Capital Investment Counsel LLC Cuts Position in Thomson Reuters Co. $TRI

Key Points

• Capital Investment Counsel LLC reduced its stake in Thomson Reuters Co. by 4.7%, now holding 58,277 shares valued at approximately $10 million, making it their 14th largest investment.
• Recent analyst reports include a target price reduction by Wells Fargo from $213.00 to $187.00, while TD Securities increased theirs from $275.00 to $285.00, reflecting mixed sentiments among analysts.
• Thomson Reuters announced a quarterly dividend of $0.595 per share, representing an annual yield of 1.3%, with a payout ratio of 65.75%.

Capital Investment Counsel LLC lessened its holdings in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 4.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 58,277 shares of the business services provider's stock after selling 2,857 shares during the period. Thomson Reuters comprises 1.7% of Capital Investment Counsel LLC's holdings, making the stock its 14th biggest position. Capital Investment Counsel LLC's holdings in Thomson Reuters were worth $10,068,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Mackenzie Financial Corp increased its stake in Thomson Reuters by 139.5% during the 4th quarter. Mackenzie Financial Corp now owns 8,544,503 shares of the business services provider's stock valued at $1,370,564,000 after purchasing an additional 4,977,006 shares in the last quarter. TD Asset Management Inc lifted its stake 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 worth $951,477,000 after buying an additional 750,063 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Thomson Reuters by 1.8% in the first quarter. Vanguard Group Inc. now owns 5,476,600 shares of the business services provider's stock worth $945,069,000 after buying an additional 94,758 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Thomson Reuters by 1.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,537,660 shares of the business services provider's stock worth $437,985,000 after buying an additional 44,898 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Thomson Reuters by 1.0% during the first quarter. 1832 Asset Management L.P. now owns 1,665,117 shares of the business services provider's stock worth $287,699,000 after purchasing an additional 17,223 shares during the period. Institutional investors own 17.31% of the company's stock.

Thomson Reuters Trading Down 2.3%

Shares of Thomson Reuters stock traded down $4.13 during mid-day trading on Friday, hitting $174.64. 1,008,355 shares of the stock were exchanged, compared to its average volume of 894,516. Thomson Reuters Co. has a twelve month low of $151.60 and a twelve month high of $218.42. The stock has a market capitalization of $78.70 billion, a price-to-earnings ratio of 35.71, a price-to-earnings-growth ratio of 5.67 and a beta of 0.74. The company has a 50-day simple moving average of $190.99 and a 200 day simple moving average of $185.50. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15.

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

Thomson Reuters Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Scotiabank raised shares of Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $188.00 to $200.00 in a research note on Wednesday, August 6th. Royal Bank Of Canada dropped their price objective on shares of Thomson Reuters from $215.00 to $208.00 and set a "sector perform" rating for the company in a report on Thursday, August 7th. CIBC upgraded shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a report on Tuesday, August 19th. National Bankshares reiterated an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. Finally, Canaccord Genuity Group upped their target price 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. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $201.90.

Thomson Reuters 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.