QRG Capital Management Inc. Boosts Stake in News Corporation $NWSA

Key Points

• QRG Capital Management Inc. increased its stake in News Corporation (NASDAQ:NWSA) by 25.8%, bringing its total ownership to 221,628 shares, worth approximately $6.59 million.
• News Corporation reported an EPS of $0.19 for the last quarter, meeting consensus estimates, with revenues of $2.11 billion.
• The company announced a $0.10 per share dividend scheduled for payment on October 8th, reflecting a yield of 70.0% and a payout ratio of 9.62%.

QRG Capital Management Inc. lifted its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 25.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,628 shares of the company's stock after buying an additional 45,404 shares during the quarter. QRG Capital Management Inc.'s holdings in News were worth $6,587,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of News by 1.6% in the first quarter. Vanguard Group Inc. now owns 51,764,497 shares of the company's stock valued at $1,409,030,000 after buying an additional 812,180 shares in the last quarter. Independent Franchise Partners LLP boosted its stake in shares of News by 2.2% in the first quarter. Independent Franchise Partners LLP now owns 27,189,590 shares of the company's stock valued at $740,101,000 after buying an additional 572,331 shares in the last quarter. Dodge & Cox boosted its stake in shares of News by 18.7% in the first quarter. Dodge & Cox now owns 13,846,298 shares of the company's stock valued at $376,896,000 after buying an additional 2,183,613 shares in the last quarter. 59 North Capital Management LP boosted its stake in shares of News by 24.4% in the first quarter. 59 North Capital Management LP now owns 11,147,654 shares of the company's stock valued at $303,439,000 after buying an additional 2,185,542 shares in the last quarter. Finally, Metropolis Capital Ltd boosted its stake in shares of News by 15.1% in the second quarter. Metropolis Capital Ltd now owns 5,694,353 shares of the company's stock valued at $169,236,000 after buying an additional 747,744 shares in the last quarter. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

News Stock Performance

News stock opened at $28.38 on Monday. The firm has a market capitalization of $16.03 billion, a P/E ratio of 13.64 and a beta of 1.17. The stock has a fifty day moving average price of $29.59 and a 200 day moving average price of $28.44. News Corporation has a 52 week low of $23.38 and a 52 week high of $31.61. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21.

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

News Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of News in a research note on Saturday, September 27th. JPMorgan Chase & Co. boosted their target price on News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Finally, Macquarie reiterated a "neutral" rating and set a $32.70 target price on shares of News in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $38.62.

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.

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