Bank of New York Mellon Corp Boosts Stock Holdings in News Corporation (NASDAQ:NWSA)

Bank of New York Mellon Corp increased its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,081,305 shares of the company's stock after purchasing an additional 39,342 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.54% of News worth $83,873,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in News by 1.9% in the fourth quarter. Franklin Resources Inc. now owns 21,962 shares of the company's stock valued at $605,000 after buying an additional 418 shares during the period. Boyar Asset Management Inc. grew its holdings in shares of News by 2.9% during the fourth quarter. Boyar Asset Management Inc. now owns 15,203 shares of the company's stock valued at $419,000 after buying an additional 422 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its holdings in News by 5.0% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 12,103 shares of the company's stock worth $333,000 after purchasing an additional 574 shares in the last quarter. Mather Group LLC. raised its position 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, Nomura Asset Management Co. Ltd. raised its holdings in shares of News by 0.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 108,592 shares of the company's stock valued at $2,991,000 after purchasing an additional 611 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Guggenheim reaffirmed a "buy" rating and issued a $45.00 target price on shares of News in a report on Thursday, May 15th. Morgan Stanley reduced their price objective on News from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen cut News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $39.20.

News Stock Performance

News stock traded down $0.12 during mid-day trading on Friday, reaching $29.54. The company's stock had a trading volume of 1,793,876 shares, compared to its average volume of 2,937,394. News Corporation has a 12-month low of $23.38 and a 12-month high of $30.69. The company has a market capitalization of $16.72 billion, a P/E ratio of 34.35 and a beta of 1.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.60 and a current ratio of 1.68. The firm's fifty day moving average price is $28.45 and its two-hundred day moving average price is $27.80.

News (NASDAQ:NWSA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). News had a return on equity of 5.64% and a net margin of 5.18%. The business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2 billion. During the same quarter in the previous year, the firm earned $0.13 earnings per share. News's quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts predict that News Corporation will post 0.94 EPS for the current fiscal year.

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.