Great Lakes Advisors LLC bought a new stake in shares of News Corporation (NASDAQ:NWSA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 136,692 shares of the company's stock, valued at approximately $3,721,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC raised its position in shares of News by 3.5% in the first quarter. Signaturefd LLC now owns 11,833 shares of the company's stock worth $322,000 after acquiring an additional 398 shares during the period. Horizon Investments LLC raised its holdings in News by 7.7% in the 1st quarter. Horizon Investments LLC now owns 5,575 shares of the company's stock worth $152,000 after purchasing an additional 398 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its position in News by 5.0% during the fourth 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. grew its holdings in News by 10.4% in the first quarter. Mather Group LLC. now owns 6,465 shares of the company's stock valued at $176,000 after purchasing an additional 610 shares during the period. Finally, Ethic Inc. increased its position in shares of News by 2.7% in the fourth quarter. Ethic Inc. now owns 23,629 shares of the company's stock valued at $651,000 after buying an additional 631 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on NWSA. JPMorgan Chase & Co. lifted their price target on shares of News from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Wall Street Zen lowered shares of News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Macquarie reissued a "neutral" rating and set a $32.70 target price on shares of News in a research note on Wednesday, August 6th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $45.00 price target on shares of News in a research note on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $38.62.
Read Our Latest Analysis on News
News Stock Down 2.2%
Shares of NASDAQ:NWSA opened at $28.77 on Thursday. News Corporation has a 52-week low of $23.38 and a 52-week high of $30.75. The company has a quick ratio of 1.72, a current ratio of 1.84 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $29.44 and a two-hundred day moving average of $28.16. The stock has a market cap of $16.25 billion, a P/E ratio of 13.83 and a beta of 1.18.
News (NASDAQ:NWSA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates of $0.19. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.09 billion. News had a net margin of 13.21% and a return on equity of 5.66%. News's quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 earnings per share. On average, research analysts expect that News Corporation will post 0.94 earnings per share for the current year.
News Announces Dividend
The business also recently announced a half year 25 dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a yield of 70.0%. News's dividend payout ratio is presently 9.62%.
About News
(
Free Report)
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.
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