Sitrin Capital Management LLC Reduces Stake in Time Warner Inc. (TWX)

Sitrin Capital Management LLC reduced its position in shares of Time Warner Inc. (NYSE:TWX) by 15.0% during the first quarter, Holdings Channel reports. The fund owned 2,430 shares of the media conglomerate’s stock after selling 430 shares during the period. Sitrin Capital Management LLC’s holdings in Time Warner were worth $237,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. ARS Investment Partners LLC boosted its position in shares of Time Warner by 33.6% in the fourth quarter. ARS Investment Partners LLC now owns 168,374 shares of the media conglomerate’s stock worth $16,253,000 after buying an additional 42,343 shares during the period. Empyrean Capital Partners LP acquired a new position in shares of Time Warner during the fourth quarter worth $123,616,000. Kentucky Retirement Systems acquired a new position in shares of Time Warner during the fourth quarter worth $5,402,000. FIL Ltd boosted its position in shares of Time Warner by 2.9% in the fourth quarter. FIL Ltd now owns 1,378,619 shares of the media conglomerate’s stock worth $133,077,000 after buying an additional 39,499 shares during the period. Finally, Stevens First Principles Investment Advisors boosted its position in shares of Time Warner by 52.9% in the first quarter. Stevens First Principles Investment Advisors now owns 2,127 shares of the media conglomerate’s stock worth $208,000 after buying an additional 736 shares during the period. Hedge funds and other institutional investors own 80.99% of the company’s stock.

Institutional Ownership by Quarter for Time Warner (NYSE:TWX)

Shares of Time Warner Inc. (NYSE TWX) opened at 99.90 on Tuesday. Time Warner Inc. has a 1-year low of $68.97 and a 1-year high of $100.60. The company has a market cap of $77.36 billion, a price-to-earnings ratio of 20.16 and a beta of 1.09. The firm’s 50-day moving average is $98.80 and its 200 day moving average is $97.41.

Time Warner (NYSE:TWX) last issued its earnings results on Wednesday, May 3rd. The media conglomerate reported $1.66 EPS for the quarter, topping the consensus estimate of $1.44 by $0.22. The firm had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.66 billion. Time Warner had a return on equity of 19.45% and a net margin of 13.90%. Time Warner’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $1.49 earnings per share. Equities analysts expect that Time Warner Inc. will post $6.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were given a $0.4025 dividend. The ex-dividend date of this dividend was Friday, May 26th. This represents a $1.61 annualized dividend and a yield of 1.61%. Time Warner’s dividend payout ratio (DPR) is currently 30.78%.

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TWX has been the topic of a number of recent research reports. Credit Suisse Group reaffirmed a “buy” rating and set a $108.00 price target on shares of Time Warner in a research report on Wednesday, March 1st. Loop Capital cut shares of Time Warner from a “buy” rating to a “hold” rating and set a $107.50 price target on the stock. in a research report on Thursday, March 2nd. Rosenblatt Securities initiated coverage on shares of Time Warner in a research report on Tuesday, April 4th. They set a “neutral” rating and a $105.00 price target on the stock. FBR & Co reaffirmed a “buy” rating and set a $107.50 price target on shares of Time Warner in a research report on Friday, April 7th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $108.00 price target on shares of Time Warner in a research report on Monday, April 17th. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $100.50.

In other news, CFO Howard M. Averill bought 255 shares of Time Warner stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average cost of $99.67 per share, with a total value of $25,415.85. Following the completion of the transaction, the chief financial officer now directly owns 63,399 shares in the company, valued at $6,318,978.33. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

Time Warner Company Profile

Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.

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