Korea Investment CORP Invests $2.05 Million in Thomson Reuters Corp $TRI

Korea Investment CORP bought a new position in Thomson Reuters Corp (NASDAQ:TRI) during the second quarter, according to its most recent filing with the SEC. The firm bought 25,162 shares of the company’s stock, valued at approximately $2,054,000.

Several other hedge funds have also bought and sold shares of TRI. Empowered Funds LLC acquired a new position in Thomson Reuters during the fourth quarter worth $30,000. Timmons Wealth Management LLC bought a new position in shares of Thomson Reuters in the fourth quarter valued at $42,000. Montag A & Associates Inc. acquired a new position in shares of Thomson Reuters during the fourth quarter valued at about $43,000. Western Wealth Management LLC acquired a new position in shares of Thomson Reuters during the first quarter valued at about $48,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of Thomson Reuters during the fourth quarter worth about $56,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Bank of America lowered their target price 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. Canaccord Genuity Group cut their price target on Thomson Reuters from $134.00 to $132.50 and set a “buy” rating for the company in a research note on Thursday, August 6th. Royal Bank Of Canada boosted their price objective on Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Scotia lowered their price objective on Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 6th. Finally, Barclays restated an “overweight” rating and issued a $130.00 target price (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.83.

Thomson Reuters Price Performance

Thomson Reuters stock opened at $108.62 on Tuesday. Thomson Reuters Corp has a 52 week low of $76.28 and a 52 week high of $180.00. The company’s 50 day moving average price is $93.65 and its two-hundred day moving average price is $92.10. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12. The stock has a market cap of $47.32 billion, a P/E ratio of 28.92, a P/E/G ratio of 1.55 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI) last released its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.03. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.Thomson Reuters’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. On average, equities analysts predict that Thomson Reuters Corp will post 4.45 earnings per share for the current year.

Thomson Reuters Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, August 19th. Thomson Reuters’s dividend payout ratio is 69.68%.

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.