Xact Kapitalforvaltning AB Takes $253,000 Position in Meredith Co. (MDP)

Xact Kapitalforvaltning AB purchased a new position in shares of Meredith Co. (NYSE:MDP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,823 shares of the company’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Strs Ohio lifted its holdings in shares of Meredith by 314.3% during the fourth quarter. Strs Ohio now owns 2,900 shares of the company’s stock worth $191,000 after purchasing an additional 2,200 shares during the period. Shelton Capital Management acquired a new stake in shares of Meredith during the fourth quarter worth $202,000. Janney Montgomery Scott LLC acquired a new stake in shares of Meredith during the third quarter worth $204,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Meredith during the fourth quarter worth $205,000. Finally, Bbva Compass Bancshares Inc. acquired a new stake in shares of Meredith during the fourth quarter worth $208,000. 95.12% of the stock is owned by hedge funds and other institutional investors.

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Several equities research analysts recently weighed in on MDP shares. Zacks Investment Research raised Meredith from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Thursday, January 11th. Benchmark reaffirmed a “buy” rating on shares of Meredith in a report on Tuesday, January 30th. ValuEngine downgraded Meredith from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, Gabelli raised Meredith from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Meredith currently has an average rating of “Hold” and an average target price of $73.00.

NYSE:MDP opened at $52.25 on Friday. The firm has a market capitalization of $2,370.90, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.42 and a beta of 1.41. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.10. Meredith Co. has a 1 year low of $50.63 and a 1 year high of $72.25.

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

In other Meredith news, Director Donald C. Berg acquired 3,500 shares of the business’s stock in a transaction on Monday, February 5th. The stock was purchased at an average price of $57.50 per share, for a total transaction of $201,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.00% of the company’s stock.

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Meredith Profile

Meredith Corporation operates as a diversified media company in the United States. It operates in two segments, Local Media and National Media. The Local Media segment operates television stations, such as 7 CBS affiliates, 5 FOX affiliates, 2 MyNetworkTV affiliates, 1 NBC affiliate, 1 ABC affiliate, and 2 independent stations.

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Institutional Ownership by Quarter for Meredith (NYSE:MDP)

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