Meredith Co. (MDP) Holdings Raised by Lido Advisors LLC

Lido Advisors LLC raised its position in Meredith Co. (NYSE:MDP) by 18.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,165 shares of the company’s stock after purchasing an additional 1,105 shares during the period. Lido Advisors LLC’s holdings in Meredith were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Meredith by 2.9% in the 4th quarter. BlackRock Inc. now owns 5,640,273 shares of the company’s stock valued at $292,955,000 after purchasing an additional 159,486 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Meredith by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,642,663 shares of the company’s stock valued at $185,957,000 after purchasing an additional 55,167 shares during the last quarter. Vanguard Group Inc increased its position in shares of Meredith by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 3,642,663 shares of the company’s stock valued at $185,957,000 after purchasing an additional 55,167 shares during the last quarter. Ceredex Value Advisors LLC increased its position in shares of Meredith by 43.7% in the 4th quarter. Ceredex Value Advisors LLC now owns 2,686,195 shares of the company’s stock valued at $139,521,000 after purchasing an additional 817,094 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of Meredith by 4.7% in the 4th quarter. Royce & Associates LP now owns 2,357,915 shares of the company’s stock valued at $122,470,000 after purchasing an additional 104,804 shares during the last quarter.

In other Meredith news, insider John S. Zieser sold 2,550 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $56.96, for a total transaction of $145,248.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 4.70% of the company’s stock.

NYSE MDP opened at $57.40 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.19 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $2.59 billion, a P/E ratio of 22.60 and a beta of 1.17. Meredith Co. has a 12 month low of $47.30 and a 12 month high of $62.40.

Meredith (NYSE:MDP) last posted its earnings results on Monday, February 11th. The company reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.24. The firm had revenue of $853.50 million for the quarter, compared to the consensus estimate of $859.28 million. Meredith had a negative net margin of 1.89% and a positive return on equity of 16.96%. The company’s revenue was up 104.3% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. On average, research analysts forecast that Meredith Co. will post 3.95 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were given a dividend of $0.575 per share. This is an increase from Meredith’s previous quarterly dividend of $0.55. This represents a $2.30 annualized dividend and a yield of 4.01%. The ex-dividend date was Wednesday, February 27th. Meredith’s dividend payout ratio (DPR) is presently 90.55%.

A number of research analysts recently commented on the stock. Citigroup increased their target price on shares of Meredith from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, November 29th. Zacks Investment Research raised shares of Meredith from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday, January 2nd. Benchmark reaffirmed a “buy” rating and issued a $70.00 target price on shares of Meredith in a research report on Tuesday, February 12th. Gabelli assumed coverage on shares of Meredith in a research report on Thursday, February 14th. They issued a “buy” rating and a $54.97 target price on the stock. Finally, Wolfe Research assumed coverage on shares of Meredith in a research report on Friday, December 7th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $61.39.

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About Meredith

Meredith Corporation operates as a diversified media company in the United States, Europe, and Asia. It operates in two segments, National Media and Local Media. The National Media segment offers national consumer media brands through various media platforms, including print magazines, digital and mobile media, brand licensing activities, database-related activities, affinity marketing, and business-to-business marketing products and services.

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Institutional Ownership by Quarter for Meredith (NYSE:MDP)

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