Citadel Advisors LLC boosted its position in shares of Meredith Corporation (NYSE:MDP) by 32.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,923 shares of the company’s stock after buying an additional 38,996 shares during the period. Citadel Advisors LLC owned approximately 0.36% of Meredith Corporation worth $8,314,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDP. Weaver C. Barksdale & Associates Inc. raised its position in shares of Meredith Corporation by 0.5% in the third quarter. Weaver C. Barksdale & Associates Inc. now owns 17,240 shares of the company’s stock valued at $896,000 after buying an additional 84 shares during the last quarter. Blair William & Co. IL raised its position in shares of Meredith Corporation by 1.4% in the second quarter. Blair William & Co. IL now owns 6,205 shares of the company’s stock valued at $322,000 after buying an additional 85 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Meredith Corporation by 4.7% in the third quarter. LS Investment Advisors LLC now owns 2,427 shares of the company’s stock valued at $126,000 after buying an additional 108 shares during the last quarter. Strs Ohio raised its position in shares of Meredith Corporation by 0.9% in the second quarter. Strs Ohio now owns 23,200 shares of the company’s stock valued at $1,204,000 after buying an additional 200 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Meredith Corporation by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,734 shares of the company’s stock valued at $142,000 after buying an additional 229 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.
Shares of Meredith Corporation (NYSE:MDP) traded up 1.21% on Wednesday, hitting $58.75. 160,242 shares of the stock traded hands. Meredith Corporation has a one year low of $35.03 and a one year high of $60.50. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 46.59 and a beta of 1.07. The company’s 50 day moving average is $57.28 and its 200 day moving average is $53.11.
Meredith Corporation (NYSE:MDP) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. The firm had revenue of $399.90 million for the quarter, compared to analysts’ expectations of $400.77 million. Meredith Corporation had a return on equity of 16.93% and a net margin of 3.42%. Meredith Corporation’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. On average, equities analysts forecast that Meredith Corporation will post $3.70 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were paid a $0.495 dividend. The ex-dividend date was Monday, November 28th. This represents a $1.98 dividend on an annualized basis and a yield of 3.41%. Meredith Corporation’s dividend payout ratio is currently 160.98%.
Separately, Zacks Investment Research upgraded shares of Meredith Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 12th.
In related news, Director Frederick B. Henry sold 998 shares of Meredith Corporation stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $52.00, for a total value of $51,896.00. Following the transaction, the director now owns 2,085 shares of the company’s stock, valued at approximately $108,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.40% of the stock is owned by corporate insiders.
About Meredith Corporation
Meredith Corporation is a media and marketing company. The Company operates two business segments namely local media and national media. Its national media segment includes national consumer media brands delivered via multiple media platforms including print magazines and digital and mobile media, brand licensing activities, database-related activities and business-to-business marketing products and services.
Receive News & Ratings for Meredith Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meredith Corporation and related companies with our FREE daily email newsletter.