Rheos Capital Works Inc. Acquires New Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Rheos Capital Works Inc. bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 445,000 shares of the network equipment provider’s stock, valued at approximately $23,683,000. Cisco Systems comprises about 1.2% of Rheos Capital Works Inc.’s holdings, making the stock its 29th biggest position.

Several other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Cisco Systems by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after purchasing an additional 1,853,598 shares in the last quarter. Legal & General Group Plc raised its holdings in Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after buying an additional 1,530,468 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares during the last quarter. Swedbank AB acquired a new position in Cisco Systems in the 1st quarter valued at approximately $840,538,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Cisco Systems by 26.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after acquiring an additional 2,906,357 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO opened at $56.38 on Thursday. The firm’s fifty day moving average price is $50.73 and its two-hundred day moving average price is $48.50. The company has a market capitalization of $227.14 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $56.41.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the business posted $1.01 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CSCO has been the topic of several analyst reports. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $62.00 in a research note on Wednesday. Jefferies Financial Group lowered their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Evercore ISI lifted their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $56.74.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.