Deutsche Bank AG grew its position in Meredith Co. (NYSE:MDP) by 26.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 348,219 shares of the company’s stock after purchasing an additional 73,617 shares during the period. Deutsche Bank AG owned approximately 0.78% of Meredith worth $22,996,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fort L.P. grew its position in Meredith by 6.1% in the 3rd quarter. Fort L.P. now owns 72,463 shares of the company’s stock worth $4,022,000 after purchasing an additional 4,155 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in 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 purchasing an additional 17,840 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Meredith by 8.3% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,117,498 shares of the company’s stock worth $139,861,000 after purchasing an additional 162,700 shares during the last quarter. Suntrust Banks Inc. bought a new position in Meredith in the 4th quarter worth about $536,000. Finally, Nationwide Fund Advisors grew its position in Meredith by 7.0% in the 3rd quarter. Nationwide Fund Advisors now owns 96,940 shares of the company’s stock worth $5,380,000 after purchasing an additional 6,336 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.
Meredith stock opened at $53.80 on Thursday. 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 stock has a market cap of $2,404.45, a P/E ratio of 8.91, a PEG ratio of 1.44 and a beta of 1.32. Meredith Co. has a 1-year low of $50.63 and a 1-year high of $72.25.
Meredith (NYSE:MDP) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.25. The business had revenue of $417.70 million during the quarter, compared to analysts’ expectations of $414.97 million. Meredith had a net margin of 16.41% and a return on equity of 16.72%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share. analysts anticipate that Meredith Co. will post 4.65 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were issued a $0.545 dividend. The ex-dividend date was Tuesday, February 27th. This is a boost from Meredith’s previous quarterly dividend of $0.52. This represents a $2.18 annualized dividend and a dividend yield of 4.05%. Meredith’s dividend payout ratio (DPR) is 36.09%.
MDP has been the subject of several recent analyst reports. Wells Fargo upgraded shares of Meredith from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $54.00 to $76.00 in a research report on Monday, November 27th. Benchmark restated a “buy” rating and issued a $77.00 target price (up previously from $67.00) on shares of Meredith in a research report on Monday, November 27th. ValuEngine upgraded shares of Meredith from a “hold” rating to a “buy” rating in a research report on Monday, November 27th. Jefferies Group upgraded shares of Meredith from a “hold” rating to a “buy” rating and upped their target price for the stock from $56.00 to $80.00 in a research report on Tuesday, November 28th. Finally, Citigroup cut shares of Meredith from a “buy” rating to a “neutral” rating in a research report on Friday, December 1st. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Meredith has a consensus rating of “Buy” and a consensus price target of $73.00.
In related news, Director Donald C. Berg acquired 3,500 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was acquired at an average cost of $57.50 per share, for a total transaction of $201,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.00% of the company’s stock.
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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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