North Star Investment Management Corp. Has $2.05 Million Position in Meredith Co. (MDP)

North Star Investment Management Corp. lifted its holdings in Meredith Co. (NYSE:MDP) by 6.9% in the 4th quarter, Holdings Channel reports. The firm owned 31,025 shares of the company’s stock after buying an additional 2,000 shares during the quarter. North Star Investment Management Corp.’s holdings in Meredith were worth $2,049,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MDP. Russell Investments Group Ltd. lifted its position in Meredith by 38.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 10,703 shares of the company’s stock worth $636,000 after acquiring an additional 2,999 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Meredith by 3.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 352,658 shares of the company’s stock worth $20,966,000 after acquiring an additional 11,185 shares during the last quarter. Legal & General Group Plc lifted its position in Meredith by 10.9% during the 2nd quarter. Legal & General Group Plc now owns 45,175 shares of the company’s stock worth $2,682,000 after acquiring an additional 4,440 shares during the last quarter. Federated Investors Inc. PA lifted its position in Meredith by 3.9% during the 2nd quarter. Federated Investors Inc. PA now owns 18,748 shares of the company’s stock worth $1,115,000 after acquiring an additional 710 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in Meredith by 42.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 10,886 shares of the company’s stock worth $647,000 after acquiring an additional 3,224 shares during the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

In other news, Director Frederick B. Henry sold 1,048 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $66.50, for a total transaction of $69,692.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Edwin T. Iv Meredith sold 3,600 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $70.10, for a total transaction of $252,360.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,024 shares of company stock worth $2,443,024. Insiders own 4.00% of the company’s stock.

Meredith Co. (MDP) opened at $67.30 on Friday. Meredith Co. 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 stock has a market cap of $2,950.00, a PE ratio of 16.26, a PEG ratio of 2.40 and a beta of 1.30.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $2.08 annualized dividend and a dividend yield of 3.09%. Meredith’s payout ratio is 50.24%.

A number of research analysts have weighed in on MDP shares. Zacks Investment Research lowered shares of Meredith from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. ValuEngine raised shares of Meredith from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. Jefferies Group reissued a “hold” rating and set a $60.00 target price on shares of Meredith in a research report on Monday, October 16th. Wells Fargo & Co cut their target price on shares of Meredith from $62.00 to $54.00 and set a “market perform” rating for the company in a research report on Friday, October 27th. Finally, Citigroup lowered shares of Meredith from a “buy” rating to a “neutral” rating in a research report on Friday, December 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Meredith has a consensus rating of “Buy” and a consensus price target of $74.20.

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Meredith 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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