GWM Advisors LLC Increases Holdings in Meredith Co. (MDP)

GWM Advisors LLC raised its stake in Meredith Co. (NYSE:MDP) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,875 shares of the company’s stock after acquiring an additional 944 shares during the period. GWM Advisors LLC’s holdings in Meredith were worth $447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Royce & Associates LP increased its holdings in Meredith by 5.4% in the 3rd quarter. Royce & Associates LP now owns 1,602,378 shares of the company’s stock valued at $88,932,000 after acquiring an additional 81,737 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Meredith by 6.8% in the 3rd quarter. Macquarie Group Ltd. now owns 1,057,615 shares of the company’s stock worth $58,698,000 after buying an additional 67,632 shares during the last quarter. Channing Capital Management LLC increased its holdings in shares of Meredith by 14.0% in the 3rd quarter. Channing Capital Management LLC now owns 799,034 shares of the company’s stock worth $44,346,000 after buying an additional 98,014 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Meredith by 3.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 769,716 shares of the company’s stock worth $42,719,000 after buying an additional 27,449 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Meredith by 5.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 370,498 shares of the company’s stock worth $20,563,000 after buying an additional 17,840 shares during the last quarter. Institutional investors own 98.28% of the company’s stock.

In other news, Director Donald C. Berg purchased 3,500 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was purchased at an average cost of $57.50 per share, with a total value of $201,250.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Meredith D. Mell Frazier sold 22,176 shares of Meredith stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $69.85, for a total transaction of $1,548,993.60. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at $419,100. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,024 shares of company stock valued at $2,443,024. 4.00% of the stock is owned by corporate insiders.

Shares of Meredith Co. (NYSE MDP) opened at $55.65 on Friday. Meredith Co. has a fifty-two week low of $50.63 and a fifty-two week high of $72.25. The company has a quick ratio of 1.10, a current ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a market cap of $2,489.45, a PE ratio of 14.76, a PEG ratio of 1.50 and a beta of 1.24.

Meredith (NYSE:MDP) last released its quarterly earnings results on Wednesday, January 31st. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.25. Meredith had a net margin of 16.41% and a return on equity of 16.72%. The firm had revenue of $417.70 million during the quarter, compared to analysts’ expectations of $414.97 million. During the same period in the previous year, the company earned $1.30 EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. research analysts anticipate that Meredith Co. will post 4.65 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.545 per share. The ex-dividend date is Tuesday, February 27th. This is a boost from Meredith’s previous quarterly dividend of $0.52. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.92%. Meredith’s payout ratio is currently 34.44%.

MDP has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Meredith from a “sell” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, October 31st. Wells Fargo & Co reduced their target price on shares of Meredith from $62.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday, October 27th. JMP Securities initiated coverage on shares of Meredith in a report on Monday, November 13th. They issued a “market perform” rating on the stock. Citigroup downgraded shares of Meredith from a “buy” rating to a “neutral” rating in a report on Friday, December 1st. Finally, ValuEngine downgraded shares of Meredith from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $73.00.

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Meredith Company Profile

Meredith Corporation is a diversified media company. The Company is focused primarily on the home and family marketplace. The Company operates through two segments: Local Media and National Media. As of June 30, 2016, the Company’s Local Media segment includes 16 owned television stations, one managed television station and related digital and mobile media operations.

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Institutional Ownership by Quarter for Meredith (NYSE:MDP)

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