Deutsche Bank AG Reduces Stock Position in News Corporation $NWS

Key Points

• Deutsche Bank AG reduced its stake in News Corporation by 15.5%, holding approximately $9.32 million worth of shares after selling 56,085 shares in the first quarter.
• News Corporation reported $2.11 billion in revenue for the last quarter, outpacing estimates, with earnings per share (EPS) hitting $0.19, slightly above the consensus estimate.
• The company declared a $0.10 semi-annual dividend, providing a dividend yield of 60.0%, with the ex-dividend date set for September 10th.

Deutsche Bank AG cut its holdings in News Corporation (NASDAQ:NWS - Free Report) by 15.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 306,907 shares of the company's stock after selling 56,085 shares during the period. Deutsche Bank AG owned 0.05% of News worth $9,321,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its holdings in News by 22.5% in the fourth quarter. Cetera Investment Advisers now owns 37,171 shares of the company's stock valued at $1,131,000 after acquiring an additional 6,821 shares during the last quarter. Rhumbline Advisers lifted its holdings in News by 1.0% in the first quarter. Rhumbline Advisers now owns 205,729 shares of the company's stock valued at $6,248,000 after acquiring an additional 2,072 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in News in the first quarter valued at approximately $377,000. Wealth Enhancement Advisory Services LLC lifted its holdings in News by 8.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,468 shares of the company's stock valued at $409,000 after acquiring an additional 1,024 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in News by 20.3% in the first quarter. Asset Management One Co. Ltd. now owns 3,210 shares of the company's stock valued at $97,000 after acquiring an additional 542 shares during the last quarter. 14.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded News to a "strong sell" rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy".

News Stock Down 1.0%

Shares of News stock traded down $0.35 during trading hours on Wednesday, reaching $34.22. 527,691 shares of the company were exchanged, compared to its average volume of 817,005. News Corporation has a 1 year low of $26.25 and a 1 year high of $35.58. The stock's fifty day moving average is $33.65 and its 200 day moving average is $32.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84. The firm has a market cap of $19.33 billion, a PE ratio of 16.45 and a beta of 1.23.

News (NASDAQ:NWS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. News had a return on equity of 5.66% and a net margin of 13.21%.The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. As a group, equities research analysts forecast that News Corporation will post 1.03 earnings per share for the current year.

News Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a dividend yield of 60.0%. News's dividend payout ratio is currently 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.