News Corporation $NWS Shares Sold by Deutsche Bank AG

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 lowered its position in shares of News Corporation (NASDAQ:NWS - Free Report) by 15.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 306,907 shares of the company's stock after selling 56,085 shares during the quarter. Deutsche Bank AG owned approximately 0.05% of News worth $9,321,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. grew its position in News by 3,546.2% in the first quarter. First Horizon Advisors Inc. now owns 948 shares of the company's stock worth $29,000 after acquiring an additional 922 shares during the period. Mufg Securities Americas Inc. purchased a new position in News in the fourth quarter worth approximately $50,000. Canada Post Corp Registered Pension Plan purchased a new position in News in the fourth quarter worth approximately $91,000. Point72 Hong Kong Ltd purchased a new position in News in the fourth quarter worth approximately $96,000. Finally, Asset Management One Co. Ltd. grew its position in News by 20.3% in the first quarter. Asset Management One Co. Ltd. now owns 3,210 shares of the company's stock worth $97,000 after acquiring an additional 542 shares during the period. Institutional investors and hedge funds own 14.63% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded News to a "strong sell" rating in a research report on Tuesday, August 12th.

News Trading Up 0.6%

Shares of NWS traded up $0.20 during midday trading on Monday, hitting $34.23. 867,308 shares of the stock were exchanged, compared to its average volume of 766,614. News Corporation has a 52-week low of $26.25 and a 52-week high of $35.58. The stock has a fifty day simple moving average of $33.51 and a 200 day simple moving average of $32.30. The firm has a market cap of $19.34 billion, a P/E ratio of 16.46 and a beta of 1.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84.

News (NASDAQ:NWS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%. On average, research analysts anticipate that News Corporation will post 1.03 EPS for the current fiscal year.

News Announces Dividend

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 paid a $0.10 dividend. This represents a dividend yield of 60.0%. The ex-dividend date is Wednesday, September 10th. News's dividend payout ratio (DPR) is presently 9.62%.

News Company 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.