Thomson Reuters Co. (NYSE:TRI) Shares Bought by IMS Capital Management

IMS Capital Management lifted its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 36.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,243 shares of the business services provider’s stock after buying an additional 870 shares during the period. IMS Capital Management’s holdings in Thomson Reuters were worth $531,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FIL Ltd grew its position in Thomson Reuters by 9.8% in the 4th quarter. FIL Ltd now owns 4,994,299 shares of the business services provider’s stock valued at $730,195,000 after buying an additional 445,444 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Thomson Reuters by 53.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 969,443 shares of the business services provider’s stock worth $141,752,000 after acquiring an additional 338,896 shares in the last quarter. TD Asset Management Inc lifted its holdings in Thomson Reuters by 7.9% in the first quarter. TD Asset Management Inc now owns 4,047,773 shares of the business services provider’s stock valued at $630,534,000 after acquiring an additional 295,301 shares during the period. Cibc World Market Inc. boosted its holdings in Thomson Reuters by 26.3% during the second quarter. Cibc World Market Inc. now owns 1,325,695 shares of the business services provider’s stock worth $223,525,000 after buying an additional 276,206 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in Thomson Reuters during the second quarter worth about $45,514,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $170.58 on Tuesday. The business has a 50 day moving average of $166.34 and a two-hundred day moving average of $164.23. The company has a market cap of $76.71 billion, a P/E ratio of 32.49, a PEG ratio of 5.71 and a beta of 0.73. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.16. Thomson Reuters Co. has a 52 week low of $117.46 and a 52 week high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. As a group, analysts anticipate that Thomson Reuters Co. will post 3.71 EPS for the current year.

Thomson Reuters Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a $0.146 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.58 annualized dividend and a dividend yield of 0.34%. Thomson Reuters’s dividend payout ratio is currently 41.14%.

Analysts Set New Price Targets

TRI has been the subject of several research reports. Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $164.00 to $182.00 in a research note on Tuesday, August 27th. JPMorgan Chase & Co. boosted their price target on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Finally, Royal Bank of Canada dropped their price target on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $173.45.

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.