Allspring Global Investments Holdings LLC Sells 45,284 Shares of News Corporation $NWSA

Key Points

• Allspring Global Investments Holdings LLC cut its stake in News Corporation by 47.1%, selling 45,284 shares in Q4 and retaining 50,811 shares valued at about $1.33 million.
• News Corp beat quarterly expectations with $0.40 EPS (vs. $0.33 est.) and $2.36B in revenue (vs. $2.30B), and analysts hold a consensus Moderate Buy rating with an average price target of $37.02.
• The company paid a $0.10 dividend on April 8 (record date March 11), and the stock trades near $24.59 with a 52‑week range of $22.20–$31.61 and a P/E of 12.11.

Allspring Global Investments Holdings LLC lessened its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 47.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,811 shares of the company's stock after selling 45,284 shares during the period. Allspring Global Investments Holdings LLC's holdings in News were worth $1,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NWSA. CYBER HORNET ETFs LLC bought a new stake in News in the 2nd quarter valued at $30,000. Caitong International Asset Management Co. Ltd acquired a new position in News in the 3rd quarter valued at $31,000. Root Financial Partners LLC acquired a new position in News in the 3rd quarter valued at $35,000. Advisory Services Network LLC acquired a new position in News in the 3rd quarter valued at $35,000. Finally, Brown Brothers Harriman & Co. grew its holdings in News by 154.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company's stock valued at $39,000 after buying an additional 780 shares in the last quarter. Institutional investors own 66.97% of the company's stock.

Analyst Upgrades and Downgrades

NWSA has been the topic of a number of research reports. Wall Street Zen raised News from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Citigroup decreased their price objective on News from $40.00 to $39.00 and set a "buy" rating on the stock in a report on Monday, February 9th. Zacks Research raised News from a "strong sell" rating to a "hold" rating in a report on Thursday, March 5th. Weiss Ratings lowered News from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, February 26th. Finally, Morgan Stanley set a $32.40 price objective on News in a report on Friday, February 6th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, News has a consensus rating of "Moderate Buy" and an average price target of $37.02.

News Stock Performance

NWSA opened at $24.59 on Friday. The firm has a market cap of $13.66 billion, a P/E ratio of 12.11 and a beta of 0.91. News Corporation has a 52-week low of $22.20 and a 52-week high of $31.61. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.69 and a current ratio of 1.81. The business's fifty day moving average is $24.07 and its 200-day moving average is $25.72.

News (NASDAQ:NWSA - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.30 billion. News had a return on equity of 5.94% and a net margin of 13.35%.News's quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. Sell-side analysts expect that News Corporation will post 0.94 EPS for the current fiscal year.

News Announces Dividend

The business also recently announced a dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 11th were issued a dividend of $0.10 per share. This represents a dividend yield of 83.0%. The ex-dividend date of this dividend was Wednesday, March 11th. News's dividend payout ratio is 9.85%.

News Company Profile

News Corporation NASDAQ: NWSA is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company's news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron's, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world's largest consumer publishers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.