Teachers Retirement System of The State of Kentucky lessened its position in Meredith Co. (NYSE:MDP) by 20.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,902 shares of the company’s stock after selling 2,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Meredith were worth $403,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MDP. Select Equity Group L.P. lifted its position in shares of Meredith by 167.5% in the 2nd quarter. Select Equity Group L.P. now owns 855,472 shares of the company’s stock valued at $43,629,000 after acquiring an additional 535,725 shares in the last quarter. Fairpointe Capital LLC lifted its position in shares of Meredith by 37.1% in the 2nd quarter. Fairpointe Capital LLC now owns 1,885,208 shares of the company’s stock valued at $96,146,000 after acquiring an additional 509,659 shares in the last quarter. BlackRock Inc. lifted its position in shares of Meredith by 5.6% in the 2nd quarter. BlackRock Inc. now owns 5,547,284 shares of the company’s stock valued at $282,912,000 after acquiring an additional 292,655 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Meredith by 141.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 341,180 shares of the company’s stock valued at $17,407,000 after acquiring an additional 199,609 shares in the last quarter. Finally, Ariel Investments LLC lifted its position in shares of Meredith by 16.3% in the 2nd quarter. Ariel Investments LLC now owns 1,281,789 shares of the company’s stock valued at $65,371,000 after acquiring an additional 179,756 shares in the last quarter.

In other Meredith news, Director Frederick B. Henry sold 1,057 shares of the stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $57.45, for a total value of $60,724.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Zieser sold 6,011 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $58.42, for a total transaction of $351,162.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,610 shares of company stock valued at $1,081,858. Insiders own 4.70% of the company’s stock.

Several equities research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Meredith in a research report on Friday. They issued a “market perform” rating for the company. Citigroup upped their price target on shares of Meredith from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, November 29th. TheStreet upgraded shares of Meredith from a “c+” rating to a “b-” rating in a research report on Tuesday, November 27th. ValuEngine upgraded shares of Meredith from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Finally, Zacks Investment Research upgraded shares of Meredith from a “strong sell” rating to a “hold” rating in a research report on Friday, October 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $65.25.

MDP stock opened at $55.29 on Friday. Meredith Co. has a 12-month low of $47.30 and a 12-month high of $72.25. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.57 and a quick ratio of 1.52. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 24.70 and a beta of 1.28.

Meredith (NYSE:MDP) last released its earnings results on Friday, November 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.54. 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 prior year, the firm earned $0.73 EPS. The company’s revenue was up 92.6% compared to the same quarter last year. On average, research analysts expect that Meredith Co. will post 3.05 earnings per share for the current fiscal 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 $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 3.94%. Meredith’s payout ratio is 85.83%.

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Meredith 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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