Meredith Corporation (MDP) Stake Decreased by SG Americas Securities LLC

SG Americas Securities LLC lowered its holdings in Meredith Corporation (NYSE:MDP) by 42.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,548 shares of the company’s stock after selling 5,522 shares during the quarter. SG Americas Securities LLC’s holdings in Meredith were worth $419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of MDP. State Street Corp increased its position in Meredith by 16.8% in the second quarter. State Street Corp now owns 4,938,340 shares of the company’s stock worth $293,589,000 after buying an additional 710,721 shares in the last quarter. BlackRock Inc. increased its position in Meredith by 9.1% in the second quarter. BlackRock Inc. now owns 7,553,017 shares of the company’s stock worth $449,025,000 after buying an additional 627,217 shares in the last quarter. Royce & Associates LP increased its position in Meredith by 28.1% in the second quarter. Royce & Associates LP now owns 1,520,641 shares of the company’s stock worth $90,402,000 after buying an additional 333,861 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of Meredith by 904.1% in the second quarter. Systematic Financial Management LP now owns 297,323 shares of the company’s stock worth $17,676,000 after acquiring an additional 267,713 shares during the period. Finally, Aberdeen Asset Management PLC UK boosted its stake in shares of Meredith by 151.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 351,997 shares of the company’s stock worth $20,926,000 after acquiring an additional 211,997 shares during the period. Institutional investors own 98.04% of the company’s stock.

Meredith Corporation (MDP) traded down $0.40 during trading hours on Thursday, hitting $70.10. The stock had a trading volume of 22,723 shares, compared to its average volume of 531,935. The company has a market cap of $3,180.93, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 2.63 and a beta of 1.29. Meredith Corporation has a 1-year low of $50.63 and a 1-year high of $72.25. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.04.

Meredith (NYSE:MDP) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.06. Meredith had a return on equity of 18.24% and a net margin of 11.04%. The firm had revenue of $393.00 million for the quarter, compared to the consensus estimate of $397.50 million. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. analysts expect that Meredith Corporation will post 3.39 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $2.08 annualized dividend and a dividend yield of 2.97%. Meredith’s payout ratio is 50.36%.

A number of equities analysts have recently weighed in on the company. Jefferies Group reaffirmed a “hold” rating and issued a $60.00 price objective on shares of Meredith in a research note on Monday, October 16th. ValuEngine raised Meredith from a “hold” rating to a “buy” rating in a research note on Monday, November 27th. Benchmark reissued a “buy” rating and set a $77.00 price target (up from $67.00) on shares of Meredith in a research note on Monday, November 27th. BidaskClub lowered Meredith from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, Citigroup lowered Meredith from a “buy” rating to a “neutral” rating in a research note on Friday, December 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $71.40.

In other Meredith news, Director Frederick B. Henry sold 1,048 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $66.50, for a total transaction of $69,692.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Karpowicz sold 5,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $68.61, for a total value of $343,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,248 shares of company stock worth $641,670 over the last 90 days. 4.00% of the stock is currently owned by company insiders.

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Meredith 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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