Cibc World Market Inc. Has $6.85 Million Stake in News Corporation $NWSA

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

Several other hedge funds have also added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of News by 488.0% in the second quarter. AQR Capital Management LLC now owns 8,124,507 shares of the company’s stock valued at $241,054,000 after purchasing an additional 6,742,836 shares during the last quarter. Norges Bank bought a new stake in shares of News during the 2nd quarter worth about $195,910,000. Independent Franchise Partners LLP grew its stake in News by 7.3% in the 2nd quarter. Independent Franchise Partners LLP now owns 29,170,531 shares of the company’s stock valued at $866,948,000 after buying an additional 1,980,941 shares during the last quarter. 59 North Capital Management LP raised its holdings in News by 13.5% in the 2nd quarter. 59 North Capital Management LP now owns 12,650,867 shares of the company’s stock valued at $375,984,000 after acquiring an additional 1,503,213 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in News by 1,036.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,404,218 shares of the company’s stock worth $41,723,000 after acquiring an additional 1,280,616 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NWSA. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Citigroup decreased their price objective on News from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, February 9th. JPMorgan Chase & Co. dropped their target price on News from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday, November 25th. Guggenheim decreased their price target on shares of News from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Finally, Zacks Research lowered shares of News from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 4th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, News presently has a consensus rating of “Moderate Buy” and an average target price of $37.02.

News Stock Performance

NWSA opened at $22.72 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.69 and a current ratio of 1.81. News Corporation has a 52-week low of $22.20 and a 52-week high of $31.61. The firm has a market cap of $12.76 billion, a P/E ratio of 11.19 and a beta of 0.99. The business’s fifty day moving average is $25.83 and its 200-day moving average is $27.19.

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

News Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 11th will be given 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 dividend payout ratio (DPR) is currently 9.85%.

News Company 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.