Federation des caisses Desjardins du Quebec Sells 3,244 Shares of Thomson Reuters Co. $TRI

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in Thomson Reuters Co. by 1.3%, now holding approximately $41.07 million worth of shares.
• Thomson Reuters reported earnings of $0.87 per share for the last quarter, surpassing analysts' expectations, and saw a 2.6% year-over-year revenue increase to $1.81 billion.
• Several analysts have upgraded their ratings on Thomson Reuters, with consensus target prices ranging from $181 to $285, indicating a "Moderate Buy" sentiment among market experts.

Federation des caisses Desjardins du Quebec trimmed its holdings in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,454 shares of the business services provider's stock after selling 3,244 shares during the period. Federation des caisses Desjardins du Quebec owned about 0.05% of Thomson Reuters worth $41,072,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Rhumbline Advisers grew its stake in Thomson Reuters by 1.5% in the first quarter. Rhumbline Advisers now owns 4,456 shares of the business services provider's stock worth $770,000 after purchasing an additional 68 shares during the period. SBI Securities Co. Ltd. grew its stake in Thomson Reuters by 41.3% in the first quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider's stock worth $41,000 after purchasing an additional 69 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in Thomson Reuters by 25.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider's stock worth $71,000 after purchasing an additional 84 shares during the period. Compound Planning Inc. grew its stake in Thomson Reuters by 5.5% in the first quarter. Compound Planning Inc. now owns 1,919 shares of the business services provider's stock worth $332,000 after purchasing an additional 100 shares during the period. Finally, Sara Bay Financial grew its stake in shares of Thomson Reuters by 3.3% in the first quarter. Sara Bay Financial now owns 3,275 shares of the business services provider's stock worth $560,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company's stock.

Thomson Reuters Stock Performance

Shares of NYSE TRI traded down $4.13 during trading on Friday, hitting $174.64. The company had a trading volume of 1,008,355 shares, compared to its average volume of 894,681. The firm has a market capitalization of $78.70 billion, a P/E ratio of 35.71, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The stock has a 50 day simple moving average of $190.99 and a 200 day simple moving average of $185.50. Thomson Reuters Co. has a 12 month low of $151.60 and a 12 month high of $218.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the company posted $0.85 EPS. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a $0.595 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.4%. Thomson Reuters's payout ratio is 65.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TRI shares. TD Securities raised Thomson Reuters from a "hold" rating to a "buy" rating and increased their target price for the stock from $275.00 to $285.00 in a research note on Thursday, August 28th. CIBC raised Thomson Reuters from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 19th. Wells Fargo & Company cut their target price on Thomson Reuters from $213.00 to $187.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Scotiabank raised Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and increased their target price for the stock from $188.00 to $200.00 in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada cut their target price on Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $201.90.

About Thomson Reuters

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.