Townsquare Capital LLC Sells 1,745 Shares of Thomson Reuters Co. (NYSE:TRI)

Key Points

• Townsquare Capital LLC reduced its stake in Thomson Reuters Co. by 12.8%, owning 11,914 shares valued at approximately $2.06 million after selling 1,745 shares in Q1.
• Thomson Reuters reported a Q2 earnings per share (EPS) of $0.87, exceeding analyst expectations of $0.83, with a revenue of $1.81 billion, up 2.6% year-over-year.
• The company declared a quarterly dividend of $0.595 per share, which results in an annualized yield of 1.4%, with a dividend payout ratio of 65.75%.

Townsquare Capital LLC lowered its position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 12.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,914 shares of the business services provider's stock after selling 1,745 shares during the quarter. Townsquare Capital LLC's holdings in Thomson Reuters were worth $2,058,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. CenterBook Partners LP acquired a new position in Thomson Reuters in the 1st quarter valued at approximately $921,000. Headlands Technologies LLC increased its stake in Thomson Reuters by 24,790.9% in the 1st quarter. Headlands Technologies LLC now owns 2,738 shares of the business services provider's stock valued at $473,000 after buying an additional 2,727 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in Thomson Reuters in the 1st quarter valued at approximately $1,575,000. Vanguard Group Inc. increased its stake in Thomson Reuters by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 5,476,600 shares of the business services provider's stock valued at $945,069,000 after buying an additional 94,758 shares during the period. Finally, Scotia Capital Inc. increased its stake in Thomson Reuters by 2.4% in the 1st quarter. Scotia Capital Inc. now owns 250,380 shares of the business services provider's stock valued at $43,261,000 after buying an additional 5,881 shares during the period. Institutional investors and hedge funds own 17.31% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. National Bankshares reaffirmed an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. Royal Bank Of Canada decreased 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. TD Securities decreased 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. JPMorgan Chase & Co. upped their price objective on shares of Thomson Reuters from $177.00 to $178.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Barclays upped their price objective on shares of Thomson Reuters from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $194.20.

Thomson Reuters Price Performance

Shares of TRI stock traded up $3.51 during mid-day trading on Friday, reaching $171.32. The company's stock had a trading volume of 1,222,615 shares, compared to its average volume of 881,692. Thomson Reuters Co. has a 1-year low of $151.60 and a 1-year high of $218.42. The company has a market cap of $77.20 billion, a P/E ratio of 35.03, a PEG ratio of 5.67 and a beta of 0.77. 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 firm's 50-day moving average is $196.73 and its two-hundred day moving average is $185.13.

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

Thomson Reuters Announces Dividend

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

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.