NorthRock Partners LLC Invests $428,000 in News Corporation $NWSA

Key Points

• NorthRock Partners LLC invested $428,000 in News Corporation, acquiring 14,404 shares of the company's stock during the second quarter.
• Analysts have generally rated News Corporation positively, with a consensus rating of "Buy" and a target price of $38.62.
• The company recently announced a $0.10 dividend paid on October 8th, with a yield of 70.0% and a low dividend payout ratio of 9.62%.

NorthRock Partners LLC acquired a new stake in News Corporation (NASDAQ:NWSA - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,404 shares of the company's stock, valued at approximately $428,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of News by 103.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,344 shares of the company's stock valued at $635,000 after buying an additional 11,898 shares in the last quarter. Patton Fund Management Inc. purchased a new stake in shares of News during the second quarter worth $241,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of News by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,492,665 shares of the company's stock worth $122,290,000 after acquiring an additional 72,438 shares during the period. Bank of New York Mellon Corp grew its position in shares of News by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 3,081,305 shares of the company's stock valued at $83,873,000 after purchasing an additional 39,342 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of News by 11.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,621 shares of the company's stock valued at $1,133,000 after purchasing an additional 4,332 shares during the period. Institutional investors own 66.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NWSA. Weiss Ratings reaffirmed a "buy (b)" rating on shares of News in a report on Wednesday, October 8th. Macquarie reaffirmed a "neutral" rating and set a $32.70 price objective on shares of News in a research note on Wednesday, August 6th. Finally, 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. One 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 stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $38.62.

News Trading Down 0.3%

Shares of News stock opened at $26.57 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. News Corporation has a 1 year low of $23.38 and a 1 year high of $31.61. The firm has a market cap of $15.01 billion, a PE ratio of 12.77 and a beta of 1.17. The company has a 50 day simple moving average of $29.18 and a two-hundred day simple moving average of $28.40.

News (NASDAQ:NWSA - Get Free Report) last posted 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. News had a net margin of 13.21% and a return on equity of 5.66%. The firm had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter last year, the company posted $0.17 EPS. The business's quarterly revenue was up .8% on a year-over-year basis. Analysts expect that News Corporation will post 0.94 earnings per share for the current fiscal year.

News Dividend Announcement

The company also recently announced a half year 25 dividend, which was paid on Wednesday, October 8th. Shareholders 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 yield of 70.0%. News's dividend payout ratio is currently 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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