Geode Capital Management LLC Buys 560,450 Shares of Thomson Reuters Co. (NYSE:TRI)

Geode Capital Management LLC increased its holdings in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 74.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,315,080 shares of the business services provider's stock after purchasing an additional 560,450 shares during the period. Geode Capital Management LLC owned approximately 0.29% of Thomson Reuters worth $214,236,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Thomson Reuters by 33.4% during the third quarter. Wellington Management Group LLP now owns 16,145 shares of the business services provider's stock worth $2,757,000 after buying an additional 4,039 shares during the last quarter. XTX Topco Ltd bought a new position in Thomson Reuters during the third quarter worth $1,157,000. Y Intercept Hong Kong Ltd raised its stake in Thomson Reuters by 85.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 4,428 shares of the business services provider's stock valued at $755,000 after purchasing an additional 2,040 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Thomson Reuters in the 3rd quarter valued at $2,538,000. Finally, Toronto Dominion Bank grew its position in Thomson Reuters by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 514,250 shares of the business services provider's stock worth $87,731,000 after purchasing an additional 9,200 shares during the last quarter. Institutional investors own 17.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Scotiabank upped their price objective on shares of Thomson Reuters from $187.00 to $188.00 and gave the company a "sector outperform" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upped their price target on Thomson Reuters from $175.00 to $177.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Bank of America assumed coverage on Thomson Reuters in a report on Thursday. They set a "neutral" rating and a $180.00 price objective on the stock. The Goldman Sachs Group upped their target price on Thomson Reuters from $168.00 to $188.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company raised their target price on Thomson Reuters from $165.00 to $177.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $177.80.

Thomson Reuters Price Performance

Shares of Thomson Reuters stock traded up $5.41 during mid-day trading on Friday, reaching $172.68. 791,224 shares of the stock were exchanged, compared to its average volume of 391,214. The company has a market cap of $77.72 billion, a price-to-earnings ratio of 35.31, a price-to-earnings-growth ratio of 5.67 and a beta of 0.70. Thomson Reuters Co. has a fifty-two week low of $149.50 and a fifty-two week high of $180.42. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The firm has a 50-day simple moving average of $173.17 and a 200 day simple moving average of $167.78.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last posted its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. On average, sell-side analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were paid a $0.595 dividend. The ex-dividend date was Thursday, February 20th. This represents a $2.38 dividend on an annualized basis and a yield of 1.38%. This is a positive change from Thomson Reuters's previous quarterly dividend of $0.54. Thomson Reuters's payout ratio is currently 48.67%.

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.