Meredith Corporation (NYSE:MDP) Director Meredith D. Mell Frazier sold 22,176 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $69.85, for a total value of $1,548,993.60. Following the completion of the transaction, the director now owns 6,000 shares in the company, valued at $419,100. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Meredith Corporation (MDP) traded up $0.15 during mid-day trading on Wednesday, reaching $70.50. The company had a trading volume of 245,900 shares, compared to its average volume of 531,207. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 0.64. Meredith Corporation has a one year low of $50.63 and a one year high of $72.25. The company has a market cap of $3,142.96, a price-to-earnings ratio of 17.90, a PEG ratio of 2.60 and a beta of 1.29.

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

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were paid a $0.52 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.95%. Meredith’s dividend payout ratio (DPR) is currently 50.36%.

A number of brokerages have weighed in on MDP. Jefferies Group upgraded Meredith from a “hold” rating to a “buy” rating and upped their target price for the stock from $56.00 to $80.00 in a research note on Tuesday, November 28th. ValuEngine upgraded Meredith from a “hold” rating to a “buy” rating in a report on Monday, November 27th. Citigroup cut Meredith from a “buy” rating to a “neutral” rating in a report on Friday, December 1st. Zacks Investment Research upgraded Meredith from a “sell” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, October 31st. Finally, BidaskClub cut Meredith from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $71.40.

Hedge funds have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Meredith in the 3rd quarter worth $167,000. Janney Montgomery Scott LLC purchased a new position in shares of Meredith in the 3rd quarter worth $204,000. Crossmark Global Holdings Inc. purchased a new position in shares of Meredith in the 3rd quarter worth $207,000. Flinton Capital Management LLC boosted its stake in shares of Meredith by 53.4% in the 2nd quarter. Flinton Capital Management LLC now owns 3,808 shares of the company’s stock worth $226,000 after buying an additional 1,326 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its stake in shares of Meredith by 54.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,864 shares of the company’s stock worth $230,000 after buying an additional 1,364 shares during the last quarter. Hedge funds and other institutional investors own 97.25% of the company’s stock.

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About Meredith

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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