Cibc World Market Inc. Acquires 142,009 Shares of News Corporation $NWSA

Cibc World Market Inc. lifted its holdings in shares of News Corporation (NASDAQ:NWSA) by 174.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,200 shares of the company’s stock after purchasing an additional 142,009 shares during the quarter. Cibc World Market Inc.’s holdings in News were worth $6,854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cullen Frost Bankers Inc. acquired a new stake in News during the 2nd quarter worth approximately $30,000. CYBER HORNET ETFs LLC bought a new stake in shares of News during the second quarter worth $30,000. Root Financial Partners LLC acquired a new stake in shares of News during the third quarter worth $35,000. Smartleaf Asset Management LLC lifted its position in News by 87.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,396 shares of the company’s stock valued at $74,000 after acquiring an additional 1,121 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in News by 160.1% in the 2nd quarter. Allworth Financial LP now owns 3,361 shares of the company’s stock worth $100,000 after purchasing an additional 2,069 shares during the period. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Guggenheim cut their price target on News from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Zacks Research lowered News from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 4th. JPMorgan Chase & Co. reduced their price target on News from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. Citigroup decreased their price target on shares of News from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Finally, Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a research report on Saturday. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, News currently has an average rating of “Moderate Buy” and a consensus target price of $37.02.

News Stock Up 1.4%

NASDAQ:NWSA opened at $22.72 on Friday. News Corporation has a twelve month low of $22.20 and a twelve month high of $31.61. The firm has a market capitalization of $12.76 billion, a price-to-earnings ratio of 11.19 and a beta of 0.99. The company has a quick ratio of 1.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average price is $25.83 and its two-hundred day moving average price is $27.19.

News (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.33 by $0.07. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.30 billion. News had a return on equity of 5.94% and a net margin of 13.35%.The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. Equities research analysts expect that News Corporation will post 0.94 earnings per share for the current fiscal year.

News Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, March 11th. This represents a dividend yield of 83.0%. News’s payout ratio is currently 9.85%.

About News

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.