Burkett Asset Management Ltd Makes New $1.69 Million Investment in Thomson Reuters Corp $TRI

Burkett Asset Management Ltd acquired a new position in Thomson Reuters Corp (NASDAQ:TRI) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 12,787 shares of the company’s stock, valued at approximately $1,690,000. Thomson Reuters accounts for 1.7% of Burkett Asset Management Ltd’s portfolio, making the stock its 21st biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRI. TLT Family Holdco ULC purchased a new stake in Thomson Reuters in the second quarter worth about $865,442,000. SEG Family Corp. purchased a new stake in Thomson Reuters in the second quarter worth about $659,930,000. Invesco Ltd. grew its holdings in Thomson Reuters by 461.1% in the third quarter. Invesco Ltd. now owns 2,253,243 shares of the company’s stock worth $349,996,000 after purchasing an additional 1,851,677 shares during the period. Norges Bank purchased a new stake in Thomson Reuters in the fourth quarter worth about $153,417,000. Finally, First Trust Advisors LP grew its holdings in Thomson Reuters by 312.5% in the third quarter. First Trust Advisors LP now owns 1,074,988 shares of the company’s stock worth $166,976,000 after purchasing an additional 814,393 shares during the period. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TRI shares. Barclays restated an “overweight” rating and issued a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. Scotiabank set a $138.00 price objective on shares of Thomson Reuters and gave the stock a “sector outperform” rating in a report on Wednesday, May 6th. Bank of America cut their price objective on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, May 19th. Wells Fargo & Company upped their price objective on shares of Thomson Reuters from $87.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, Argus began coverage on shares of Thomson Reuters in a report on Wednesday, April 22nd. They set a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Thomson Reuters has a consensus rating of “Moderate Buy” and a consensus price target of $144.84.

Thomson Reuters Trading Down 2.1%

NASDAQ:TRI opened at $80.25 on Friday. The company’s 50 day moving average price is $88.63 and its 200-day moving average price is $105.46. Thomson Reuters Corp has a 52 week low of $78.60 and a 52 week high of $218.42. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11. The stock has a market cap of $35.01 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.22 and a beta of 0.77.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.05. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that Thomson Reuters Corp will post 4.44 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a dividend of $0.655 per share. The ex-dividend date was Wednesday, May 20th. This represents a $2.62 dividend on an annualized basis and a yield of 3.3%. Thomson Reuters’s dividend payout ratio is 76.16%.

Thomson Reuters Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.