Shares of Meredith Corp. (NYSE:MDP) traded down 2.7% on Tuesday . The company traded as low as $50.15 and last traded at $50.30, with a volume of 122,625 shares. The stock had previously closed at $51.67.

A number of analysts recently weighed in on the stock. Benchmark Co. increased their price objective on shares of Meredith Corp. from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Zacks Investment Research cut shares of Meredith Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $54.20.

The company has a market cap of $2.22 billion, a PE ratio of 66.55 and a beta of 1.07. The company’s 50-day moving average is $53.11 and its 200-day moving average is $50.72.

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Meredith Corp. (NYSE:MDP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. The business had revenue of $435.78 million for the quarter, compared to the consensus estimate of $437.78 million. Meredith Corp. had a net margin of 2.06% and a return on equity of 15.66%. Meredith Corp.’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. Equities analysts forecast that Meredith Corp. will post $3.70 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.495 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.98 annualized dividend and a dividend yield of 3.97%. Meredith Corp.’s payout ratio is 275.00%.

In other Meredith Corp. news, CFO Joseph H. Ceryanec sold 4,554 shares of Meredith Corp. stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $54.13, for a total transaction of $246,508.02. Following the sale, the chief financial officer now owns 31,205 shares in the company, valued at $1,689,126.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Zieser sold 1,206 shares of Meredith Corp. stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $55.00, for a total transaction of $66,330.00. Following the sale, the insider now owns 18,000 shares in the company, valued at approximately $990,000. The disclosure for this sale can be found here. 11.24% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of MDP. Blair William & Co. IL increased its stake in Meredith Corp. by 1.4% in the second quarter. Blair William & Co. IL now owns 6,205 shares of the company’s stock worth $322,000 after buying an additional 85 shares in the last quarter. AXA increased its stake in Meredith Corp. by 1.5% in the first quarter. AXA now owns 6,900 shares of the company’s stock worth $328,000 after buying an additional 100 shares in the last quarter. Strs Ohio increased its stake in Meredith Corp. by 0.9% in the second quarter. Strs Ohio now owns 23,200 shares of the company’s stock worth $1,204,000 after buying an additional 200 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Meredith Corp. by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,734 shares of the company’s stock worth $142,000 after buying an additional 229 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in Meredith Corp. by 3.4% in the second quarter. Ameritas Investment Partners Inc. now owns 8,784 shares of the company’s stock worth $456,000 after buying an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.

Meredith Corp. Company Profile

Meredith Corporation is a media and marketing company. The Company operates two business segments namely local media and national media. Its national media segment includes national consumer media brands delivered via multiple media platforms including print magazines and digital and mobile media, brand licensing activities, database-related activities and business-to-business marketing products and services.

5 Day Chart for NYSE:MDP

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