Cibc World Market Inc. Invests $100.71 Million in Thomson Reuters Corp $TRI

Cibc World Market Inc. acquired a new position in Thomson Reuters Corp (NASDAQ:TRI) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 1,234,115 shares of the company’s stock, valued at approximately $100,711,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC acquired a new position in Thomson Reuters during the 4th quarter worth $448,000. AQR Capital Management LLC grew its stake in shares of Thomson Reuters by 30.3% in the first quarter. AQR Capital Management LLC now owns 17,152 shares of the company’s stock worth $2,964,000 after purchasing an additional 3,988 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Thomson Reuters during the first quarter valued at $205,000. Prudential Financial Inc. acquired a new position in shares of Thomson Reuters during the second quarter valued at $234,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Thomson Reuters during the second quarter valued at about $646,000. Institutional investors own 17.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Bank of America lowered their target price on shares of Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 19th. Barclays restated an “overweight” rating and set a $130.00 price target (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. Wells Fargo & Company set a $85.00 price target on shares of Thomson Reuters and gave the stock an “equal weight” rating in a research note on Tuesday, June 30th. Finally, TD Securities reiterated a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.83.

Thomson Reuters Price Performance

TRI opened at $105.53 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $45.97 billion, a PE ratio of 28.09, a P/E/G ratio of 1.55 and a beta of 0.75. The stock’s fifty day moving average is $93.08 and its 200-day moving average is $91.99. Thomson Reuters Corp has a one year low of $76.28 and a one year high of $180.00.

Thomson Reuters (NASDAQ:TRI) last announced its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. On average, equities analysts predict that Thomson Reuters Corp will post 4.45 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $0.655 dividend. This represents a $2.62 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Thomson Reuters’s dividend payout ratio is presently 69.68%.

Thomson Reuters Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.