Mackenzie Financial Corp Has $563.14 Million Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Key Points

• Mackenzie Financial Corp reduced its holdings in Thomson Reuters Co. by 9.7% during the first quarter, now owning approximately 3.26 million shares valued at $563.14 million.
• Analysts have raised their target prices for Thomson Reuters, with Barclays setting a target of $210.00 and Wells Fargo at $213.00, reflecting favorable sentiment towards the company's performance.
• Thomson Reuters recently announced a quarterly dividend of $0.595 per share, yielding 1.17%, with a payout ratio currently at 49.69%.

Mackenzie Financial Corp lessened its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,263,471 shares of the business services provider's stock after selling 350,616 shares during the period. Mackenzie Financial Corp owned about 0.72% of Thomson Reuters worth $563,142,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Cambridge Investment Research Advisors Inc. boosted its position in Thomson Reuters by 7.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,277 shares of the business services provider's stock valued at $1,948,000 after purchasing an additional 776 shares during the last quarter. Callan Capital LLC acquired a new stake in Thomson Reuters during the first quarter valued at $244,000. Ameriprise Financial Inc. boosted its position in Thomson Reuters by 0.9% during the fourth quarter. Ameriprise Financial Inc. now owns 33,663 shares of the business services provider's stock valued at $5,683,000 after purchasing an additional 313 shares during the last quarter. Captrust Financial Advisors boosted its position in Thomson Reuters by 4.1% during the fourth quarter. Captrust Financial Advisors now owns 2,923 shares of the business services provider's stock valued at $469,000 after purchasing an additional 115 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Thomson Reuters by 173.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,099 shares of the business services provider's stock valued at $4,164,000 after purchasing an additional 15,301 shares during the last quarter. Institutional investors and hedge funds own 17.31% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TRI. Barclays raised their target price on Thomson Reuters from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Wells Fargo & Company raised their target price on Thomson Reuters from $187.00 to $213.00 and gave the company an "equal weight" rating in a report on Monday, June 16th. JPMorgan Chase & Co. raised their target price on Thomson Reuters from $177.00 to $178.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. CIBC raised their target price on Thomson Reuters from $174.00 to $201.00 and gave the company an "outperformer" rating in a report on Monday, July 21st. Finally, Bank of America initiated coverage on Thomson Reuters in a research note on Thursday, April 10th. They issued a "neutral" rating and a $180.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Thomson Reuters currently has an average rating of "Hold" and an average price target of $190.00.

Thomson Reuters Stock Performance

Thomson Reuters stock opened at $203.45 on Monday. The stock has a market cap of $91.66 billion, a P/E ratio of 41.61, a price-to-earnings-growth ratio of 5.67 and a beta of 0.76. The firm's fifty day moving average price is $198.88 and its 200-day moving average price is $182.73. Thomson Reuters Co. has a fifty-two week low of $150.01 and a fifty-two week high of $218.42. 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 (NYSE:TRI - Get Free Report) TSE: TRI last announced its earnings results on Thursday, May 1st. The business services provider reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.07. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $1.11 EPS. The company's revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts expect that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.595 per share. The ex-dividend date was Thursday, May 15th. This represents a $2.38 dividend on an annualized basis and a yield of 1.17%. Thomson Reuters's dividend payout ratio is currently 49.69%.

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.

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