Comerica Bank lifted its position in Meredith Co. (NYSE:MDP) by 61.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,583 shares of the company’s stock after buying an additional 26,832 shares during the period. Comerica Bank’s holdings in Meredith were worth $4,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial For Lutherans boosted its stake in shares of Meredith by 8.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 7,420 shares of the company’s stock worth $441,000 after buying an additional 590 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Meredith by 3.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 32,944 shares of the company’s stock worth $2,176,000 after buying an additional 1,085 shares during the last quarter. Planning Alternatives Ltd. ADV boosted its stake in shares of Meredith by 11.3% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 12,167 shares of the company’s stock worth $675,000 after buying an additional 1,239 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of Meredith by 5.5% in the 3rd quarter. TD Asset Management Inc. now owns 23,704 shares of the company’s stock worth $1,316,000 after buying an additional 1,240 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Meredith by 9.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 14,622 shares of the company’s stock worth $812,000 after buying an additional 1,247 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Meredith Co. (MDP) opened at $56.05 on Thursday. Meredith Co. has a twelve month low of $50.62 and a twelve month high of $72.25. The company has a market capitalization of $2,560.00, a price-to-earnings ratio of 17.85, a P/E/G ratio of 1.47 and a beta of 1.24. The company has a quick ratio of 1.10, a current ratio of 1.15 and a debt-to-equity ratio of 0.55.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a $0.545 dividend. 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 yield of 3.89%. The ex-dividend date is Tuesday, February 27th. Meredith’s dividend payout ratio (DPR) is currently 66.24%.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Meredith from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Gabelli upgraded Meredith from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Jefferies Group upgraded Meredith from a “hold” rating to a “buy” rating and raised their price target for the stock from $56.00 to $80.00 in a research note on Tuesday, November 28th. ValuEngine upgraded Meredith from a “hold” rating to a “buy” rating in a research note on Monday, November 27th. Finally, Citigroup downgraded Meredith from a “buy” rating to a “neutral” rating in a research note on Friday, December 1st. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $73.00.

In related news, Director Donald C. Berg bought 3,500 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were bought at an average cost of $57.50 per share, with a total value of $201,250.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Joseph H. Ceryanec sold 3,200 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $71.54, for a total value of $228,928.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,024 shares of company stock worth $2,443,024. 4.00% of the stock is owned by insiders.

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About Meredith

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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