BB&T Securities LLC increased its position in shares of Meredith Co. (NYSE:MDP) by 5.9% in the 4th quarter, HoldingsChannel reports. The firm owned 61,321 shares of the company’s stock after purchasing an additional 3,406 shares during the period. BB&T Securities LLC’s holdings in Meredith were worth $4,050,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Strs Ohio increased its holdings in Meredith by 314.3% in the fourth quarter. Strs Ohio now owns 2,900 shares of the company’s stock valued at $191,000 after buying an additional 2,200 shares in the last quarter. Shelton Capital Management purchased a new position in Meredith in the fourth quarter valued at about $202,000. Landscape Capital Management L.L.C. purchased a new position in Meredith in the fourth quarter valued at about $205,000. Bbva Compass Bancshares Inc. purchased a new position in Meredith in the fourth quarter valued at about $208,000. Finally, Ausdal Financial Partners Inc. purchased a new position in Meredith in the fourth quarter valued at about $212,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

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Meredith Co. (NYSE MDP) opened at $52.85 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.10 and a current ratio of 1.15. Meredith Co. has a 12 month low of $50.63 and a 12 month high of $72.25. The firm has a market cap of $2,406.69, a P/E ratio of 8.75, a PEG ratio of 1.45 and a beta of 1.32.

Meredith (NYSE:MDP) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.25. Meredith had a net margin of 16.41% and a return on equity of 16.72%. The business had revenue of $417.70 million during the quarter, compared to analysts’ expectations of $414.97 million. During the same period last year, the company posted $1.30 EPS. The company’s revenue was down 5.6% on a year-over-year basis. research analysts predict that Meredith Co. will post 4.65 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.12%. This is a boost from Meredith’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, February 27th. Meredith’s dividend payout ratio (DPR) is 36.09%.

In other Meredith news, Director Donald C. Berg acquired 3,500 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was acquired at an average cost of $57.50 per share, with a total value of $201,250.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.00% of the company’s stock.

A number of research analysts have issued reports on MDP shares. Zacks Investment Research raised shares of Meredith from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a report on Thursday, January 4th. Gabelli raised shares of Meredith from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. Benchmark reaffirmed a “buy” rating on shares of Meredith in a report on Tuesday, January 30th. Citigroup cut shares of Meredith from a “buy” rating to a “neutral” rating in a report on Friday, December 1st. Finally, Wells Fargo raised shares of Meredith from a “market perform” rating to an “outperform” rating and increased their target price for the company from $54.00 to $76.00 in a report on Monday, November 27th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $73.00.

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Meredith Company Profile

Meredith Corporation is a diversified media company. The Company is focused primarily on the home and family marketplace. The Company operates through two segments: Local Media and National Media. As of June 30, 2016, the Company’s Local Media segment includes 16 owned television stations, one managed television station and related digital and mobile media operations.

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Institutional Ownership by Quarter for Meredith (NYSE:MDP)

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