News Co. (NASDAQ:NWS) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of News Co. (NASDAQ:NWS) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,482 shares of the company’s stock after acquiring an additional 702 shares during the period. CIBC Asset Management Inc’s holdings in News were worth $593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NWS. Blue Trust Inc. grew its stake in News by 253.3% during the 3rd quarter. Blue Trust Inc. now owns 2,021 shares of the company’s stock worth $57,000 after buying an additional 1,449 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in News by 101.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,624 shares of the company’s stock worth $548,000 after buying an additional 9,895 shares during the last quarter. International Assets Investment Management LLC grew its stake in News by 3,314.8% during the 3rd quarter. International Assets Investment Management LLC now owns 116,718 shares of the company’s stock worth $3,262,000 after buying an additional 113,300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in News by 41.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,247 shares of the company’s stock worth $230,000 after buying an additional 2,405 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in News during the 3rd quarter worth $351,000. 14.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn upgraded News to a “strong-buy” rating in a research note on Friday, January 31st.

News Trading Down 1.9 %

NASDAQ:NWS opened at $32.30 on Friday. News Co. has a 1 year low of $23.99 and a 1 year high of $35.25. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 44.25 and a beta of 1.38. The business has a fifty day moving average of $31.71 and a 200-day moving average of $30.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 1.73.

News (NASDAQ:NWS) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). News had a return on equity of 5.31% and a net margin of 4.22%. Equities analysts predict that News Co. will post 1.03 earnings per share for the current year.

News Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a dividend yield of 0.6%. News’s payout ratio is 27.40%.

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.