Affinity Investment Advisors LLC Has $548,000 Holdings in Meredith Co. (MDP)

Affinity Investment Advisors LLC decreased its holdings in shares of Meredith Co. (NYSE:MDP) by 4.6% during the first quarter, HoldingsChannel.com reports. The fund owned 9,916 shares of the company’s stock after selling 480 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Meredith were worth $548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Quantamental Technologies LLC bought a new position in shares of Meredith in the fourth quarter worth $30,000. Smithfield Trust Co. bought a new position in shares of Meredith in the fourth quarter worth $34,000. Bremer Trust National Association bought a new position in shares of Meredith in the fourth quarter worth $41,000. Quadrant Capital Group LLC bought a new position in shares of Meredith in the first quarter worth $48,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Meredith in the first quarter worth $61,000.

MDP opened at $57.85 on Friday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 22.78 and a beta of 1.16. The company has a current ratio of 1.25, a quick ratio of 1.19 and a debt-to-equity ratio of 2.38. Meredith Co. has a 52 week low of $47.30 and a 52 week high of $62.40.

Meredith (NYSE:MDP) last released its earnings results on Friday, May 10th. The company reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.75. The business had revenue of $743.40 million for the quarter, compared to analysts’ expectations of $726.67 million. Meredith had a return on equity of 22.32% and a net margin of 2.42%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.74) earnings per share. As a group, sell-side analysts anticipate that Meredith Co. will post 7 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.30 dividend on an annualized basis and a yield of 3.98%. Meredith’s dividend payout ratio is presently 90.55%.

In related news, insider John S. Zieser sold 2,550 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $56.96, for a total value of $145,248.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.70% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on MDP. ValuEngine raised shares of Meredith from a “hold” rating to a “buy” rating in a report on Monday, April 15th. Zacks Investment Research raised shares of Meredith from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. Gabelli began coverage on shares of Meredith in a report on Thursday, February 14th. They issued a “buy” rating and a $54.97 price target on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $70.00 price target on shares of Meredith in a report on Tuesday, February 12th. Three research 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 an average rating of “Buy” and a consensus price target of $61.39.

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Meredith Profile

Meredith Corporation operates as a diversified media company in the United States, Europe, and Asia. It operates in two segments, National Media and Local Media. The National Media segment offers national consumer media brands through various media platforms, including print magazines, digital and mobile media, brand licensing activities, database-related activities, affinity marketing, and business-to-business marketing products and services.

Read More: Insider Trading

Want to see what other hedge funds are holding MDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meredith Co. (NYSE:MDP).

Institutional Ownership by Quarter for Meredith (NYSE:MDP)

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