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

Key Points

• CIBC World Markets acquired 1.23 million Thomson Reuters shares worth approximately $100.7 million in the second quarter, representing about 0.28% of the company. Other institutions also initiated positions, while institutional investors collectively own 17.31% of the stock.
• Thomson Reuters reported quarterly earnings of $0.99 per share, exceeding estimates of $0.96, while revenue rose 9.5% year over year to $1.93 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $142.83.
• The company declared a quarterly dividend of $0.655 per share, equivalent to an annualized $2.62 payout and a 2.5% yield, with payment scheduled for September 10.

Cibc World Market Inc. purchased a new position in Thomson Reuters Corp (NASDAQ:TRI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,234,115 shares of the company's stock, valued at approximately $100,711,000. Cibc World Market Inc. owned approximately 0.28% of Thomson Reuters as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new position in Thomson Reuters during the 2nd quarter worth approximately $663,000. Bank of Nova Scotia bought a new stake in shares of Thomson Reuters in the 2nd quarter valued at approximately $51,193,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Thomson Reuters in the 2nd quarter valued at approximately $243,000. CFO4Life Group LLC acquired a new stake in shares of Thomson Reuters during the 2nd quarter valued at approximately $239,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Thomson Reuters during the 2nd quarter valued at approximately $785,000. 17.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TRI has been the topic of several research analyst reports. Barclays restated an "overweight" rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. Scotia dropped their target price on shares of Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 6th. 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 report on Tuesday, June 30th. Canaccord Genuity Group decreased their price target on shares of Thomson Reuters from $134.00 to $132.50 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, TD Securities reaffirmed a "buy" rating on shares of Thomson Reuters in a research report on Thursday, August 6th. One research 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $142.83.

Thomson Reuters Stock Performance

NASDAQ:TRI opened at $105.53 on Monday. The firm has a market capitalization of $45.97 billion, a P/E ratio of 28.09, a P/E/G ratio of 1.55 and a beta of 0.75. The business has a 50 day simple moving average of $93.08 and a 200 day simple moving average of $91.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51. Thomson Reuters Corp has a 12-month low of $76.28 and a 12-month high of $180.00.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.03. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. Equities research analysts predict that Thomson Reuters Corp will post 4.45 EPS for the current year.

Thomson Reuters Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.655 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.62 annualized dividend and a dividend yield of 2.5%. Thomson Reuters's dividend payout ratio is currently 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.

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