Russell Investments Group Ltd. cut its stake in shares of News Corporation (NASDAQ:NWSA - Free Report) by 22.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 354,022 shares of the company's stock after selling 104,128 shares during the period. Russell Investments Group Ltd. owned about 0.06% of News worth $9,635,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in 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 acquiring an additional 11,898 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of News by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,492,665 shares of the company's stock worth $122,290,000 after buying an additional 72,438 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of News by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,081,305 shares of the company's stock worth $83,873,000 after buying an additional 39,342 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of News by 11.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,621 shares of the company's stock worth $1,133,000 after buying an additional 4,332 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of News by 133.1% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 208,218 shares of the company's stock worth $5,668,000 after buying an additional 118,908 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.
News Price Performance
Shares of NWSA traded up $0.76 during midday trading on Friday, hitting $30.50. 2,448,423 shares of the company traded hands, compared to its average volume of 3,489,963. The stock has a 50-day moving average of $29.31 and a 200-day moving average of $28.15. News Corporation has a one year low of $23.38 and a one year high of $30.75. The firm has a market cap of $17.23 billion, a P/E ratio of 14.66 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:NWSA - Get Free Report) last announced its quarterly earnings results 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 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. During the same period in the prior year, the business posted $0.17 earnings per share. The company's revenue was up .8% on a year-over-year basis. As a group, sell-side analysts predict that News Corporation will post 0.94 EPS for the current fiscal year.
News Announces Dividend
The firm also recently disclosed a half year 25 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 70.0%. News's payout ratio is presently 9.62%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on NWSA. JPMorgan Chase & Co. boosted their price target on shares of News from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday. Wall Street Zen cut News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Guggenheim restated a "buy" rating and issued a $45.00 price objective on shares of News in a research note on Thursday, May 15th. Finally, Macquarie restated a "neutral" rating and issued a $32.70 price objective on shares of News in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $38.62.
View Our Latest Research Report on NWSA
About News
(
Free Report)
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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