Bank of New York Mellon Corp Decreases Holdings in Shaw Communications Inc (SJR)

Bank of New York Mellon Corp cut its stake in Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 604,191 shares of the company’s stock after selling 6,074 shares during the quarter. Bank of New York Mellon Corp owned about 0.13% of Shaw Communications worth $12,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new position in Shaw Communications in the 2nd quarter worth $137,000. US Bancorp DE raised its holdings in Shaw Communications by 65.7% in the 2nd quarter. US Bancorp DE now owns 10,394 shares of the company’s stock worth $212,000 after purchasing an additional 4,121 shares in the last quarter. Cumberland Partners Ltd bought a new position in Shaw Communications in the 2nd quarter worth $288,000. Jane Street Group LLC bought a new position in Shaw Communications in the 2nd quarter worth $366,000. Finally, Dean Capital Investments Management LLC bought a new position in Shaw Communications in the 2nd quarter worth $384,000. Institutional investors and hedge funds own 53.89% of the company’s stock.

Several brokerages have commented on SJR. ValuEngine lowered shares of Shaw Communications from a “hold” rating to a “sell” rating in a report on Saturday, September 1st. Zacks Investment Research restated a “hold” rating on shares of Shaw Communications in a report on Thursday, November 15th. Finally, Canaccord Genuity downgraded shares of Shaw Communications from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.00.

NYSE:SJR opened at $18.98 on Friday. The stock has a market capitalization of $9.06 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 3.59 and a beta of 0.96. The company has a current ratio of 0.64, a quick ratio of 0.57 and a debt-to-equity ratio of 0.72. Shaw Communications Inc has a 1-year low of $18.18 and a 1-year high of $23.44.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last released its earnings results on Thursday, October 25th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Shaw Communications had a net margin of 1.04% and a return on equity of 12.90%. On average, analysts forecast that Shaw Communications Inc will post 1.04 EPS for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 30th. Stockholders of record on Tuesday, January 15th will be given a $0.0754 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Monday, January 14th. Shaw Communications’s dividend payout ratio is presently 76.27%.

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Shaw Communications Profile

Shaw Communications Inc operates as a diversified communications company in North America. The company operates through Consumer, Business Network Services, and Wireless segments. The Consumer segment provides cable telecommunications services, including video, Internet, Wi-Fi, phone, and satellite video services to residential customers.

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Institutional Ownership by Quarter for Shaw Communications (NYSE:SJR)

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