News Co. (NASDAQ:NWSA) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp lifted its holdings in shares of News Co. (NASDAQ:NWSA) by 2.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 306,867 shares of the company’s stock after acquiring an additional 7,140 shares during the period. Cibc World Markets Corp’s holdings in News were worth $8,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NWSA. Ballentine Partners LLC boosted its stake in News by 3.8% in the 4th quarter. Ballentine Partners LLC now owns 11,576 shares of the company’s stock worth $319,000 after buying an additional 422 shares during the last quarter. Principal Securities Inc. boosted its position in shares of News by 18.5% in the fourth quarter. Principal Securities Inc. now owns 3,334 shares of the company’s stock worth $92,000 after acquiring an additional 521 shares during the last quarter. Metis Global Partners LLC grew its holdings in News by 4.4% in the fourth quarter. Metis Global Partners LLC now owns 12,518 shares of the company’s stock valued at $345,000 after purchasing an additional 533 shares during the period. Smartleaf Asset Management LLC increased its position in News by 49.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,989 shares of the company’s stock worth $55,000 after purchasing an additional 660 shares during the last quarter. Finally, Pathstone Holdings LLC raised its stake in News by 1.2% during the third quarter. Pathstone Holdings LLC now owns 60,509 shares of the company’s stock worth $1,612,000 after purchasing an additional 730 shares during the period. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Stock Down 1.3 %

NASDAQ NWSA opened at $26.80 on Wednesday. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. News Co. has a fifty-two week low of $22.65 and a fifty-two week high of $30.69. The business has a 50 day moving average price of $28.18 and a two-hundred day moving average price of $27.78. The stock has a market cap of $15.21 billion, a PE ratio of 36.71 and a beta of 1.34.

News (NASDAQ:NWSA) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. News had a net margin of 4.22% and a return on equity of 5.31%. As a group, sell-side analysts predict that News Co. will post 0.94 EPS for the current fiscal year.

News Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 12th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, March 12th. News’s dividend payout ratio (DPR) is 27.40%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NWSA. Guggenheim boosted their price objective on shares of News from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Seaport Res Ptn upgraded News to a “strong-buy” rating in a research note on Friday, January 31st. Citigroup initiated coverage on News in a research note on Friday, January 10th. They issued a “buy” rating and a $36.00 price objective on the stock. UBS Group raised shares of News from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 4th. Finally, Loop Capital reduced their price target on shares of News from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $39.25.

About News

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.