Burkett Asset Management Ltd Makes New $1.69 Million Investment in Thomson Reuters Corp $TRI

Burkett Asset Management Ltd purchased a new position in Thomson Reuters Corp (NASDAQ:TRI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,787 shares of the company’s stock, valued at approximately $1,690,000. Thomson Reuters comprises about 1.7% of Burkett Asset Management Ltd’s investment portfolio, making the stock its 21st largest position.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Thomson Reuters by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company’s stock worth $762,320,000 after purchasing an additional 85,684 shares during the last quarter. ING Groep NV bought a new stake in Thomson Reuters in the third quarter worth $3,667,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Thomson Reuters in the third quarter worth $5,593,000. Bank of Nova Scotia raised its stake in shares of Thomson Reuters by 16.5% during the third quarter. Bank of Nova Scotia now owns 435,265 shares of the company’s stock valued at $67,612,000 after acquiring an additional 61,597 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Thomson Reuters during the third quarter valued at about $4,988,000. 17.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. TD Securities reaffirmed a “buy” rating on shares of Thomson Reuters in a research note on Wednesday, May 6th. Bank of America lowered their price objective on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, May 19th. UBS Group set a $185.74 price objective on shares of Thomson Reuters and gave the company a “buy” rating in a research note on Thursday, April 23rd. Wells Fargo & Company upped their price objective on shares of Thomson Reuters from $87.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.84.

Thomson Reuters Price Performance

TRI stock opened at $80.25 on Friday. Thomson Reuters Corp has a 1 year low of $78.60 and a 1 year high of $218.42. The company has a market cap of $35.01 billion, a P/E ratio of 23.35, a PEG ratio of 1.22 and a beta of 0.77. The firm has a 50-day moving average of $88.63 and a 200 day moving average of $105.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. Thomson Reuters’s revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts forecast that Thomson Reuters Corp will post 4.44 EPS for the current year.

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, May 20th. Thomson Reuters’s dividend payout ratio is presently 76.16%.

About Thomson Reuters

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.