Meredith Corporation (NYSE:MDP) CFO Joseph H. Ceryanec sold 3,200 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $71.54, for a total transaction of $228,928.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Meredith Corporation (NYSE:MDP) traded up $0.45 during trading hours on Monday, hitting $71.65. 567,700 shares of the stock were exchanged, compared to its average volume of 533,702. Meredith Corporation has a 1-year low of $50.63 and a 1-year high of $71.85. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $3,201.03, a PE ratio of 18.23, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29.

Meredith (NYSE:MDP) last announced its earnings results on Thursday, October 26th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Meredith had a net margin of 11.04% and a return on equity of 18.24%. The business had revenue of $393.00 million during the quarter, compared to analysts’ expectations of $397.50 million. During the same period in the prior year, the company earned $0.75 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. equities research analysts forecast that Meredith Corporation will post 3.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.90%. Meredith’s payout ratio is 50.36%.

MDP has been the subject of a number of research reports. Zacks Investment Research raised shares of Meredith from a “sell” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, October 31st. Wells Fargo & Company reduced their price target 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. ValuEngine cut shares of Meredith from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. JMP Securities initiated coverage on shares of Meredith in a research report on Monday, November 13th. They issued a “market perform” rating for the company. Finally, Jefferies Group reissued a “hold” rating on shares of Meredith in a research report on Sunday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Meredith presently has an average rating of “Buy” and an average target price of $71.40.

Several large investors have recently made changes to their positions in MDP. State Street Corp raised its holdings in shares of Meredith by 16.8% in the second quarter. State Street Corp now owns 4,938,340 shares of the company’s stock valued at $293,589,000 after buying an additional 710,721 shares during the last quarter. BlackRock Inc. raised its holdings in Meredith by 9.1% during the second quarter. BlackRock Inc. now owns 7,553,017 shares of the company’s stock worth $449,025,000 after purchasing an additional 627,217 shares in the last quarter. Royce & Associates LP raised its holdings in Meredith by 28.1% during the second quarter. Royce & Associates LP now owns 1,520,641 shares of the company’s stock worth $90,402,000 after purchasing an additional 333,861 shares in the last quarter. Systematic Financial Management LP raised its holdings in Meredith by 904.1% during the second quarter. Systematic Financial Management LP now owns 297,323 shares of the company’s stock worth $17,676,000 after purchasing an additional 267,713 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK raised its holdings in Meredith by 151.4% during the second quarter. Aberdeen Asset Management PLC UK now owns 351,997 shares of the company’s stock worth $20,926,000 after purchasing an additional 211,997 shares in the last quarter. 98.04% of the stock is owned by institutional investors and hedge funds.

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Meredith 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 (NYSE:MDP)

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