TD Asset Management Inc Cuts Stock Position in News Corporation $NWSA

Key Points

• TD Asset Management Inc reduced its stake in News Corporation (NWSA) by 3.6%, holding 403,441 shares valued at approximately $11.99 million as of the latest SEC filing.
• Institutional ownership in News Corporation has increased significantly, with key investments from firms like Nuveen LLC and Dodge & Cox, which expanded their positions by 24.4% and 18.7% respectively.
• Analysts have generally rated News Corporation positively, with a consensus rating of "Buy" and a target price of $38.62, reflecting optimism about the company's future performance.

TD Asset Management Inc lowered its position in News Corporation (NASDAQ:NWSA - Free Report) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 403,441 shares of the company's stock after selling 15,116 shares during the period. TD Asset Management Inc owned approximately 0.07% of News worth $11,990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NWSA. Nuveen LLC purchased a new position in shares of News in the 1st quarter worth approximately $85,213,000. 59 North Capital Management LP grew its position in shares of News by 24.4% in the 1st quarter. 59 North Capital Management LP now owns 11,147,654 shares of the company's stock worth $303,439,000 after buying an additional 2,185,542 shares during the last quarter. Dodge & Cox grew its position in shares of News by 18.7% in the 1st quarter. Dodge & Cox now owns 13,846,298 shares of the company's stock worth $376,896,000 after buying an additional 2,183,613 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of News by 1,025.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,904,943 shares of the company's stock worth $56,615,000 after buying an additional 1,735,668 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of News by 1,338.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,271,263 shares of the company's stock worth $37,782,000 after buying an additional 1,182,858 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NWSA shares. JPMorgan Chase & Co. lifted their price objective on shares of News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Macquarie reissued a "neutral" rating and set a $32.70 target price on shares of News in a research report on Wednesday, August 6th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of News in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $38.62.

News Stock Up 0.4%

NASDAQ:NWSA opened at $26.02 on Friday. The company has a market cap of $14.70 billion, a PE ratio of 12.51 and a beta of 1.17. News Corporation has a twelve month low of $23.38 and a twelve month 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. The company's 50 day moving average is $29.07 and its two-hundred day moving average is $28.39.

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

News Dividend Announcement

The firm also recently disclosed a half year 25 dividend, which was paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th were issued a $0.10 dividend. This represents a dividend yield of 70.0%. The ex-dividend date of this dividend was Wednesday, September 10th. News's dividend payout ratio is 9.62%.

About News

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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