Strs Ohio Acquires New Holdings in News Corporation $NWSA

Key Points

• Strs Ohio acquired 91,624 shares of News Corporation valued at approximately $2,494,000 during the first quarter, highlighting increased institutional interest in the company.
• The stock of News Corporation (NASDAQ:NWSA) has seen a recent uptick of 2.3% and currently has a market cap of approximately $16.89 billion.
• News Corporation announced a $0.10 per share dividend to be paid on October 8th, with a yield of 70.0%, and a current dividend payout ratio of 9.62%.

Strs Ohio acquired a new stake in shares of 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 firm acquired 91,624 shares of the company's stock, valued at approximately $2,494,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sentry Investment Management LLC purchased a new stake in News in the first quarter valued at about $36,000. Caitong International Asset Management Co. Ltd raised its stake in News by 12,084.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company's stock valued at $43,000 after buying an additional 1,571 shares during the last quarter. SVB Wealth LLC purchased a new stake in News in the first quarter valued at about $73,000. CX Institutional purchased a new stake in News in the first quarter valued at about $76,000. Finally, Versant Capital Management Inc raised its stake in News by 714.9% in the first quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock valued at $121,000 after buying an additional 3,889 shares during the last quarter. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

News Stock Up 2.3%

Shares of NWSA stock opened at $29.89 on Tuesday. The stock has a 50 day moving average of $29.45 and a 200 day moving average of $28.18. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. The stock has a market cap of $16.89 billion, a P/E ratio of 14.37 and a beta of 1.18. News Corporation has a twelve month low of $23.38 and a twelve month high of $30.75.

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. The company had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%.News's quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $0.17 earnings per share. As a group, sell-side analysts expect that News Corporation will post 0.94 EPS for the current year.

News Announces Dividend

The business also recently declared a half year 25 dividend, which will be paid on Wednesday, October 8th. Investors 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 is Wednesday, September 10th. News's dividend payout ratio (DPR) is currently 9.62%.

Wall Street Analysts Forecast Growth

NWSA has been the subject of a number of research analyst reports. Wall Street Zen cut News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. raised their price objective on News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. 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 equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price 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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