CIBC Bancorp USA Inc. Makes New $8.80 Million Investment in News Corporation $NWSA

CIBC Bancorp USA Inc. purchased a new position in shares of News Corporation (NASDAQ:NWSA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 286,503 shares of the company’s stock, valued at approximately $8,799,000. CIBC Bancorp USA Inc. owned about 0.05% of News as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Permanent Capital Management LP purchased a new stake in shares of News during the 3rd quarter worth about $812,000. Barclays PLC grew its stake in News by 39.5% during the third quarter. Barclays PLC now owns 14,875,615 shares of the company’s stock worth $456,830,000 after buying an additional 4,214,562 shares during the period. JPMorgan Chase & Co. raised its stake in shares of News by 22.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,770,946 shares of the company’s stock valued at $54,389,000 after acquiring an additional 330,513 shares during the period. XTX Topco Ltd increased its holdings in News by 197.2% in the 2nd quarter. XTX Topco Ltd now owns 83,176 shares of the company’s stock valued at $2,472,000 after purchasing an additional 55,185 shares in the last quarter. Finally, GenTrust LLC purchased a new stake in shares of News in the third quarter worth about $1,549,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NWSA has been the topic of a number of recent research reports. Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Morgan Stanley set a $32.40 price target on shares of News in a research report on Friday, February 6th. Weiss Ratings downgraded News from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Citigroup decreased their price objective on shares of News from $40.00 to $39.00 and set a “buy” rating for the company in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of News from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.02.

News Trading Up 0.5%

Shares of NASDAQ:NWSA opened at $24.05 on Friday. News Corporation has a 12-month low of $22.20 and a 12-month high of $31.61. 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 firm has a market capitalization of $13.36 billion, a P/E ratio of 11.85 and a beta of 0.98. The firm has a fifty day moving average of $24.65 and a two-hundred day moving average of $26.22.

News (NASDAQ:NWSA) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.07. News had a return on equity of 5.94% and a net margin of 13.35%.The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the company earned $0.33 earnings per share. News’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts expect that News Corporation will post 0.94 EPS for the current fiscal year.

News Dividend Announcement

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

News Profile

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.