News Corporation $NWSA Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its holdings in News Corporation by 12.6%, acquiring an additional 28,000 shares during the second quarter, bringing its total to 250,995 shares valued at approximately $7.46 million.
• News Corporation's stock has received mixed ratings with JP Morgan raising its target price from $38.00 to $40.00, while Macquarie set a target price of $32.70, reflecting a general sentiment of a "Buy" rating.
• The company recently declared a dividend of $0.10 per share, resulting in a high dividend yield of 70.0% and indicating a low dividend payout ratio of 9.62%.

KLP Kapitalforvaltning AS grew its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 12.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 250,995 shares of the company's stock after buying an additional 28,000 shares during the period. KLP Kapitalforvaltning AS's holdings in News were worth $7,460,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NWSA. Merit Financial Group LLC purchased a new stake in shares of News in the 1st quarter valued at approximately $245,000. Park Avenue Securities LLC grew its stake in shares of News by 14.0% in the 1st quarter. Park Avenue Securities LLC now owns 14,299 shares of the company's stock valued at $389,000 after buying an additional 1,759 shares during the period. GAMMA Investing LLC grew its stake in shares of News by 10.3% in the 1st quarter. GAMMA Investing LLC now owns 9,058 shares of the company's stock valued at $247,000 after buying an additional 847 shares during the period. SG Americas Securities LLC purchased a new stake in shares of News in the 1st quarter valued at approximately $875,000. Finally, CX Institutional purchased a new stake in shares of News in the 1st quarter valued at approximately $76,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NWSA has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of News in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Finally, Macquarie reaffirmed a "neutral" rating and set a $32.70 target price on shares of News in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $38.62.

News Trading Down 2.1%

NASDAQ NWSA opened at $26.46 on Friday. The firm has a 50 day simple moving average of $29.42 and a 200-day simple moving average of $28.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84. News Corporation has a one year low of $23.38 and a one year high of $31.61. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 12.72 and a beta of 1.17.

News (NASDAQ:NWSA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 EPS 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 analyst estimates of $2.09 billion. During the same quarter last year, the firm posted $0.17 earnings per share. The business's revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts anticipate that News Corporation will post 0.94 EPS for the current fiscal year.

News Announces Dividend

The firm also recently disclosed a half year 25 dividend, which was paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a dividend yield of 70.0%. News's dividend payout ratio (DPR) is presently 9.62%.

News Company 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.

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