Fayez Sarofim & Co. maintained its stake in Time Inc. (NYSE:TIME) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,544 shares of the company’s stock at the close of the second quarter. Fayez Sarofim & Co.’s holdings in Time were worth $367,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of TIME. Canada Pension Plan Investment Board acquired a new stake in shares of Time during the 1st quarter valued at about $104,000. Riverhead Capital Management LLC lifted its holdings in shares of Time by 84.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 10,343 shares of the company’s stock valued at $148,000 after buying an additional 4,743 shares during the last quarter. Balter Liquid Alternatives LLC acquired a new stake in shares of Time during the 2nd quarter valued at about $156,000. Brave Asset Management Inc. acquired a new stake in shares of Time during the 2nd quarter valued at about $160,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in shares of Time during the 2nd quarter valued at about $171,000. 90.06% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on TIME shares. ValuEngine lowered Time from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub upgraded Time from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Zacks Investment Research lowered Time from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. Finally, Macquarie lowered Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a report on Thursday, June 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $15.40.
Time Inc. (NYSE:TIME) traded down 1.326% during midday trading on Tuesday, reaching $13.025. The company had a trading volume of 40,973 shares. The company’s 50-day moving average is $13.15 and its 200 day moving average is $15.01. Time Inc. has a 52-week low of $11.65 and a 52-week high of $20.40. The company’s market cap is $1.30 billion.
Time (NYSE:TIME) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). The company had revenue of $694.00 million during the quarter, compared to the consensus estimate of $698.66 million. Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, equities research analysts forecast that Time Inc. will post $1.10 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.04 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $0.16 dividend on an annualized basis and a yield of 1.21%. Time’s dividend payout ratio is -12.31%.
Time Company Profile
Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.
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