Meredith Co. (NYSE:MDP) Director Frederick B. Henry sold 1,057 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $57.45, for a total value of $60,724.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of MDP opened at $56.26 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.52 and a debt-to-equity ratio of 2.72. Meredith Co. has a twelve month low of $47.30 and a twelve month high of $72.25. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 22.15 and a beta of 1.26.

Meredith (NYSE:MDP) last issued its earnings results on Wednesday, November 7th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.93. Meredith had a net margin of 3.18% and a return on equity of 13.08%. The company had revenue of $756.70 million for the quarter, compared to analyst estimates of $751.33 million. During the same period in the prior year, the business posted $0.73 earnings per share. The firm’s revenue for the quarter was up 92.6% compared to the same quarter last year. Equities analysts anticipate that Meredith Co. will post 3.05 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.545 per share. The ex-dividend date is Thursday, November 29th. This represents a $2.18 annualized dividend and a yield of 3.87%. Meredith’s payout ratio is currently 85.83%.

Institutional investors and hedge funds have recently modified their holdings of the business. Lido Advisors LLC grew its position in shares of Meredith by 26.1% in the third quarter. Lido Advisors LLC now owns 6,060 shares of the company’s stock valued at $309,000 after purchasing an additional 1,255 shares during the last quarter. Ausdal Financial Partners Inc. boosted its position in Meredith by 29.2% during the second quarter. Ausdal Financial Partners Inc. now owns 5,765 shares of the company’s stock worth $294,000 after acquiring an additional 1,303 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Meredith by 24.3% during the third quarter. Janney Montgomery Scott LLC now owns 6,735 shares of the company’s stock worth $344,000 after acquiring an additional 1,315 shares during the last quarter. American International Group Inc. raised its stake in Meredith by 1.3% during the third quarter. American International Group Inc. now owns 106,331 shares of the company’s stock worth $5,428,000 after purchasing an additional 1,348 shares during the period. Finally, SG Americas Securities LLC raised its stake in Meredith by 12.3% during the third quarter. SG Americas Securities LLC now owns 15,534 shares of the company’s stock worth $793,000 after purchasing an additional 1,700 shares during the period.

Several analysts have recently commented on the company. ValuEngine upgraded Meredith from a “strong sell” rating to a “sell” rating in a report on Thursday, August 16th. Citigroup lifted their price objective on Meredith from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. Zacks Investment Research upgraded Meredith from a “strong sell” rating to a “hold” rating in a report on Friday, October 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $57.00 price objective on shares of Meredith in a report on Monday, August 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $66.20.

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About Meredith

Meredith Corporation operates as a diversified media company in the United States, Europe, and Asia. It operates in two segments, National Media and Local Media. The National Media segment offers national consumer media brands through various media platforms, including print magazines, digital and mobile media, brand licensing activities, database-related activities, affinity marketing, and business-to-business marketing products and services.

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