Amundi Grows Position in News Corporation $NWSA

Key Points

• Amundi has increased its stake in News Corporation (NASDAQ:NWSA) by 8.7% during the first quarter, now owning over 2.1 million shares valued around $55.75 million.
• Several institutional investors, including Ameriprise Financial and Deutsche Bank, have also significantly increased their holdings in News Corporation, reflecting strong interest in the stock.
• News Corporation recently declared a dividend of $0.10 per share, with an anticipated payment date on October 8th, and a projected earnings per share of 0.94 for the current year.

Amundi increased its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,138,550 shares of the company's stock after purchasing an additional 171,422 shares during the period. Amundi owned approximately 0.38% of News worth $55,752,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sentry Investment Management LLC bought a new stake in News in the first quarter worth $36,000. Caitong International Asset Management Co. Ltd increased its position in News by 12,084.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company's stock worth $43,000 after purchasing an additional 1,571 shares during the last quarter. SVB Wealth LLC bought a new position in News during the first quarter valued at $73,000. CX Institutional bought a new position in News during the first quarter valued at $76,000. Finally, Versant Capital Management Inc increased its position in News by 714.9% during the first quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock valued at $121,000 after acquiring an additional 3,889 shares during the last quarter. Institutional investors own 66.97% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price objective 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. Wall Street Zen cut shares of News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Guggenheim reiterated a "buy" rating and set a $45.00 price objective on shares of News in a research report on Thursday, May 15th. Finally, Macquarie reiterated a "neutral" rating and set a $32.70 price objective on shares of News in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $38.62.

News Trading Down 1.0%

Shares of NASDAQ NWSA traded down $0.29 during mid-day trading on Friday, reaching $29.23. The company had a trading volume of 4,751,894 shares, compared to its average volume of 3,604,052. The business's 50-day moving average is $29.44 and its 200-day moving average is $28.17. 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 stock has a market cap of $16.51 billion, a price-to-earnings ratio of 14.05 and a beta of 1.18. News Corporation has a 52 week low of $23.38 and a 52 week high of $30.75.

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

News Dividend Announcement

The firm also recently disclosed 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 of this dividend 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.