Trade Report: Today, Cedar Fair, L.P. (fun) Increases Dividend to $0.86 Per Share

Today, Cedar Fair, L.P. (fun) Increases Dividend to $0.86 Per Share

Cedar Fair, L.P. (NYSE:fun) announced a quarterly dividend on Thursday, November 3rd. Shareholders of record on Monday, December 5th will be given a dividend of 0.855 per share on Thursday, December 15th. This represents a $3.42 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend is Thursday, December 1st. This is a boost from Cedar Fair, L.P.’s previous quarterly dividend of $0.83.

Shares of Cedar Fair, L.P. (NYSE:FUN) opened at 59.95 on Friday. Cedar Fair, L.P. has a 1-year low of $48.46 and a 1-year high of $63.40. The firm’s 50-day moving average is $58.50 and its 200 day moving average is $58.85. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 21.40 and a beta of 0.72.

Cedar Fair, L.P. (NYSE:FUN) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $3.10 EPS for the quarter, missing analysts’ consensus estimates of $3.54 by $0.44. The company earned $650.30 million during the quarter, compared to analysts’ expectations of $30 million. During the same quarter in the prior year, the company earned $2.92 EPS. The business’s revenue was up .9% compared to the same quarter last year. Equities analysts expect that Cedar Fair, L.P. will post $3.46 EPS for the current fiscal year.

A number of equities analysts recently commented on FUN shares. Janney Montgomery Scott restated a “buy” rating and issued a $68.00 price objective on shares of Cedar Fair, L.P. in a report on Thursday, September 1st. Zacks Investment Research downgraded Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a report on Monday, October 10th. FBR & Co reiterated a “buy” rating on shares of Cedar Fair, L.P. in a report on Thursday, September 8th. Credit Suisse Group AG set a $67.00 price target on Cedar Fair, L.P. and gave the company a “buy” rating in a report on Monday, September 12th. Finally, Wedbush downgraded Cedar Fair, L.P. from an “outperform” rating to a “neutral” rating in a report on Friday, September 23rd. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $64.83.

In other news, CAO David R. Hoffman sold 7,043 shares of the stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $60.63, for a total value of $427,017.09. Following the completion of the sale, the chief accounting officer now directly owns 36,611 shares of the company’s stock, valued at $2,219,724.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Milkie Duffield sold 6,374 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $60.84, for a total value of $387,794.16. Following the completion of the sale, the vice president now directly owns 56,550 shares of the company’s stock, valued at $3,440,502. The disclosure for this sale can be found here.

Several large investors have recently bought and sold shares of FUN. Janus Capital Management LLC boosted its stake in Cedar Fair, L.P. by 1.2% in the second quarter. Janus Capital Management LLC now owns 507,069 shares of the company’s stock valued at $29,319,000 after buying an additional 6,203 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in Cedar Fair, L.P. during the second quarter valued at $9,303,000. Loomis Sayles & Co. L P boosted its stake in Cedar Fair, L.P. by 3.6% in the second quarter. Loomis Sayles & Co. L P now owns 2,996 shares of the company’s stock valued at $173,000 after buying an additional 103 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Cedar Fair, L.P. by 14.9% in the second quarter. Stratos Wealth Partners LTD. now owns 10,772 shares of the company’s stock valued at $623,000 after buying an additional 1,394 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Cedar Fair, L.P. by 1.9% in the second quarter. Thrivent Financial for Lutherans now owns 311,086 shares of the company’s stock valued at $17,987,000 after buying an additional 5,950 shares in the last quarter.

About Cedar Fair, L.P.

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