Thomson Reuters Co. (NYSE:TRI) Shares Sold by Cumberland Partners Ltd

Key Points

• Cumberland Partners Ltd reduced its holdings in Thomson Reuters by 1.5% in Q1, resulting in ownership of 113,681 shares valued at approximately $19.6 million.
• Thomson Reuters reported $1.12 earnings per share for the recent quarter, surpassing analysts’ expectations, while total revenue was slightly below estimates at $1.90 billion.
• The stock currently has a consensus rating of "Hold" among analysts, with a target price averaging $193, reflecting mixed sentiment in the market.

Cumberland Partners Ltd trimmed its position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 113,681 shares of the business services provider's stock after selling 1,712 shares during the quarter. Thomson Reuters comprises about 1.5% of Cumberland Partners Ltd's investment portfolio, making the stock its 21st largest holding. Cumberland Partners Ltd's holdings in Thomson Reuters were worth $19,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mackenzie Financial Corp boosted its stake in Thomson Reuters by 139.5% during the 4th quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock worth $1,370,564,000 after purchasing an additional 4,977,006 shares during the last quarter. TD Asset Management Inc boosted its stake in Thomson Reuters by 15.7% during the 1st quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock worth $951,477,000 after purchasing an additional 750,063 shares during the last quarter. Geode Capital Management LLC boosted its stake in Thomson Reuters by 74.3% during the 4th quarter. Geode Capital Management LLC now owns 1,315,080 shares of the business services provider's stock worth $214,236,000 after purchasing an additional 560,450 shares during the last quarter. GAMMA Investing LLC boosted its stake in Thomson Reuters by 16,802.9% during the 1st quarter. GAMMA Investing LLC now owns 116,799 shares of the business services provider's stock worth $20,181,000 after purchasing an additional 116,108 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Thomson Reuters by 111.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 186,426 shares of the business services provider's stock worth $29,899,000 after acquiring an additional 98,441 shares during the period. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Price Performance

NYSE:TRI traded down $4.00 during trading hours on Tuesday, hitting $199.82. The company's stock had a trading volume of 1,430,716 shares, compared to its average volume of 827,203. The business's 50-day moving average is $199.62 and its two-hundred day moving average is $184.60. The company has a market capitalization of $90.05 billion, a PE ratio of 40.86, a PEG ratio of 5.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. Thomson Reuters Co. has a 52-week low of $151.60 and a 52-week high of $218.42.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Bank of America initiated coverage on Thomson Reuters in a report on Thursday, April 10th. They set a "neutral" rating and a $180.00 price target on the stock. Scotiabank reiterated a "sector perform" rating and set a $188.00 price target on shares of Thomson Reuters in a research note on Friday, May 2nd. JPMorgan Chase & Co. boosted their price target on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. TD Securities reaffirmed a "hold" rating on shares of Thomson Reuters in a report on Tuesday, July 15th. Finally, CIBC upped their price target on Thomson Reuters from $174.00 to $201.00 and gave the company an "outperformer" rating in a report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $193.00.

Thomson Reuters Company 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.