Fairtree Asset Management Pty Ltd Invests $1.34 Million in Thomson Reuters Corp $TRI

Key Points

• Fairtree Asset Management acquired 16,405 Thomson Reuters shares during the second quarter, valued at approximately $1.34 million. Institutional investors collectively own 17.31% of the company.
• Thomson Reuters reported quarterly earnings of $0.99 per share, beating estimates by $0.03, while revenue rose 9.5% year over year to $1.93 billion.
• The company declared a quarterly dividend of $0.655 per share, equivalent to $2.62 annually and a 2.5% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $142.83.

Fairtree Asset Management Pty Ltd acquired a new stake in Thomson Reuters Corp (NASDAQ:TRI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,405 shares of the company's stock, valued at approximately $1,340,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new stake in shares of Thomson Reuters in the fourth quarter valued at about $30,000. Timmons Wealth Management LLC purchased a new position in shares of Thomson Reuters during the 4th quarter worth approximately $42,000. Montag A & Associates Inc. purchased a new position in shares of Thomson Reuters during the 4th quarter worth approximately $43,000. Western Wealth Management LLC acquired a new position in shares of Thomson Reuters during the 1st quarter worth approximately $48,000. Finally, J.Safra Asset Management Corp purchased a new stake in Thomson Reuters in the 4th quarter valued at approximately $56,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Price Performance

TRI opened at $105.88 on Friday. Thomson Reuters Corp has a 52-week low of $76.28 and a 52-week high of $180.00. The company has a 50 day moving average of $92.60 and a two-hundred day moving average of $92.03. The company has a market cap of $46.12 billion, a P/E ratio of 28.19, a P/E/G ratio of 1.54 and a beta of 0.75. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12.

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

Thomson Reuters Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, August 19th. Thomson Reuters's dividend payout ratio is currently 69.68%.

Analyst Ratings Changes

Several analysts have recently issued reports on TRI shares. TD Securities restated a "buy" rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Bank of America reduced their target price on shares of Thomson Reuters from $115.00 to $98.00 and set a "neutral" rating on the stock in a report on Tuesday, May 19th. Barclays reiterated an "overweight" rating and set a $130.00 price target (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. Weiss Ratings downgraded shares of Thomson Reuters from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, June 23rd. Finally, Scotia lowered their target price on shares of Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $142.83.

Thomson Reuters Company 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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