TD Asset Management Inc Buys 9,381 Shares of News Corporation $NWS

Key Points

• TD Asset Management Inc increased its ownership in News Corporation by 47.3%, acquiring an additional 9,381 shares during the second quarter, which raised its total holdings to 29,214 shares valued at approximately $1,002,000.
• Institutional investors collectively own 14.63% of News Corporation's stock, with multiple firms, including NorthRock Partners LLC and SVB Wealth LLC, making new investments or significantly increasing their positions.
• Analysts have varied opinions on News Corporation's stock, with ratings ranging from Strong Buy to Hold, reflecting expectations for its performance and indicating an average rating of "Buy."

TD Asset Management Inc lifted its stake in shares of News Corporation (NASDAQ:NWS - Free Report) by 47.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,214 shares of the company's stock after purchasing an additional 9,381 shares during the quarter. TD Asset Management Inc's holdings in News were worth $1,002,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NorthRock Partners LLC bought a new position in News in the 2nd quarter valued at about $27,000. SVB Wealth LLC bought a new position in News in the 1st quarter valued at about $27,000. First Horizon Advisors Inc. lifted its position in News by 3,546.2% in the 1st quarter. First Horizon Advisors Inc. now owns 948 shares of the company's stock valued at $29,000 after acquiring an additional 922 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its position in News by 75.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 964 shares of the company's stock valued at $29,000 after acquiring an additional 414 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in News by 150.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,925 shares of the company's stock valued at $58,000 after acquiring an additional 1,156 shares in the last quarter. Institutional investors own 14.63% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on NWS. Zacks Research upgraded shares of News from a "strong sell" rating to a "hold" rating in a research note on Monday, October 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of News in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy".

News Price Performance

NWS stock opened at $29.85 on Thursday. The firm's 50-day moving average price is $32.65 and its two-hundred day moving average price is $32.52. News Corporation has a 12-month low of $26.25 and a 12-month high of $35.58. The stock has a market capitalization of $16.86 billion, a price-to-earnings ratio of 14.35 and a beta of 1.17. 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:NWS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. News had a net margin of 13.21% and a return on equity of 5.66%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. As a group, equities analysts predict that News Corporation will post 1.03 earnings per share for the current year.

News Dividend Announcement

The company also recently announced a semi-annual dividend, which was paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th were paid a $0.10 dividend. This represents a dividend yield of 63.0%. The ex-dividend date was Wednesday, September 10th. News's dividend payout ratio is currently 9.62%.

News Company 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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