Allspring Global Investments Holdings LLC Lowers Stock Position in News Corporation $NWSA

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in News Corporation (NWSA) by 52.6%, now holding 107,527 shares worth approximately $3.2 million.
• The company reported $2.11 billion in revenue for its most recent quarter, slightly surpassing analyst expectations, and a net margin of 13.21%.
• News Corporation recently paid a half-year dividend of $0.10 per share, yielding 70.0%, and has a dividend payout ratio of 9.62%.

Allspring Global Investments Holdings LLC cut its position in shares of News Corporation (NASDAQ:NWSA - Free Report) by 52.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 107,527 shares of the company's stock after selling 119,433 shares during the period. Allspring Global Investments Holdings LLC's holdings in News were worth $3,197,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in News by 0.3% during the second quarter. Public Employees Retirement System of Ohio now owns 126,293 shares of the company's stock worth $3,753,000 after buying an additional 344 shares in the last quarter. Signaturefd LLC lifted its holdings in News by 3.5% during the first quarter. Signaturefd LLC now owns 11,833 shares of the company's stock valued at $322,000 after purchasing an additional 398 shares in the last quarter. Horizon Investments LLC lifted its holdings in News by 7.7% during the first quarter. Horizon Investments LLC now owns 5,575 shares of the company's stock valued at $152,000 after purchasing an additional 398 shares in the last quarter. GAMMA Investing LLC lifted its holdings in News by 5.4% during the second quarter. GAMMA Investing LLC now owns 9,545 shares of the company's stock valued at $284,000 after purchasing an additional 487 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in News by 10.4% during the first quarter. Mather Group LLC. now owns 6,465 shares of the company's stock valued at $176,000 after purchasing an additional 610 shares in the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Price Performance

Shares of NWSA opened at $26.38 on Wednesday. The firm has a 50-day simple moving average of $28.98 and a two-hundred day simple moving average of $28.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. News Corporation has a 1-year low of $23.38 and a 1-year high of $31.61. The stock has a market cap of $14.90 billion, a PE ratio of 12.68 and a beta of 1.17.

News (NASDAQ:NWSA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the firm posted $0.17 earnings per share. The business's revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts forecast that News Corporation will post 0.94 EPS for the current year.

News Announces Dividend

The firm also recently disclosed a half year 25 dividend, which was paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a dividend yield of 70.0%. News's dividend payout ratio (DPR) is presently 9.62%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of News in a report on Wednesday, October 8th. Macquarie reiterated a "neutral" rating and issued a $32.70 target price on shares of News in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of News from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, News has an average rating of "Buy" and an average target price 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.

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