Sawgrass Asset Management LLC Cuts Stake in Cboe Global Markets, Inc. (BATS:CBOE)

Sawgrass Asset Management LLC reduced its stake in Cboe Global Markets, Inc. (BATS:CBOE) by 65.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 38,157 shares of the company’s stock after selling 71,607 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Cboe Global Markets were worth $6,813,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CBOE. NBC Securities Inc. purchased a new stake in Cboe Global Markets during the third quarter valued at about $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Cboe Global Markets during the fourth quarter valued at about $30,000. Allworth Financial LP lifted its holdings in Cboe Global Markets by 75.3% during the fourth quarter. Allworth Financial LP now owns 170 shares of the company’s stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC bought a new stake in shares of Cboe Global Markets during the fourth quarter valued at about $31,000. Finally, BKM Wealth Management LLC bought a new stake in shares of Cboe Global Markets during the fourth quarter valued at about $33,000. 81.73% of the stock is owned by hedge funds and other institutional investors.

Cboe Global Markets Price Performance

Shares of CBOE stock traded up $1.19 during trading hours on Wednesday, hitting $185.44. 721,014 shares of the company’s stock were exchanged, compared to its average volume of 636,231. The company has a market capitalization of $19.67 billion, a PE ratio of 95.59 and a beta of 0.61. Cboe Global Markets, Inc. has a 12-month low of $103.82 and a 12-month high of $139.00. The business’s 50 day simple moving average is $181.97 and its 200-day simple moving average is $180.05. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60.

Cboe Global Markets (BATS:CBOE) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.04 by $0.11. The firm had revenue of $502.10 million for the quarter, compared to the consensus estimate of $504.80 million. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. On average, equities research analysts anticipate that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current year.

Cboe Global Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Wednesday, February 28th. Cboe Global Markets’s dividend payout ratio (DPR) is presently 98.97%.

Insiders Place Their Bets

In other news, EVP Dave Howson sold 5,322 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $186.96, for a total value of $995,001.12. Following the transaction, the executive vice president now owns 17,573 shares in the company, valued at $3,285,448.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays upped their price target on Cboe Global Markets from $211.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday. Bank of America upped their price target on Cboe Global Markets from $200.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Citigroup upped their price target on Cboe Global Markets from $170.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. Morgan Stanley reiterated an “equal weight” rating and set a $199.00 price target (down from $211.00) on shares of Cboe Global Markets in a research report on Tuesday, April 9th. Finally, Oppenheimer reiterated an “outperform” rating and set a $206.00 price target on shares of Cboe Global Markets in a research report on Monday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $191.00.

About Cboe Global Markets

Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange worldwide. It operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. The Options segment trades in listed market indices. The North American Equities segment trades in listed U.S.