News Corporation $NWSA Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its stake in News Corporation by 19.5%, now owning 87,176 shares valued at approximately $2.37 million.
• Several large investors, including Vanguard Group Inc. and 59 North Capital Management LP, have increased their holdings in News Corporation, indicating continued interest in the stock.
• News Corporation reported a quarterly earnings per share of $0.19 and has announced a dividend of $0.10 per share, reflecting a yield of 70.0%.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of News Corporation (NASDAQ:NWSA - Free Report) by 19.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,176 shares of the company's stock after selling 21,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in News were worth $2,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optiver Holding B.V. acquired a new position in News during the fourth quarter valued at $31,000. Sentry Investment Management LLC acquired a new position in shares of News in the first quarter worth about $36,000. Caitong International Asset Management Co. Ltd raised its position in shares of 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 acquiring an additional 1,571 shares during the period. CX Institutional acquired a new position in shares of News in the first quarter worth about $76,000. Finally, Versant Capital Management Inc raised its position in shares of News by 714.9% in the first quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock worth $121,000 after acquiring an additional 3,889 shares during the period. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen downgraded shares of News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. upped their price objective on shares of News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday. Macquarie reiterated a "neutral" rating and issued a $32.70 price objective on shares of News in a research report on Wednesday, August 6th. Finally, Guggenheim reiterated a "buy" rating and issued a $45.00 price objective on shares of News in a research report on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $38.62.

News Price Performance

NASDAQ NWSA traded up $0.6750 during trading hours on Friday, hitting $30.4150. 1,259,333 shares of the company's stock traded hands, compared to its average volume of 3,309,337. News Corporation has a 52-week low of $23.38 and a 52-week high of $30.75. The company has a market capitalization of $17.18 billion, a PE ratio of 14.62 and a beta of 1.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. The firm's 50-day moving average is $29.25 and its 200-day moving average is $28.14.

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

News Dividend Announcement

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