Epoch Investment Partners Inc. raised its stake in Cedar Fair, L.P. (NYSE:FUN) by 1.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 464,662 shares of the company’s stock after buying an additional 6,496 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.82% of Cedar Fair worth $24,200,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Janus Henderson Group PLC lifted its stake in Cedar Fair by 65.1% in the third quarter. Janus Henderson Group PLC now owns 3,727,833 shares of the company’s stock valued at $194,146,000 after buying an additional 1,470,369 shares during the last quarter. Morgan Stanley lifted its stake in Cedar Fair by 53.2% in the second quarter. Morgan Stanley now owns 898,990 shares of the company’s stock valued at $56,645,000 after buying an additional 312,338 shares during the last quarter. Overbrook Management Corp lifted its stake in Cedar Fair by 6.1% in the second quarter. Overbrook Management Corp now owns 450,679 shares of the company’s stock valued at $28,397,000 after buying an additional 25,858 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Cedar Fair by 12.1% in the third quarter. JPMorgan Chase & Co. now owns 363,133 shares of the company’s stock valued at $18,913,000 after buying an additional 39,074 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in Cedar Fair by 38.7% in the third quarter. Public Employees Retirement Association of Colorado now owns 344,046 shares of the company’s stock valued at $17,918,000 after buying an additional 96,000 shares during the last quarter. Institutional investors own 50.82% of the company’s stock.
A number of equities research analysts have issued reports on FUN shares. ValuEngine upgraded Cedar Fair from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. Stifel Nicolaus raised their target price on Cedar Fair from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, September 6th. Finally, Zacks Investment Research cut Cedar Fair from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $65.00.
Shares of FUN opened at $51.47 on Friday. The firm has a market cap of $2.90 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 3.03 and a beta of 0.29. The company has a current ratio of 1.07, a quick ratio of 0.94 and a debt-to-equity ratio of 18.09. Cedar Fair, L.P. has a one year low of $47.90 and a one year high of $70.82.
Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $3.76 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.55. The company had revenue of $663.70 million for the quarter, compared to analyst estimates of $659.45 million. Cedar Fair had a return on equity of 1,656.35% and a net margin of 15.58%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $3.38 earnings per share. Sell-side analysts anticipate that Cedar Fair, L.P. will post 2.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Tuesday, December 4th will be issued a dividend of $0.925 per share. This represents a $3.70 dividend on an annualized basis and a dividend yield of 7.19%. This is a positive change from Cedar Fair’s previous quarterly dividend of $0.89. The ex-dividend date is Monday, December 3rd. Cedar Fair’s dividend payout ratio (DPR) is 91.36%.
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Cedar Fair Profile
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
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