BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Stock Holdings in News Corporation $NWSA

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. significantly reduced its stake in News Corporation by 91.5%, selling over 1.3 million shares and leaving the fund with approximately 123,602 shares, valued at $3,364,000.
• Several hedge funds have recently altered their positions in News Corporation, with Marshall Wace LLP growing its holdings by an impressive 607.9%, now owning 380,300 shares.
• News Corporation reported $2.11 billion in revenue for the last quarter, exceeding analyst estimates, with an earnings per share (EPS) of $0.19, matching consensus expectations.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its position in News Corporation (NASDAQ:NWSA - Free Report) by 91.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 123,602 shares of the company's stock after selling 1,322,784 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in News were worth $3,364,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of News by 103.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,344 shares of the company's stock worth $635,000 after buying an additional 11,898 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in News by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,492,665 shares of the company's stock valued at $122,290,000 after acquiring an additional 72,438 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in News by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,081,305 shares of the company's stock worth $83,873,000 after purchasing an additional 39,342 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of News by 11.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,621 shares of the company's stock worth $1,133,000 after purchasing an additional 4,332 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of News by 133.1% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 208,218 shares of the company's stock valued at $5,668,000 after purchasing an additional 118,908 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company's stock.

News Trading Up 2.6%

Shares of NASDAQ:NWSA traded up $0.76 during midday trading on Friday, reaching $30.50. 2,448,423 shares of the company's stock were exchanged, compared to its average volume of 3,489,963. The stock has a market cap of $17.23 billion, a price-to-earnings ratio of 14.66 and a beta of 1.23. News Corporation has a fifty-two week low of $23.38 and a fifty-two week high of $30.75. The firm's 50 day simple moving average is $29.31 and its two-hundred day simple moving average is $28.15. 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 (NASDAQ:NWSA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The company 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. News's revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts forecast that News Corporation will post 0.94 EPS for the current fiscal year.

News Announces Dividend

The business also recently announced a half year 25 dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th will be issued a $0.10 dividend. This represents a yield of 70.0%. The ex-dividend date is Wednesday, September 10th. News's dividend payout ratio (DPR) is 9.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NWSA shares. Wall Street Zen lowered News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Macquarie reissued a "neutral" rating and set a $32.70 price target on shares of News in a research report on Wednesday, August 6th. Guggenheim restated a "buy" rating and set a $45.00 price objective on shares of News in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $38.62.

News 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.