American Century Companies Inc. Has $2.97 Million Stock Position in News Corporation $NWSA

Key Points

• American Century Companies Inc. reduced its stake in News Corporation by 36.9% in Q1, selling 63,746 shares and leaving it with 108,936 shares worth approximately $2,965,000.
• News Corporation reported a quarterly earnings per share of $0.19, meeting analysts' expectations, with a revenue of $2.11 billion, slightly above forecasts.
• The firm declared a half-year dividend of $0.10 per share, representing a yield of 70.0%, with the dividend payout scheduled for October 8th.

American Century Companies Inc. lowered its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 36.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,936 shares of the company's stock after selling 63,746 shares during the quarter. American Century Companies Inc.'s holdings in News were worth $2,965,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC grew its stake in shares of News by 3.5% during the 1st quarter. Signaturefd LLC now owns 11,833 shares of the company's stock worth $322,000 after acquiring an additional 398 shares in the last quarter. Horizon Investments LLC grew its stake in shares of News by 7.7% during the 1st quarter. Horizon Investments LLC now owns 5,575 shares of the company's stock worth $152,000 after acquiring an additional 398 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC increased its stake in News by 5.0% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 12,103 shares of the company's stock valued at $333,000 after buying an additional 574 shares during the last quarter. Mather Group LLC. increased its stake in News by 10.4% in the 1st quarter. Mather Group LLC. now owns 6,465 shares of the company's stock valued at $176,000 after buying an additional 610 shares during the last quarter. Finally, Ethic Inc. increased its stake in News by 2.7% in the 4th quarter. Ethic Inc. now owns 23,629 shares of the company's stock valued at $651,000 after buying an additional 631 shares during the last quarter. Institutional investors own 66.97% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on NWSA. JPMorgan Chase & Co. lifted their price target on shares of News from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Guggenheim reiterated a "buy" rating and issued a $45.00 price target on shares of News in a research note on Thursday, May 15th. Macquarie reiterated a "neutral" rating and issued a $32.70 price target on shares of News in a research note on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, News has an average rating of "Buy" and a consensus target price of $38.62.

News Stock Performance

Shares of News stock traded up $0.14 during trading on Friday, hitting $29.44. 3,321,312 shares of the stock were exchanged, compared to its average volume of 3,093,407. The stock has a market capitalization of $16.63 billion, a price-to-earnings ratio of 14.15 and a beta of 1.18. The company has a fifty day moving average price of $29.46 and a 200-day moving average price of $28.15. News Corporation has a 1-year low of $23.38 and a 1-year high of $30.75. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21.

News (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. News had a return on equity of 5.66% and a net margin of 13.21%.The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the firm posted $0.17 EPS. The company's quarterly revenue was up .8% on a year-over-year basis. As a group, equities 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 paid a $0.10 dividend. The ex-dividend date is Wednesday, September 10th. This represents a yield of 70.0%. News's dividend payout ratio is 9.62%.

About News

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.