AMG Funds LLC decreased its holdings in Meredith Co. (NYSE:MDP) by 13.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,468 shares of the company’s stock after selling 5,933 shares during the quarter. Meredith accounts for about 1.5% of AMG Funds LLC’s holdings, making the stock its 12th biggest holding. AMG Funds LLC owned about 0.09% of Meredith worth $2,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Meredith by 5.6% in the second quarter. BlackRock Inc. now owns 5,547,284 shares of the company’s stock valued at $282,912,000 after purchasing an additional 292,655 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Meredith by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,012,569 shares of the company’s stock valued at $102,643,000 after purchasing an additional 61,716 shares during the period. Royce & Associates LP boosted its stake in shares of Meredith by 6.3% in the second quarter. Royce & Associates LP now owns 1,929,716 shares of the company’s stock valued at $98,416,000 after purchasing an additional 113,600 shares during the period. Fairpointe Capital LLC boosted its stake in shares of Meredith by 37.1% in the second quarter. Fairpointe Capital LLC now owns 1,885,208 shares of the company’s stock valued at $96,146,000 after purchasing an additional 509,659 shares during the period. Finally, Ariel Investments LLC boosted its stake in shares of Meredith by 16.3% in the second quarter. Ariel Investments LLC now owns 1,281,789 shares of the company’s stock valued at $65,371,000 after purchasing an additional 179,756 shares during the period.

A number of research analysts recently issued reports on the stock. ValuEngine downgraded shares of Meredith from a “sell” rating to a “strong sell” rating in a research note on Friday, August 10th. Zacks Investment Research downgraded shares of Meredith from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Citigroup lifted their price target on shares of Meredith from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $57.00 price target on shares of Meredith in a research note on Monday, August 13th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $66.20.

Shares of Meredith stock opened at $54.44 on Wednesday. Meredith Co. has a 52-week low of $47.30 and a 52-week high of $72.25. The company has a quick ratio of 1.52, a current ratio of 1.57 and a debt-to-equity ratio of 2.72. The company has a market capitalization of $2.53 billion, a P/E ratio of 21.43 and a beta of 1.26.

Meredith (NYSE:MDP) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $751.33 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The firm’s quarterly revenue was up 92.6% on a year-over-year basis. On average, equities research analysts anticipate that Meredith Co. will post 3.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $2.18 dividend on an annualized basis and a yield of 4.00%. Meredith’s dividend payout ratio is currently 85.83%.

In other news, insider John S. Zieser sold 6,011 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $58.42, for a total transaction of $351,162.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Joseph H. Ceryanec sold 4,658 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $58.10, for a total transaction of $270,629.80. Following the sale, the chief financial officer now owns 2,226 shares of the company’s stock, valued at approximately $129,330.60. The disclosure for this sale can be found here. Insiders sold 18,610 shares of company stock valued at $1,081,858 in the last quarter. 4.70% of the stock is owned by insiders.

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Meredith Company Profile

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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Institutional Ownership by Quarter for Meredith (NYSE:MDP)

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