Addenda Capital Inc. Cuts Stock Position in Thomson Reuters Co. $TRI

Addenda Capital Inc. lessened its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 0.6% during the 2nd quarter, Holdings Channel reports. The firm owned 53,802 shares of the business services provider’s stock after selling 321 shares during the period. Addenda Capital Inc.’s holdings in Thomson Reuters were worth $10,821,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tritonpoint Wealth LLC lifted its holdings in Thomson Reuters by 2.9% during the 2nd quarter. Tritonpoint Wealth LLC now owns 3,461 shares of the business services provider’s stock worth $696,000 after buying an additional 98 shares in the last quarter. Signaturefd LLC raised its stake in shares of Thomson Reuters by 0.8% in the second quarter. Signaturefd LLC now owns 8,426 shares of the business services provider’s stock valued at $1,695,000 after acquiring an additional 70 shares in the last quarter. First American Bank boosted its holdings in Thomson Reuters by 5.4% in the second quarter. First American Bank now owns 25,426 shares of the business services provider’s stock valued at $5,114,000 after purchasing an additional 1,294 shares during the period. Kathmere Capital Management LLC acquired a new position in Thomson Reuters during the 2nd quarter worth $237,000. Finally, Novem Group purchased a new stake in Thomson Reuters during the 2nd quarter worth about $984,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Down 0.6%

TRI opened at $157.02 on Friday. Thomson Reuters Co. has a 12 month low of $151.60 and a 12 month high of $218.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. The business has a 50 day simple moving average of $179.27 and a 200-day simple moving average of $184.59. The stock has a market capitalization of $70.50 billion, a P/E ratio of 32.11, a P/E/G ratio of 5.67 and a beta of 0.74.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The business 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%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 EPS. On average, equities analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $0.595 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 1.5%. Thomson Reuters’s dividend payout ratio is currently 65.75%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $187.00 to $212.00 in a research note on Tuesday, September 9th. National Bankshares reiterated an “outperform” rating on shares of Thomson Reuters in a research note on Thursday, July 10th. CIBC raised Thomson Reuters from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 19th. TD Securities raised Thomson Reuters from a “hold” rating to a “buy” rating and boosted their target price for the company from $275.00 to $285.00 in a report on Thursday, August 28th. Finally, Morgan Stanley dropped their price target on Thomson Reuters from $197.00 to $187.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 11th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.