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

Carronade Capital Management LP lifted its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,680,500 shares of the Wireless communications provider’s stock after buying an additional 288,000 shares during the period. Telephone and Data Systems comprises 3.3% of Carronade Capital Management LP’s holdings, making the stock its 3rd largest position. Carronade Capital Management LP owned approximately 3.20% of Telephone and Data Systems worth $144,423,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of Telephone and Data Systems by 25.8% in the first quarter. Royal Bank of Canada now owns 42,165 shares of the Wireless communications provider’s stock valued at $1,633,000 after acquiring an additional 8,640 shares during the last quarter. AQR Capital Management LLC boosted its position in 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 valued at $2,574,000 after purchasing an additional 11,769 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 valued at $2,275,000 after purchasing an additional 2,572 shares during the last quarter. United Services Automobile Association acquired a new position in Telephone and Data Systems during the first quarter valued at approximately $248,000. Finally, Geode Capital Management LLC grew its stake in Telephone and Data Systems by 0.5% in the second quarter. Geode Capital Management LLC now owns 2,323,551 shares of the Wireless communications provider’s stock valued at $82,682,000 after purchasing an additional 11,999 shares in the last quarter. Institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Price Performance

NYSE:TDS opened at $43.42 on Friday. Telephone and Data Systems, Inc. has a 12-month low of $31.07 and a 12-month high of $47.79. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of -66.80 and a beta of 0.34. The stock’s 50 day moving average price is $44.50 and its two-hundred day moving average price is $40.91. 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) last issued its earnings results on Friday, February 20th. The Wireless communications provider reported $0.32 EPS for the quarter, topping 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 company had revenue of $330.71 million during the quarter, compared to the consensus estimate of $319.28 million. During the same period in the previous year, the company posted ($0.10) EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have weighed in on TDS. Wall Street Zen lowered Telephone and Data Systems from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Weiss Ratings raised shares of Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 24th. Citigroup boosted their target price on shares of Telephone and Data Systems from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, Zacks Research lowered shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.33.

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.