State Street Corp Grows Stock Holdings in United States Cellular Co. (NYSE:USM)

State Street Corp grew its position in United States Cellular Co. (NYSE:USM - Free Report) by 13.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,343 shares of the Wireless communications provider's stock after purchasing an additional 12,219 shares during the period. State Street Corp owned approximately 0.12% of United States Cellular worth $5,812,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Invesco LLC acquired a new position in United States Cellular during the second quarter valued at $214,000. The Manufacturers Life Insurance Company purchased a new stake in shares of United States Cellular in the second quarter worth about $218,000. Johnson Investment Counsel Inc. acquired a new stake in United States Cellular during the second quarter worth about $234,000. Arizona State Retirement System purchased a new position in United States Cellular during the second quarter valued at approximately $245,000. Finally, Ionic Capital Management LLC acquired a new position in United States Cellular in the third quarter valued at approximately $246,000. 18.03% of the stock is currently owned by hedge funds and other institutional investors.

United States Cellular Price Performance

Shares of United States Cellular stock traded up $0.19 on Friday, reaching $63.71. The company's stock had a trading volume of 66,377 shares, compared to its average volume of 222,698. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $5.48 billion, a P/E ratio of -176.97 and a beta of 0.48. The stock has a 50-day moving average price of $62.35 and a 200-day moving average price of $57.52. United States Cellular Co. has a 52-week low of $32.01 and a 52-week high of $68.31.

United States Cellular (NYSE:USM - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.13 by $0.13. The company had revenue of $922.00 million during the quarter, compared to analyst estimates of $940.40 million. United States Cellular had a negative net margin of 0.79% and a positive return on equity of 1.55%. The firm's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. Analysts expect that United States Cellular Co. will post 0.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on USM shares. StockNews.com raised shares of United States Cellular from a "sell" rating to a "hold" rating in a research note on Wednesday, November 13th. Raymond James upgraded shares of United States Cellular from a "market perform" rating to an "outperform" rating and set a $86.00 price target on the stock in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price objective on shares of United States Cellular from $75.00 to $85.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th.

United States Cellular Profile

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides wireless devices, such as handsets, tablets, mobile hotspots, home phones, and routers, as well as wireless essentials, including cases, screen protectors, chargers, and memory cards; and consumer electronics comprising audio, home automation, and networking products.