Meredith Corporation (NYSE:MDP) insider John S. Zieser sold 1,924 shares of Meredith Corporation stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $57.26, for a total transaction of $110,168.24. Following the transaction, the insider now directly owns 6,800 shares in the company, valued at $389,368. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Meredith Corporation (MDP) traded down 0.62% on Tuesday, hitting $56.45. 160,658 shares of the stock traded hands. Meredith Corporation has a 52-week low of $43.85 and a 52-week high of $66.25. The firm has a market cap of $2.52 billion, a PE ratio of 13.57 and a beta of 1.22. The firm has a 50 day moving average price of $59.02 and a 200 day moving average price of $60.01.

Meredith Corporation (NYSE:MDP) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.11. Meredith Corporation had a return on equity of 18.98% and a net margin of 11.03%. The company had revenue of $445.40 million for the quarter, compared to analyst estimates of $439.61 million. During the same quarter in the prior year, the firm posted $1.08 EPS. Meredith Corporation’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that Meredith Corporation will post $3.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Tuesday, August 29th. Meredith Corporation’s dividend payout ratio (DPR) is presently 50.12%.

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MDP has been the topic of several research reports. Jefferies Group LLC reissued a “hold” rating and set a $57.00 price target on shares of Meredith Corporation in a research note on Monday, April 24th. Citigroup Inc. upgraded shares of Meredith Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $58.00 to $65.00 in a report on Tuesday, May 2nd. Zacks Investment Research cut shares of Meredith Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Benchmark Co. upgraded shares of Meredith Corporation from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Monday, June 5th. Finally, ValuEngine cut shares of Meredith Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. 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 has a consensus rating of “Buy” and a consensus target price of $63.50.

A number of institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. increased its position in shares of Meredith Corporation by 0.9% in the second quarter. Advisor Group Inc. now owns 5,398 shares of the company’s stock valued at $321,000 after buying an additional 49 shares during the period. State of Alaska Department of Revenue increased its position in shares of Meredith Corporation by 3.4% in the second 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. Lowe Brockenbrough & Co. Inc. increased its position in shares of Meredith Corporation by 2.2% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 5,860 shares of the company’s stock valued at $348,000 after buying an additional 125 shares during the period. Arizona State Retirement System increased its position in shares of Meredith Corporation by 0.8% in the first quarter. Arizona State Retirement System now owns 15,200 shares of the company’s stock valued at $982,000 after buying an additional 126 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in shares of Meredith Corporation by 0.5% in the second quarter. Mutual of America Capital Management LLC now owns 30,059 shares of the company’s stock valued at $1,787,000 after buying an additional 163 shares during the period. 97.65% of the stock is currently owned by institutional investors.

Meredith Corporation Company 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.

Insider Buying and Selling by Quarter for Meredith Corporation (NYSE:MDP)

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