1,314,063 Shares in Thomson Reuters Corp $TRI Bought by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board acquired 1.31 million Thomson Reuters shares valued at approximately $107.2 million, representing about 0.30% of the company. Institutional investors collectively own 17.31% of TRI.
• Thomson Reuters exceeded quarterly expectations, reporting $0.99 EPS versus a $0.96 estimate and $1.93 billion in revenue, up 9.5% year over year. The company also announced a quarterly dividend of $0.655 per share, yielding approximately 2.6% annually.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus and an average price target of $142.83, compared with its recent price of $102.45.

Canada Pension Plan Investment Board bought a new position in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,314,063 shares of the company's stock, valued at approximately $107,223,000. Canada Pension Plan Investment Board owned approximately 0.30% of Thomson Reuters at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Thomson Reuters by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 5,776,640 shares of the company's stock worth $762,320,000 after buying an additional 85,684 shares during the period. TD Asset Management Inc boosted its position in Thomson Reuters by 0.7% during the 4th quarter. TD Asset Management Inc now owns 4,664,372 shares of the company's stock worth $616,342,000 after acquiring an additional 33,418 shares during the last quarter. TLT Family Holdco ULC acquired a new position in Thomson Reuters during the 2nd quarter worth approximately $865,442,000. SEG Family Corp. bought a new position in shares of Thomson Reuters during the 2nd quarter worth approximately $659,930,000. Finally, Morgan Stanley grew its stake in shares of Thomson Reuters by 31.2% during the 4th quarter. Morgan Stanley now owns 2,802,312 shares of the company's stock worth $369,597,000 after acquiring an additional 665,743 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Thomson Reuters Price Performance

NASDAQ:TRI opened at $102.45 on Thursday. Thomson Reuters Corp has a 1-year low of $76.28 and a 1-year high of $180.00. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $94.57 and a 200 day simple moving average of $92.26. The stock has a market capitalization of $44.63 billion, a PE ratio of 27.27, a P/E/G ratio of 1.53 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The company's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 earnings per share. On average, research analysts expect that Thomson Reuters Corp will post 4.45 EPS for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Thomson Reuters's dividend payout ratio is presently 69.68%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. TD Securities reissued a "buy" rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Weiss Ratings raised shares of Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday. Scotiabank reiterated a "sector outperform" rating and issued a $135.00 price target on shares of Thomson Reuters in a research note on Thursday, August 6th. Canaccord Genuity Group cut their price target on shares of Thomson Reuters from $134.00 to $132.50 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Finally, Wells Fargo & Company set a $85.00 price objective on Thomson Reuters and gave the company an "equal weight" rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $142.83.

Thomson Reuters Profile

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.

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