Thomson Reuters Co. (NYSE:TRI) Stock Holdings Lifted by Sara Bay Financial

Sara Bay Financial lifted its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,379 shares of the business services provider’s stock after buying an additional 110 shares during the period. Sara Bay Financial’s holdings in Thomson Reuters were worth $570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Thomson Reuters by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,739,858 shares of the business services provider’s stock valued at $894,442,000 after purchasing an additional 41,680 shares during the last quarter. FIL Ltd grew its stake in Thomson Reuters by 9.8% during the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock worth $730,195,000 after buying an additional 445,444 shares during the last quarter. TD Asset Management Inc increased its position in Thomson Reuters by 7.9% in the first quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider’s stock worth $630,534,000 after buying an additional 295,301 shares during the period. 1832 Asset Management L.P. lifted its stake in Thomson Reuters by 0.8% in the fourth quarter. 1832 Asset Management L.P. now owns 1,783,086 shares of the business services provider’s stock valued at $260,723,000 after buying an additional 13,747 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Thomson Reuters by 3.9% in the first quarter. Clearbridge Investments LLC now owns 1,333,533 shares of the business services provider’s stock valued at $207,804,000 after buying an additional 50,367 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of Thomson Reuters stock traded up $0.20 during trading on Monday, hitting $163.78. The stock had a trading volume of 273,623 shares, compared to its average volume of 387,541. The business has a fifty day moving average of $164.86 and a two-hundred day moving average of $161.36. The firm has a market cap of $73.65 billion, a P/E ratio of 31.16, a PEG ratio of 5.91 and a beta of 0.72. Thomson Reuters Co. has a fifty-two week low of $117.46 and a fifty-two week high of $176.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a net margin of 33.65% and a return on equity of 15.22%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the company earned $0.84 EPS. Thomson Reuters’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts expect that Thomson Reuters Co. will post 3.72 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $0.146 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Thursday, August 15th. Thomson Reuters’s dividend payout ratio (DPR) is 41.14%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TRI. Scotiabank increased their price objective on shares of Thomson Reuters from $159.00 to $164.00 and gave the stock a “sector perform” rating in a report on Friday, May 3rd. CIBC raised their price target on shares of Thomson Reuters from $152.00 to $156.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Royal Bank of Canada reduced their price objective on Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. National Bank Financial upgraded Thomson Reuters from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, April 23rd. Finally, Canaccord Genuity Group lifted their target price on Thomson Reuters from $149.00 to $156.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $171.82.

Thomson Reuters Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.