Millennium Management LLC Grows Holdings in Thomson Reuters Co. $TRI

Key Points

• Millennium Management LLC significantly increased its stake in Thomson Reuters by 365.6% in the first quarter, holding 894,074 shares worth approximately $154.5 million.
• Thomson Reuters recently reported a quarterly EPS of $0.87, exceeding estimates and marking a 2.6% revenue growth year-over-year, with total revenue of $1.81 billion.
• The company declared a quarterly dividend of $0.595, translating to an annualized yield of 1.4%, with a payout ratio of 65.75% as of its most recent announcement.

Millennium Management LLC raised its position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 365.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 894,074 shares of the business services provider's stock after purchasing an additional 702,036 shares during the period. Millennium Management LLC owned approximately 0.20% of Thomson Reuters worth $154,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRI. Mackenzie Financial Corp increased its position in shares of Thomson Reuters by 139.5% during the fourth quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock worth $1,370,564,000 after buying an additional 4,977,006 shares during the period. TD Asset Management Inc grew its position in shares of Thomson Reuters by 15.7% in the first quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider's stock valued at $951,477,000 after purchasing an additional 750,063 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Thomson Reuters by 97.9% in the first quarter. Canada Pension Plan Investment Board now owns 414,960 shares of the business services provider's stock worth $71,620,000 after buying an additional 205,306 shares in the last quarter. Junto Capital Management LP bought a new position in shares of Thomson Reuters during the first quarter valued at about $34,422,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Thomson Reuters by 55.7% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 403,243 shares of the business services provider's stock valued at $69,597,000 after buying an additional 144,233 shares during the period. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Stock Up 1.4%

NYSE:TRI traded up $2.30 during trading hours on Thursday, hitting $172.79. The company's stock had a trading volume of 287,333 shares, compared to its average volume of 892,752. Thomson Reuters Co. has a 52-week low of $151.60 and a 52-week high of $218.42. The stock has a market capitalization of $77.87 billion, a P/E ratio of 35.35, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $188.89 and a 200-day moving average of $185.46.

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

Thomson Reuters Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $0.595 dividend. The ex-dividend date of this dividend was 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 currently 65.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TD Securities upgraded Thomson Reuters from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $275.00 to $285.00 in a report on Thursday, August 28th. CIBC upgraded shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 19th. Canaccord Genuity Group lifted their price objective on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a report on Thursday, August 7th. National Bankshares reiterated an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. Finally, Morgan Stanley lowered their target price on shares of Thomson Reuters from $197.00 to $187.00 and set an "equal weight" rating for the company in a research note on Thursday. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $202.82.

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.