Nuveen LLC Invests $8.39 Million in News Corporation $NWS

Key Points

• Nuveen LLC has acquired **276,373 shares** of News Corporation, valued at around **$8.39 million**, during the first quarter of this year.
• News Corporation reported **$0.19 earnings per share** for its last quarter, beating estimates of **$0.18**, alongside a **revenue of $2.11 billion**.
• The company declared a **semi-annual dividend** of **$0.10 per share** to be paid on **October 8**, with a **dividend yield of 60.0%**.

Nuveen LLC bought a new position in shares of News Corporation (NASDAQ:NWS - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 276,373 shares of the company's stock, valued at approximately $8,393,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI raised its stake in News by 38.5% in the 1st quarter. National Bank of Canada FI now owns 72,484 shares of the company's stock valued at $2,201,000 after acquiring an additional 20,160 shares during the period. Charles Schwab Investment Management Inc. raised its stake in News by 109.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 26,468 shares of the company's stock valued at $804,000 after acquiring an additional 13,836 shares during the period. Vanguard Group Inc. raised its stake in 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. Legacy Capital Group California Inc. raised its stake in News by 11.3% in the 1st quarter. Legacy Capital Group California Inc. now owns 11,025 shares of the company's stock valued at $335,000 after acquiring an additional 1,117 shares during the period. Finally, ABC Arbitrage SA raised its stake in News by 68.5% in the 1st quarter. ABC Arbitrage SA now owns 12,153 shares of the company's stock valued at $369,000 after acquiring an additional 4,942 shares during the period. 14.63% of the stock is currently owned by institutional investors.

News Price Performance

Shares of NWS traded down $0.18 during midday trading on Wednesday, hitting $34.11. 420,130 shares of the company traded hands, compared to its average volume of 755,772. The stock has a 50-day moving average of $33.88 and a 200-day moving average of $32.38. News Corporation has a one year low of $26.25 and a one year high of $35.58. The firm has a market cap of $19.27 billion, a P/E ratio of 16.40 and a beta of 1.23. 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 (NASDAQ:NWS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, beating 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 analysts' expectations of $2.09 billion. As a group, sell-side analysts predict that News Corporation will post 1.03 EPS for the current fiscal year.

News Announces Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a dividend yield of 60.0%. News's payout ratio is presently 9.62%.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded News to a "strong sell" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, News currently has an average rating of "Buy".

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.