Schwab Charles Investment Management Inc. raised its holdings in Time Inc (NYSE:TIME) by 16.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,232,190 shares of the company’s stock after purchasing an additional 172,462 shares during the quarter. Schwab Charles Investment Management Inc. owned 1.24% of Time worth $16,635,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. AMG Funds LLC lifted its stake in shares of Time by 5.7% in the 2nd quarter. AMG Funds LLC now owns 143,337 shares of the company’s stock valued at $2,057,000 after acquiring an additional 7,788 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Time by 5.2% in the 2nd quarter. Wells Fargo & Company MN now owns 208,596 shares of the company’s stock valued at $2,993,000 after acquiring an additional 10,342 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Time by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 8,687,917 shares of the company’s stock valued at $124,672,000 after acquiring an additional 154,543 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Time in the 2nd quarter valued at $309,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Time by 140.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 142,601 shares of the company’s stock valued at $2,046,000 after acquiring an additional 83,174 shares during the last quarter. 87.82% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on TIME. BidaskClub upgraded Time from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 28th. ValuEngine raised Time from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. Citigroup lowered Time from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. Gabelli lowered Time from a “buy” rating to a “sell” rating and set a $20.00 target price for the company. in a research report on Tuesday, November 28th. Finally, Evercore ISI began coverage on Time in a research report on Friday, November 17th. They set an “outperform” rating and a $7.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $14.00.
Time (NYSE:TIME) last announced its earnings results on Thursday, November 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.08. The business had revenue of $679.00 million during the quarter, compared to analyst estimates of $693.65 million. Time had a positive return on equity of 7.53% and a negative net margin of 0.10%. Time’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. equities research analysts anticipate that Time Inc will post 1.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Wednesday, November 29th. Time’s dividend payout ratio is currently -800.00%.
Time Company Profile
Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.
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