News Corporation $NWSA Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. reduced its stake in News Corporation by 7.1% in the first quarter, selling 67,902 shares and ending with 885,557 shares valued at about $22.1 million.
• News Corp reported better-than-expected quarterly results, posting EPS of $0.21 versus $0.16 expected and revenue of $2.19 billion versus $2.11 billion estimated. Revenue also rose 8.8% year over year.
• Analyst sentiment remains constructive, with multiple firms issuing buy or overweight ratings and the consensus price target sitting at $37.14, above the stock’s recent opening price of $27.73.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 7.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 885,557 shares of the company's stock after selling 67,902 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.16% of News worth $22,077,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NWSA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of News by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,556 shares of the company's stock worth $1,022,000 after purchasing an additional 1,950 shares during the last quarter. United Services Automobile Association purchased a new position in News during the first quarter worth about $206,000. Empowered Funds LLC acquired a new stake in shares of News during the first quarter valued at about $204,000. Focus Partners Wealth raised its stake in shares of News by 44.4% in the 1st quarter. Focus Partners Wealth now owns 16,618 shares of the company's stock valued at $452,000 after acquiring an additional 5,106 shares during the period. Finally, Sivia Capital Partners LLC acquired a new position in shares of News in the 2nd quarter worth approximately $545,000. Institutional investors and hedge funds own 66.97% of the company's stock.

News Stock Performance

Shares of NWSA stock opened at $27.73 on Tuesday. The firm has a 50 day moving average of $26.24 and a two-hundred day moving average of $25.48. The stock has a market capitalization of $15.18 billion, a PE ratio of 13.80 and a beta of 0.89. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. News Corporation has a 52 week low of $22.20 and a 52 week high of $31.61.

News (NASDAQ:NWSA - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.05. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.11 billion. News had a return on equity of 6.12% and a net margin of 12.92%.The company's revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. On average, research analysts predict that News Corporation will post 0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NWSA. Citigroup dropped their target price on shares of News from $39.00 to $38.00 and set a "buy" rating for the company in a report on Wednesday, May 13th. Zacks Research upgraded News from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 9th. Morgan Stanley reaffirmed an "overweight" rating and issued a $34.00 price objective on shares of News in a research note on Sunday, May 10th. Weiss Ratings raised News from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded News from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $37.14.

About News

News Corporation NASDAQ: NWSA is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company's news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron's, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world's largest consumer publishers.

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