Thomson Reuters Co. (NYSE:TRI) Shares Sold by Bristol Gate Capital Partners Inc.

Bristol Gate Capital Partners Inc. lowered its stake in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 8.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,633 shares of the business services provider’s stock after selling 548 shares during the period. Thomson Reuters comprises 0.0% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 26th biggest position. Bristol Gate Capital Partners Inc.’s holdings in Thomson Reuters were worth $949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in TRI. Principal Securities Inc. purchased a new position in Thomson Reuters in the fourth quarter worth approximately $48,000. Dimensional Fund Advisors LP lifted its position in shares of Thomson Reuters by 52.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 158,203 shares of the business services provider’s stock worth $23,132,000 after purchasing an additional 54,140 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of Thomson Reuters during the fourth quarter worth $244,000. Janney Montgomery Scott LLC increased its holdings in Thomson Reuters by 7.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,029 shares of the business services provider’s stock valued at $882,000 after buying an additional 418 shares during the last quarter. Finally, TrinityPoint Wealth LLC acquired a new stake in Thomson Reuters in the fourth quarter valued at $202,000. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Stock Performance

Shares of TRI opened at $170.32 on Friday. The company’s 50 day simple moving average is $165.37 and its 200-day simple moving average is $163.47. The firm has a market cap of $76.59 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 5.82 and a beta of 0.73. Thomson Reuters Co. has a 12-month low of $117.46 and a 12-month high of $176.03. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16.

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

Thomson Reuters Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 (DPR) is currently 41.14%.

Wall Street Analyst Weigh In

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

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.