National Bank of Canada FI Has $2.20 Million Position in News Corporation $NWS

Key Points

• National Bank of Canada FI increased its stake in News Corporation (NASDAQ:NWS) by 38.5%, owning 72,484 shares valued at approximately $2.2 million.
• News Corporation reported earnings of $0.19 EPS for the last quarter, exceeding analyst expectations of $0.18 EPS, along with a revenue of $2.11 billion.
• The company declared a semi-annual dividend of $0.10 per share, with a dividend yield of 60.0% for stockholders of record as of September 10th.

National Bank of Canada FI raised its stake in News Corporation (NASDAQ:NWS - Free Report) by 38.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,484 shares of the company's stock after buying an additional 20,160 shares during the quarter. National Bank of Canada FI's holdings in News were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its stake in News by 109.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 26,468 shares of the company's stock valued at $804,000 after buying an additional 13,836 shares during the period. Vanguard Group Inc. increased its holdings in shares of News by 5.3% in the first quarter. Vanguard Group Inc. now owns 6,879,273 shares of the company's stock worth $208,924,000 after acquiring an additional 344,036 shares in the last quarter. Legacy Capital Group California Inc. increased its holdings in shares of News by 11.3% in the first quarter. Legacy Capital Group California Inc. now owns 11,025 shares of the company's stock worth $335,000 after acquiring an additional 1,117 shares in the last quarter. ABC Arbitrage SA increased its holdings in shares of News by 68.5% in the first quarter. ABC Arbitrage SA now owns 12,153 shares of the company's stock worth $369,000 after acquiring an additional 4,942 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of News by 24.7% in the first quarter. Manchester Capital Management LLC now owns 6,236 shares of the company's stock worth $189,000 after acquiring an additional 1,236 shares in the last quarter. Institutional investors and hedge funds own 14.63% of the company's stock.

Analysts Set New Price Targets

Separately, Zacks Research upgraded News to a "strong sell" rating in a report 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. Based on data from MarketBeat, the company has an average rating of "Buy".

News Stock Up 0.5%

Shares of NASDAQ:NWS traded up $0.17 during mid-day trading on Tuesday, reaching $34.40. 117,124 shares of the stock were exchanged, compared to its average volume of 762,331. 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 company has a market cap of $19.47 billion, a P/E ratio of 16.55 and a beta of 1.23. News Corporation has a one year low of $26.25 and a one year high of $35.58. The stock's 50 day simple moving average is $33.55 and its 200-day simple moving average is $32.31.

News (NASDAQ:NWS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. News had a return on equity of 5.66% and a net margin of 13.21%.The firm had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.09 billion. As a group, equities research analysts predict that News Corporation will post 1.03 EPS for the current year.

News Announces Dividend

The firm 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 $0.10 dividend. This represents a dividend yield of 60.0%. The ex-dividend date of this dividend 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.