Nykredit A S Acquires New Position in News Corporation $NWSA

Key Points

• Nykredit A/S acquired 71,175 shares of News Corporation in the second quarter, valued at approximately $1.77 million. Institutional investors collectively own 66.97% of the company.
• News Corporation reported quarterly EPS of $0.35, exceeding the $0.21 consensus estimate, while revenue rose 10.8% year over year to $2.34 billion.
• Analysts maintain a generally positive outlook, with five Buy ratings and one Hold rating, an average “Moderate Buy” consensus, and an average price target of $38.50 versus the stock’s reported $29.25 price.

Nykredit A S acquired a new stake in shares of News Corporation (NASDAQ:NWSA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 71,175 shares of the company's stock, valued at approximately $1,767,000.

Other hedge funds also recently bought and sold shares of the company. Compound Planning Inc. grew its stake in News by 5.0% during the first quarter. Compound Planning Inc. now owns 11,184 shares of the company's stock valued at $279,000 after acquiring an additional 537 shares in the last quarter. Patton Fund Management Inc. lifted its stake in News by 9.6% in the 1st quarter. Patton Fund Management Inc. now owns 9,596 shares of the company's stock worth $239,000 after purchasing an additional 843 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of News by 1.6% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,976 shares of the company's stock valued at $1,514,000 after purchasing an additional 900 shares in the last quarter. Root Financial Partners LLC lifted its position in shares of News by 96.2% in the first quarter. Root Financial Partners LLC now owns 2,188 shares of the company's stock worth $55,000 after buying an additional 1,073 shares in the last quarter. Finally, Candriam S.C.A. grew its holdings in News by 9.6% during the 1st quarter. Candriam S.C.A. now owns 16,455 shares of the company's stock valued at $410,000 after buying an additional 1,443 shares in the last quarter. Institutional investors own 66.97% of the company's stock.

News Price Performance

News stock opened at $29.25 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.51. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of 28.40 and a beta of 0.91. The firm has a 50-day moving average of $29.27 and a two-hundred day moving average of $26.92. News Corporation has a 1 year low of $22.20 and a 1 year high of $31.66.

News (NASDAQ:NWSA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.14. News had a return on equity of 7.09% and a net margin of 6.35%.The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the company earned $0.19 EPS. The business's revenue was up 10.8% compared to the same quarter last year. On average, research analysts forecast that News Corporation will post 1.31 earnings per share for the current year.

News Announces Dividend

The business also recently announced a dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, September 9th. This represents a yield of 68.0%. News's dividend payout ratio (DPR) is 19.42%.

Wall Street Analysts Forecast Growth

NWSA has been the subject of a number of recent research reports. Morgan Stanley reissued an "overweight" rating and issued a $35.00 target price on shares of News in a report on Thursday, August 6th. Weiss Ratings upgraded shares of News from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. boosted their target price on shares of News from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Friday, August 21st. Finally, Zacks Research cut shares of News from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $38.50.

News Company Profile

News Corp is a global media and information-services company headquartered in New York. The company owns and operates businesses in news, publishing, digital real estate services and subscription-based information products, serving consumers, businesses and professional audiences across multiple markets.

Its portfolio includes Dow Jones, which provides business news, financial information and research through publications and services such as The Wall Street Journal and Barron's; News UK, publisher of The Times, The Sunday Times and The Sun; and News Corp Australia, which operates newspapers and digital media brands.

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