Meredith Corporation (NYSE:MDP) CFO Joseph H. Ceryanec sold 3,200 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $71.54, for a total value of $228,928.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of Meredith Corporation (MDP) opened at $71.20 on Wednesday. Meredith Corporation has a twelve month low of $50.63 and a twelve month high of $72.25. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $3,080.00, a price-to-earnings ratio of 18.23, a PEG ratio of 2.64 and a beta of 1.29.

Meredith (NYSE:MDP) last posted its earnings results on Thursday, October 26th. The company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. Meredith had a return on equity of 18.24% and a net margin of 11.04%. The company had revenue of $393.00 million during the quarter, compared to the consensus estimate of $397.50 million. During the same quarter last year, the firm earned $0.75 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. research analysts forecast that Meredith Corporation will post 3.39 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Wednesday, November 29th. Meredith’s dividend payout ratio is currently 50.24%.

Several equities research analysts have issued reports on the company. ValuEngine raised Meredith from a “hold” rating to a “buy” rating in a report on Monday, November 27th. Zacks Investment Research downgraded Meredith from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Jefferies Group reissued a “hold” rating on shares of Meredith in a report on Sunday, October 29th. JMP Securities assumed coverage on Meredith in a report on Monday, November 13th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company raised Meredith from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $54.00 to $76.00 in a report on Monday, November 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $71.40.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Burney Co. raised its stake in Meredith by 29.5% in the second quarter. Burney Co. now owns 23,870 shares of the company’s stock valued at $1,412,000 after purchasing an additional 5,440 shares in the last quarter. Aberdeen Asset Management PLC UK raised its stake in Meredith by 151.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 351,997 shares of the company’s stock valued at $20,926,000 after purchasing an additional 211,997 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Meredith by 77.1% in the second quarter. BNP Paribas Arbitrage SA now owns 22,815 shares of the company’s stock valued at $1,356,000 after purchasing an additional 9,936 shares in the last quarter. Royal Bank of Canada raised its stake in Meredith by 44.3% in the second quarter. Royal Bank of Canada now owns 11,349 shares of the company’s stock valued at $675,000 after purchasing an additional 3,486 shares in the last quarter. Finally, Channing Capital Management LLC raised its stake in Meredith by 14.0% in the third quarter. Channing Capital Management LLC now owns 799,034 shares of the company’s stock valued at $44,346,000 after purchasing an additional 98,014 shares in the last quarter. 98.04% of the stock is owned by institutional investors.

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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.

Insider Buying and Selling by Quarter for Meredith (NYSE:MDP)

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