Thrivent Financial For Lutherans Has $47.58 Million Holdings in Time Inc. (TIME)
Thrivent Financial For Lutherans grew its holdings in shares of Time Inc. (NYSE:TIME) by 22.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,315,419 shares of the company’s stock after buying an additional 618,650 shares during the quarter. Thrivent Financial For Lutherans owned approximately 3.33% of Time worth $47,576,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in Time during the 1st quarter worth about $104,000. Riverhead Capital Management LLC lifted its position in Time by 84.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 10,343 shares of the company’s stock worth $148,000 after buying an additional 4,743 shares in the last quarter. Balter Liquid Alternatives LLC bought a new stake in Time during the 2nd quarter worth about $156,000. Brave Asset Management Inc. bought a new stake in Time during the 2nd quarter worth about $160,000. Finally, Kovitz Investment Group Partners LLC bought a new stake in Time during the 2nd quarter worth about $171,000. 89.88% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on TIME. BidaskClub raised shares of Time from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. ValuEngine cut shares of Time from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Macquarie cut shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research report on Thursday, June 15th. Finally, Zacks Investment Research cut shares of Time from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $15.40.
Time Inc. (NYSE TIME) traded down 1.51% on Friday, hitting $13.05. 1,299,890 shares of the stock traded hands. The stock has a 50 day moving average of $13.19 and a 200 day moving average of $15.09. The firm’s market capitalization is $1.30 billion. Time Inc. has a 52 week low of $11.65 and a 52 week high of $20.40.
Time (NYSE:TIME) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). The company had revenue of $694.00 million during the quarter, compared to the consensus estimate of $698.66 million. Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. The business’s revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. Equities research analysts anticipate that Time Inc. will post $1.10 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Tuesday, August 29th. Time’s dividend payout ratio is -12.31%.
Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.
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