Meredith Corporation (NYSE:MDP) insider Paul Karpowicz sold 4,291 shares of Meredith Corporation stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $56.12, for a total transaction of $240,810.92. Following the completion of the transaction, the insider now directly owns 66,473 shares of the company’s stock, valued at approximately $3,730,464.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Paul Karpowicz also recently made the following trade(s):

  • On Monday, August 14th, Paul Karpowicz sold 5,894 shares of Meredith Corporation stock. The shares were sold at an average price of $57.43, for a total transaction of $338,492.42.

Shares of Meredith Corporation (NYSE MDP) traded down 1.61% during mid-day trading on Thursday, hitting $55.05. 233,801 shares of the stock traded hands. Meredith Corporation has a 12-month low of $43.85 and a 12-month high of $66.25. The firm’s 50 day moving average price is $58.92 and its 200 day moving average price is $59.94. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 13.23 and a beta of 1.22.

Meredith Corporation (NYSE:MDP) last posted its 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 net margin of 11.03% and a return on equity of 18.98%. The firm had revenue of $445.40 million during the quarter, compared to the consensus estimate of $439.61 million. During the same period last year, the firm posted $1.08 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts predict that Meredith Corporation will post $3.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, August 29th. This represents a $2.08 annualized dividend and a yield of 3.72%. Meredith Corporation’s dividend payout ratio (DPR) is currently 50.12%.

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Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Meredith Corporation by 16,099.9% in the first quarter. BlackRock Inc. now owns 6,925,800 shares of the company’s stock valued at $447,406,000 after buying an additional 6,883,048 shares during the period. State Street Corp increased its position in Meredith Corporation by 262.5% in the first quarter. State Street Corp now owns 4,227,619 shares of the company’s stock valued at $273,107,000 after buying an additional 3,061,421 shares during the period. Bank of New York Mellon Corp increased its position in Meredith Corporation by 68.3% in the first quarter. Bank of New York Mellon Corp now owns 1,347,620 shares of the company’s stock valued at $87,057,000 after buying an additional 546,916 shares during the period. Vanguard Group Inc. increased its position in Meredith Corporation by 14.5% in the first quarter. Vanguard Group Inc. now owns 3,549,468 shares of the company’s stock valued at $229,296,000 after buying an additional 450,150 shares during the period. Finally, Royce & Associates LP increased its position in Meredith Corporation by 28.1% in the second quarter. Royce & Associates LP now owns 1,520,641 shares of the company’s stock valued at $90,402,000 after buying an additional 333,861 shares during the period. Hedge funds and other institutional investors own 97.65% of the company’s stock.

A number of research analysts have weighed in on the stock. ValuEngine cut shares of Meredith Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. Benchmark Co. raised shares of Meredith Corporation from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Monday, June 5th. BidaskClub cut shares of Meredith Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Meredith Corporation in a report on Monday, April 24th. Finally, Citigroup Inc. raised shares of Meredith Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $65.00 in a report on Tuesday, May 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $63.50.

About Meredith Corporation

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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