Geode Capital Management LLC Buys 76,800 Shares of Thomson Reuters Corp $TRI

Key Points

• Geode Capital Management increased its Thomson Reuters stake by 3.6% in the fourth quarter, buying 76,800 additional shares and bringing its holdings to 2.22 million shares worth about $297.5 million.
• Thomson Reuters recently reported better-than-expected quarterly results, with EPS of $1.23 versus $1.18 expected and revenue of $2.04 billion, up 9.8% year over year.
• The company also declared a quarterly dividend of $0.655 per share, implying an annualized yield of 2.8%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $144.84.

Geode Capital Management LLC boosted its stake in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,224,706 shares of the company's stock after buying an additional 76,800 shares during the quarter. Geode Capital Management LLC owned approximately 0.50% of Thomson Reuters worth $297,536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Montag A & Associates Inc. bought a new stake in Thomson Reuters during the 4th quarter valued at about $43,000. Westside Investment Management Inc. lifted its holdings in Thomson Reuters by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the company's stock valued at $52,000 after buying an additional 169 shares in the last quarter. UMB Bank n.a. lifted its holdings in Thomson Reuters by 21.2% during the 3rd quarter. UMB Bank n.a. now owns 441 shares of the company's stock valued at $69,000 after buying an additional 77 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Thomson Reuters by 1,011.7% during the 4th quarter. Hantz Financial Services Inc. now owns 667 shares of the company's stock valued at $88,000 after buying an additional 607 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Thomson Reuters by 72.8% during the 4th quarter. Allworth Financial LP now owns 700 shares of the company's stock valued at $92,000 after buying an additional 295 shares in the last quarter. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Trading Up 8.6%

NASDAQ TRI opened at $93.96 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.11. The firm has a market cap of $40.99 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.77. The company has a 50 day moving average price of $89.87 and a 200 day moving average price of $108.56. Thomson Reuters Corp has a 52 week low of $78.60 and a 52 week high of $218.42.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.18 by $0.05. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. Thomson Reuters's revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 EPS. As a group, sell-side analysts forecast that Thomson Reuters Corp will post 4.44 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, May 20th. Thomson Reuters's payout ratio is 76.16%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TRI. The Goldman Sachs Group set a $112.66 price objective on shares of Thomson Reuters and gave the company a "buy" rating in a report on Saturday, February 7th. Weiss Ratings lowered shares of Thomson Reuters from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, April 20th. Canaccord Genuity Group reduced their price target on shares of Thomson Reuters from $176.61 to $131.95 and set a "buy" rating for the company in a report on Wednesday, February 4th. JPMorgan Chase & Co. reduced their price target on shares of Thomson Reuters from $162.40 to $101.50 and set a "neutral" rating for the company in a report on Friday, February 6th. Finally, Royal Bank Of Canada upgraded shares of Thomson Reuters from a "sector perform" rating to an "outperform" rating and set a $127.89 price target for the company in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.84.

About Thomson Reuters

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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