News Corporation $NWS is 59 North Capital Management LP's 10th Largest Position

Key Points

• 59 North Capital Management LP reduced its holdings in News Corporation by 12.6%, making it the firm's 10th largest position with approximately 3.8 million shares valued at $115.4 million.
• Multiple hedge funds, including Vanguard Group Inc. and Independent Franchise Partners LLP, have increased their positions in News Corporation, reflecting growing institutional interest.
• The company recently announced a $0.10 semi-annual dividend, set to be paid out on October 8th, with a notable dividend yield of 60.0% and a payout ratio of 9.62%.

59 North Capital Management LP decreased its holdings in shares of News Corporation (NASDAQ:NWS - Free Report) by 12.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,799,973 shares of the company's stock after selling 545,633 shares during the period. News accounts for about 4.2% of 59 North Capital Management LP's portfolio, making the stock its 10th largest position. 59 North Capital Management LP owned 0.67% of News worth $115,405,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Independent Franchise Partners LLP increased its holdings in News by 0.8% during the first quarter. Independent Franchise Partners LLP now owns 9,728,572 shares of the company's stock valued at $295,457,000 after buying an additional 78,855 shares during the period. Vanguard Group Inc. increased its holdings in shares of News by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 6,879,273 shares of the company's stock valued at $208,924,000 after acquiring an additional 344,036 shares during the period. Northern Trust Corp increased its holdings in shares of News by 1.2% in the 4th quarter. Northern Trust Corp now owns 939,188 shares of the company's stock valued at $28,579,000 after acquiring an additional 10,716 shares during the period. Metropolis Capital Ltd raised its position in shares of News by 11.8% in the 1st quarter. Metropolis Capital Ltd now owns 609,566 shares of the company's stock worth $18,513,000 after acquiring an additional 64,248 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of News by 45.7% during the 4th quarter. BNP Paribas Financial Markets now owns 365,124 shares of the company's stock worth $11,111,000 after purchasing an additional 114,542 shares during the last quarter. Hedge funds and other institutional investors own 14.63% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded News to a "strong sell" rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, News presently has a consensus rating of "Buy".

News Stock Performance

Shares of NWS opened at $33.87 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. The firm has a market cap of $19.14 billion, a PE ratio of 16.28 and a beta of 1.18. News Corporation has a 12 month low of $26.25 and a 12 month high of $35.58. The stock has a fifty day moving average price of $33.99 and a 200-day moving average price of $32.36.

News (NASDAQ:NWS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.09 billion. Equities research analysts predict that News Corporation will post 1.03 earnings per share 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. Investors 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.

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