Municipal Employees Retirement System of Michigan Reduces Holdings in Time Warner Inc. (TWX)
Municipal Employees Retirement System of Michigan lessened its stake in Time Warner Inc. (NYSE:TWX) by 15.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,190 shares of the media conglomerate’s stock after selling 5,230 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Time Warner were worth $2,888,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Time Warner by 2.3% in the second quarter. Vanguard Group Inc. now owns 49,843,065 shares of the media conglomerate’s stock worth $5,004,741,000 after acquiring an additional 1,116,818 shares in the last quarter. BlackRock Inc. grew its position in Time Warner by 4.0% in the second quarter. BlackRock Inc. now owns 44,524,027 shares of the media conglomerate’s stock worth $4,470,656,000 after acquiring an additional 1,696,681 shares in the last quarter. State Street Corp grew its position in Time Warner by 2.1% in the first quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock worth $3,199,990,000 after acquiring an additional 688,860 shares in the last quarter. Franklin Resources Inc. grew its position in Time Warner by 0.4% in the second quarter. Franklin Resources Inc. now owns 12,344,260 shares of the media conglomerate’s stock worth $1,239,484,000 after acquiring an additional 51,596 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Time Warner by 8.3% in the first quarter. Geode Capital Management LLC now owns 7,281,041 shares of the media conglomerate’s stock worth $710,380,000 after acquiring an additional 556,674 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.
TWX has been the subject of several recent research reports. BidaskClub downgraded shares of Time Warner from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada reissued a “hold” rating and issued a $102.00 target price on shares of Time Warner in a research report on Friday, October 27th. BMO Capital Markets reissued a “hold” rating and issued a $108.00 target price on shares of Time Warner in a research report on Wednesday, September 13th. KeyCorp reissued a “hold” rating on shares of Time Warner in a research report on Tuesday, October 17th. Finally, Cowen and Company reissued a “hold” rating and issued a $107.50 target price on shares of Time Warner in a research report on Thursday, August 3rd. Twenty-three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $103.93.
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Shares of Time Warner Inc. (TWX) traded down $1.87 during mid-day trading on Monday, hitting $88.73. 8,767,631 shares of the stock were exchanged, compared to its average volume of 4,485,041. Time Warner Inc. has a 52 week low of $85.77 and a 52 week high of $103.90. The firm has a market cap of $68,910.00, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.43 and a beta of 0.98. The company has a current ratio of 1.48, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.23. Time Warner had a net margin of 13.59% and a return on equity of 18.57%. The company had revenue of $7.60 billion during the quarter, compared to analysts’ expectations of $7.40 billion. During the same quarter in the prior year, the company posted $1.83 EPS. The business’s revenue was up 6.0% on a year-over-year basis. research analysts forecast that Time Warner Inc. will post 6.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were paid a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, October 6th. Time Warner’s dividend payout ratio is 30.61%.
Time Warner Profile
Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
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