s stock after acquiring an additional 288,000 shares during the period. Telephone and Data Systems makes up about 3.3% of Carronade Capital Management LP’s investment portfolio, making the stock its 3rd largest position. Carronade Capital Management LP’s holdings in Telephone and Data Systems were worth $144,423,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in shares of Telephone and Data Systems by 25.8% during the first quarter. Royal Bank of Canada now owns 42,165 shares of the Wireless communications provider’s stock worth $1,633,000 after acquiring an additional 8,640 shares during the period. AQR Capital Management LLC increased its stake in shares of Telephone and Data Systems by 21.3% during the first quarter. AQR Capital Management LLC now owns 67,125 shares of the Wireless communications provider’s stock worth $2,574,000 after purchasing an additional 11,769 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Telephone and Data Systems by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,721 shares of the Wireless communications provider’s stock worth $2,275,000 after purchasing an additional 2,572 shares during the period. United Services Automobile Association acquired a new stake in Telephone and Data Systems during the 1st quarter worth approximately $248,000. Finally, Geode Capital Management LLC lifted its holdings in Telephone and Data Systems by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,323,551 shares of the Wireless communications provider’s stock worth $82,682,000 after purchasing an additional 11,999 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on TDS. Weiss Ratings raised Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 24th. Wall Street Zen downgraded Telephone and Data Systems from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Citigroup boosted their target price 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. Finally, Zacks Research downgraded shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Telephone and Data Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.33.

Telephone and Data Systems Price Performance

Shares of NYSE TDS opened at $43.42 on Friday. The business has a fifty day moving average price of $44.50 and a two-hundred day moving average price of $40.91. The stock has a market capitalization of $4.99 billion, a PE ratio of -66.80 and a beta of 0.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.10 and a quick ratio of 2.09. Telephone and Data Systems, Inc. has a fifty-two week low of $31.07 and a fifty-two week high of $47.79.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, February 20th. The Wireless communications provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $330.71 million for the quarter, compared to analysts’ expectations of $319.28 million. During the same quarter last year, the business earned ($0.10) earnings per share. Telephone and Data Systems’s revenue was up 12.0% on a year-over-year basis. As a group, equities analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a $0.04 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Telephone and Data Systems’s payout ratio is presently -24.62%.

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.