Meredith Corporation (MDP) Insider John S. Zieser Sells 1,924 Shares
Meredith Corporation (NYSE:MDP) insider John S. Zieser sold 1,924 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $57.26, for a total value of $110,168.24. Following the completion of the transaction, the insider now directly owns 6,800 shares in the company, valued at approximately $389,368. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Meredith Corporation (MDP) traded down 0.62% during trading on Tuesday, hitting $56.45. The stock had a trading volume of 160,658 shares. The company has a market cap of $2.52 billion, a P/E ratio of 13.57 and a beta of 1.22. The firm has a 50 day moving average of $59.02 and a 200-day moving average of $60.01. Meredith Corporation has a one year low of $43.85 and a one year high of $66.25.
Meredith Corporation (NYSE:MDP) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.11. The firm had revenue of $445.40 million for the quarter, compared to the consensus estimate of $439.61 million. Meredith Corporation had a return on equity of 18.98% and a net margin of 11.03%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 EPS. Equities analysts anticipate that Meredith Corporation will post $3.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 3.68%. Meredith Corporation’s dividend payout ratio is presently 50.12%.
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Several equities analysts have commented on the company. ValuEngine downgraded Meredith Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. Benchmark Co. raised Meredith Corporation from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Monday, June 5th. BidaskClub downgraded Meredith Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Meredith Corporation in a research report on Monday, April 24th. Finally, Citigroup Inc. raised Meredith Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $58.00 to $65.00 in a research report on Tuesday, May 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $63.50.
Several large investors have recently bought and sold shares of the stock. Neuburgh Advisers LLC increased its stake in Meredith Corporation by 15.9% in the first quarter. Neuburgh Advisers LLC now owns 1,606 shares of the company’s stock valued at $104,000 after buying an additional 220 shares in the last quarter. Bank of Montreal Can increased its stake in Meredith Corporation by 16.1% in the first quarter. Bank of Montreal Can now owns 1,739 shares of the company’s stock valued at $113,000 after buying an additional 241 shares in the last quarter. Tyers Asset Management LLC increased its stake in Meredith Corporation by 15.9% in the first quarter. Tyers Asset Management LLC now owns 2,044 shares of the company’s stock valued at $132,000 after buying an additional 280 shares in the last quarter. Strs Ohio increased its stake in Meredith Corporation by 46.7% in the first quarter. Strs Ohio now owns 2,200 shares of the company’s stock valued at $142,000 after buying an additional 700 shares in the last quarter. Finally, Invictus RG purchased a new stake in Meredith Corporation during the first quarter valued at about $154,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.
Meredith Corporation 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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