Nuveen LLC Makes New Investment in News Corporation (NASDAQ:NWSA)

Key Points

• Nuveen LLC has made a significant investment of $85.21 million in News Corporation (NASDAQ:NWSA), acquiring approximately 3.13 million shares.
• Wall Street analysts have provided mixed ratings for NWSA, with the average rating being a "Moderate Buy" and an average target price of $38.12.
• News Corporation recently announced a $0.10 dividend to be paid on October 8th, reflecting a yield of 70.0% and a payout ratio of 9.62%.

Nuveen LLC purchased a new stake in News Corporation (NASDAQ:NWSA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,130,541 shares of the company's stock, valued at approximately $85,213,000. Nuveen LLC owned approximately 0.55% of News as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NWSA. Asset Value Investors Ltd acquired a new stake in shares of News in the fourth quarter valued at approximately $122,391,000. Deutsche Bank AG increased its holdings in News by 291.2% during the fourth quarter. Deutsche Bank AG now owns 4,941,467 shares of the company's stock worth $136,088,000 after buying an additional 3,678,215 shares during the last quarter. 59 North Capital Management LP increased its holdings in News by 40.2% during the fourth quarter. 59 North Capital Management LP now owns 8,962,112 shares of the company's stock worth $246,817,000 after buying an additional 2,569,343 shares during the last quarter. Ion Asset Management Ltd. acquired a new position in News during the fourth quarter worth $45,102,000. Finally, Dodge & Cox increased its holdings in News by 12.0% during the fourth quarter. Dodge & Cox now owns 11,662,685 shares of the company's stock worth $321,190,000 after buying an additional 1,245,278 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Stock Down 1.1%

NASDAQ NWSA traded down $0.33 on Friday, reaching $29.47. The company had a trading volume of 7,741,770 shares, compared to its average volume of 3,240,672. The stock has a market capitalization of $16.68 billion, a P/E ratio of 14.17 and a beta of 1.23. The company's fifty day moving average is $29.10 and its 200 day moving average is $28.10. News Corporation has a 52-week low of $23.38 and a 52-week high of $30.75. The company has a quick ratio of 1.72, a current ratio of 1.84 and a debt-to-equity ratio of 0.21.

News (NASDAQ:NWSA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.19. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS. Sell-side analysts anticipate that News Corporation will post 0.94 earnings per share for the current fiscal year.

News Dividend Announcement

The firm also recently announced a half year 25 dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a dividend yield of 70.0%. News's payout ratio is 9.62%.

Analyst Ratings Changes

A number of research firms have commented on NWSA. Wall Street Zen cut shares of News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Macquarie reissued a "neutral" rating and set a $32.70 target price on shares of News in a research note on Wednesday, August 6th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $45.00 price objective on shares of News in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $38.34.

News 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.