Victory Capital Management Inc. acquired a new stake in Meredith Corporation (NYSE:MDP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,732 shares of the company’s stock, valued at approximately $707,000.

Other hedge funds also recently modified their holdings of the company. LS Investment Advisors LLC lifted its holdings in shares of Meredith Corporation by 20.8% in the 2nd quarter. LS Investment Advisors LLC now owns 2,951 shares of the company’s stock valued at $175,000 after buying an additional 508 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Meredith Corporation by 3.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,050 shares of the company’s stock valued at $181,000 after buying an additional 100 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of Meredith Corporation in the 1st quarter valued at about $224,000. Crossmark Global Holdings Inc. acquired a new position in shares of Meredith Corporation in the 3rd quarter valued at about $207,000. Finally, Flinton Capital Management LLC lifted its holdings in shares of Meredith Corporation by 53.4% in the 2nd quarter. Flinton Capital Management LLC now owns 3,808 shares of the company’s stock valued at $226,000 after buying an additional 1,326 shares during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

MDP has been the subject of several analyst reports. Zacks Investment Research raised Meredith Corporation from a “sell” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, October 31st. Wells Fargo & Company decreased their price objective on Meredith Corporation from $62.00 to $54.00 and set a “market perform” rating for the company in a report on Friday, October 27th. ValuEngine cut Meredith Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating on shares of Meredith Corporation in a report on Sunday, October 29th. Finally, JMP Securities initiated coverage on Meredith Corporation in a report on Monday, November 13th. They issued a “market perform” rating for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $60.60.

Shares of Meredith Corporation (MDP) traded up $0.85 during mid-day trading on Friday, hitting $61.00. The stock had a trading volume of 123,375 shares, compared to its average volume of 581,305. The firm has a market cap of $2,687.26, a PE ratio of 15.31, a PEG ratio of 4.55 and a beta of 1.20. Meredith Corporation has a fifty-two week low of $50.63 and a fifty-two week high of $66.25. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 0.64.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $2.08 dividend on an annualized basis and a yield of 3.41%. Meredith Corporation’s payout ratio is 50.36%.

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Meredith Corporation 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.

Institutional Ownership by Quarter for Meredith Corporation (NYSE:MDP)

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