CIBC Asset Management Inc Purchases 2,558 Shares of News Co. (NASDAQ:NWSA)

CIBC Asset Management Inc raised its position in News Co. (NASDAQ:NWSA) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,744 shares of the company’s stock after buying an additional 2,558 shares during the quarter. CIBC Asset Management Inc’s holdings in News were worth $1,590,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in News in the 3rd quarter valued at about $39,000. R Squared Ltd purchased a new position in shares of News in the fourth quarter worth about $49,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of News during the 3rd quarter valued at approximately $85,000. Principal Securities Inc. boosted its holdings in News by 18.5% in the 4th quarter. Principal Securities Inc. now owns 3,334 shares of the company’s stock worth $92,000 after buying an additional 521 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in News in the 4th quarter valued at approximately $137,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Stock Performance

Shares of NWSA opened at $28.53 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.65 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average price of $28.23 and a 200-day moving average price of $27.76. The company has a market cap of $16.19 billion, a PE ratio of 39.08 and a beta of 1.35. News Co. has a 12-month low of $22.65 and a 12-month high of $30.69.

News (NASDAQ:NWSA) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 EPS for the quarter, topping 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, equities analysts forecast that News Co. will post 0.94 earnings per share for the current fiscal year.

News Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.40%. News’s payout ratio is 27.40%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NWSA. StockNews.com raised News from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Seaport Res Ptn upgraded News to a “strong-buy” rating in a research note on Friday, January 31st. UBS Group upgraded News from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 4th. Guggenheim raised their price objective on shares of News from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Citigroup initiated coverage on shares of News in a report on Friday, January 10th. They set a “buy” rating and a $36.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target 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.