12,480 Shares in News Corporation $NWSA Acquired by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC acquired 12,480 shares of News Corporation (NASDAQ:NWSA) during the second quarter, with a total investment valued at approximately $371,000.
• News Corporation reported quarterly earnings of $0.19 per share, meeting analysts' expectations, while revenue increased to $2.11 billion, surpassing projections.
• The company declared a $0.10 dividend to be paid on October 8th, representing a dividend yield of 70.0%.

Kingstone Capital Partners Texas LLC purchased a new position in shares of News Corporation (NASDAQ:NWSA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,480 shares of the company's stock, valued at approximately $371,000.

A number of other institutional investors also recently modified their holdings of NWSA. Asset Value Investors Ltd bought a new stake in News during the 4th quarter valued at $122,391,000. Nuveen LLC bought a new stake in shares of News during the 1st quarter valued at $85,213,000. 59 North Capital Management LP boosted its position in shares of News by 24.4% during the first quarter. 59 North Capital Management LP now owns 11,147,654 shares of the company's stock worth $303,439,000 after acquiring an additional 2,185,542 shares during the last quarter. Dodge & Cox increased its holdings in News by 18.7% in the 1st quarter. Dodge & Cox now owns 13,846,298 shares of the company's stock valued at $376,896,000 after acquiring an additional 2,183,613 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of News by 34.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,450,150 shares of the company's stock valued at $121,133,000 after buying an additional 1,133,004 shares during the period. Institutional investors and hedge funds own 66.97% of the company's stock.

News Stock Performance

NWSA traded up $0.19 on Monday, hitting $30.81. 3,333,563 shares of the stock traded hands, compared to its average volume of 4,045,867. The firm has a market capitalization of $17.41 billion, a PE ratio of 14.81 and a beta of 1.18. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average price of $29.54 and a two-hundred day moving average price of $28.26. News Corporation has a 52 week low of $23.38 and a 52 week high of $30.88.

News (NASDAQ:NWSA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.19. News had a return on equity of 5.66% and a net margin of 13.21%.The firm had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter last year, the business earned $0.17 earnings per share. The company's revenue was up .8% compared to the same quarter last year. On average, research analysts predict that News Corporation will post 0.94 EPS for the current fiscal year.

News Announces Dividend

The business also recently declared a half year 25 dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 10th. This represents a yield of 70.0%. News's dividend payout ratio is 9.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wall Street Zen lowered News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Macquarie reiterated a "neutral" rating and issued a $32.70 price objective on shares of News in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. upped their target price on News from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $38.62.

News Company Profile

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.