Korea Investment CORP Sells 79,900 Shares of News Corporation $NWSA

Key Points

• Korea Investment CORP has reduced its holdings in News Corporation by 27.0%, now owning $5.88 million worth of shares after selling 79,900 shares in the first quarter.
• The company reported $0.19 EPS for the quarter, matching analysts' expectations, with revenue of $2.11 billion, slightly exceeding estimates.
• News Corporation announced a dividend of $0.10 per share, to be paid on October 8, providing a dividend yield of 70.0% based on its current stock price.

Korea Investment CORP lowered its holdings in shares of News Corporation (NASDAQ:NWSA - Free Report) by 27.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,162 shares of the company's stock after selling 79,900 shares during the period. Korea Investment CORP's holdings in News were worth $5,884,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Northern Trust Corp lifted its stake in shares of News by 6.0% in the 1st quarter. Northern Trust Corp now owns 4,193,906 shares of the company's stock worth $114,158,000 after acquiring an additional 237,730 shares during the period. Northwest & Ethical Investments L.P. increased its position in shares of News by 42.0% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 48,713 shares of the company's stock valued at $1,326,000 after purchasing an additional 14,405 shares during the period. Global Endowment Management LP acquired a new stake in shares of News in the first quarter valued at $376,000. Brandywine Global Investment Management LLC bought a new position in News during the first quarter valued at about $6,227,000. Finally, Element Capital Management LLC acquired a new position in News during the first quarter worth about $2,703,000. 66.97% of the stock is owned by institutional investors and hedge funds.

News Stock Down 1.2%

Shares of NASDAQ NWSA traded down $0.36 during mid-day trading on Monday, reaching $30.14. The company had a trading volume of 1,959,286 shares, compared to its average volume of 3,495,766. 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 company has a market capitalization of $17.03 billion, a price-to-earnings ratio of 14.49 and a beta of 1.23. The stock has a fifty day moving average of $29.35 and a two-hundred day moving average of $28.15. News Corporation has a 12-month low of $23.38 and a 12-month high of $30.75.

News (NASDAQ:NWSA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. News had a net margin of 13.21% and a return on equity of 5.66%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 earnings per share. As a group, equities research analysts expect that News Corporation will post 0.94 EPS 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. 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 payout ratio is 9.62%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NWSA. Guggenheim reiterated a "buy" rating and issued a $45.00 target price on shares of News in a report on Thursday, May 15th. Macquarie reaffirmed a "neutral" rating and issued a $32.70 price target on shares of News in a report on Wednesday, August 6th. JPMorgan Chase & Co. raised their price objective on News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Finally, Wall Street Zen lowered News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price 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.