Churchill Management closed out its position in Meredith Co. (NYSE:MDP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The hedge fund previously had a 133,681 share position in the company, valued at approximately $5,464,879. Churchill Management had fully closed out its position in company by the time it had filed its quarterly Form 13F disclosure.

Separately, Hays Advisory purchased a new stake in Meredith during the fourth quarter valued at $8,691,000.

Meredith Co. (NYSE:MDP) traded up 0.86% during trading on Thursday, reaching $41.23. The company’s stock had a trading volume of 298,542 shares. Meredith Co. has a 52 week low of $35.03 and a 52 week high of $57.22. The firm has a 50 day moving average of $41.22 and a 200 day moving average of $45.19. The stock has a market capitalization of $1.84 billion and a price-to-earnings ratio of 15.80.

Meredith (NYSE:MDP) last announced its earnings results on Wednesday, January 27th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. During the same quarter in the prior year, the business earned $1.00 earnings per share. The business had revenue of $406.40 million for the quarter, compared to analyst estimates of $407.29 million. The firm’s revenue was up 1.6% on a year-over-year basis. Analysts expect that Meredith Co. will post $3.10 EPS for the current year.

Several research firms have recently weighed in on MDP. Stephens began coverage on Meredith in a report on Wednesday, November 18th. They issued an “equal weight” rating and a $50.00 target price for the company. TheStreet downgraded Meredith from a “buy” rating to a “hold” rating in a research note on Thursday, October 29th. Zacks Investment Research raised Meredith from a “sell” rating to a “hold” rating and set a $53.00 price objective for the company in a research note on Monday, November 2nd. Citigroup Inc. reaffirmed a “neutral” rating and set a $57.00 price objective (up from $52.00) on shares of Meredith in a research note on Thursday, December 3rd. Finally, Gabelli raised Meredith from a “sell” rating to a “hold” rating and set a $50.00 price objective for the company in a research note on Wednesday, December 16th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $53.00.

Meredith Corporation is a media and marketing company. The Company operates two business segments namely local media and national media. Its national media segment includes national consumer media brands delivered via multiple media platforms including print magazines and digital and mobile media, brand licensing activities, database-related activities and business-to-business marketing products and services. The local media segment consists of the operations of network-affiliated television stations, related digital and mobile media, and video creation operations. Local media segment consists of 14 owned television stations and one operated television station located across the United States in digital and mobile media, and a national video creation unit.

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