Bank of New York Mellon Corp Sells 16,213 Shares of Time Inc. (TIME)

Bank of New York Mellon Corp cut its position in shares of Time Inc. (NYSE:TIME) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,967,698 shares of the company’s stock after selling 16,213 shares during the quarter. Bank of New York Mellon Corp owned 1.98% of Time worth $28,237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Capstone Asset Management Co. lifted its stake in Time by 1.7% during the first quarter. Capstone Asset Management Co. now owns 19,030 shares of the company’s stock worth $368,000 after purchasing an additional 320 shares during the last quarter. Advantus Capital Management Inc lifted its stake in Time by 3.2% during the first quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock worth $246,000 after purchasing an additional 389 shares during the last quarter. State Treasurer State of Michigan lifted its stake in Time by 1.0% during the first quarter. State Treasurer State of Michigan now owns 40,337 shares of the company’s stock worth $781,000 after purchasing an additional 400 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Time by 2.0% during the first quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company’s stock worth $484,000 after purchasing an additional 500 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Time by 1.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 35,071 shares of the company’s stock worth $679,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.

A number of equities research analysts have issued reports on TIME shares. ValuEngine cut Time from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded Time from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. Macquarie cut Time from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Thursday, June 15th. Finally, Zacks Investment Research lowered Time from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Time currently has a consensus rating of “Hold” and a consensus target price of $15.40.

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Time Inc. (NYSE TIME) opened at 13.20 on Tuesday. The firm’s market cap is $1.31 billion. The company has a 50 day moving average price of $13.15 and a 200-day moving average price of $15.01. Time Inc. has a 52-week low of $11.65 and a 52-week high of $20.40.

Time (NYSE:TIME) last announced its earnings results on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. The company had revenue of $694.00 million for the quarter, compared to analyst estimates of $698.66 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts anticipate that Time Inc. will post $1.10 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Tuesday, August 29th. Time’s dividend payout ratio (DPR) is presently -12.31%.

Time 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.

Institutional Ownership by Quarter for Time (NYSE:TIME)

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