Teza Capital Management LLC Boosts Stake in News Corporation $NWSA

Key Points

• Teza Capital Management LLC increased its holdings in News Corporation by 207.6% in Q1, owning 28,239 shares valued at approximately $769,000.
• News Corporation reported earnings of $0.19 per share for the last quarter, matching analyst expectations and achieving a revenue of $2.11 billion, slightly above estimates.
• The company announced a dividend of $0.10 per share to be paid on October 8th, offering a yield of 70.0%, with a low payout ratio of 9.62%.

Teza Capital Management LLC raised its holdings in shares of News Corporation (NASDAQ:NWSA - Free Report) by 207.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,239 shares of the company's stock after purchasing an additional 19,059 shares during the quarter. Teza Capital Management LLC's holdings in News were worth $769,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in NWSA. Sentry Investment Management LLC bought a new stake in News during the 1st quarter valued at about $36,000. Caitong International Asset Management Co. Ltd raised its stake in shares of News by 12,084.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company's stock valued at $43,000 after acquiring an additional 1,571 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of News in the first quarter valued at approximately $73,000. CX Institutional bought a new position in News in the first quarter worth approximately $76,000. Finally, Versant Capital Management Inc increased its holdings in News by 714.9% during the 1st quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock worth $121,000 after purchasing an additional 3,889 shares during the period. Hedge funds and other institutional investors own 66.97% of the company's stock.

News Stock Down 2.2%

News stock traded down $0.65 during trading hours on Wednesday, reaching $28.77. The stock had a trading volume of 4,806,200 shares, compared to its average volume of 3,354,394. The company has a market cap of $16.25 billion, a price-to-earnings ratio of 13.83 and a beta of 1.18. The business's 50 day moving average price is $29.46 and its 200-day moving average price is $28.15. News Corporation has a 52 week low of $23.38 and a 52 week high of $30.75. 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 issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the firm earned $0.17 EPS. The company's quarterly revenue was up .8% compared to the same quarter last year. Sell-side 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 will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a dividend yield of 70.0%. News's dividend payout ratio (DPR) is presently 9.62%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NWSA shares. JPMorgan Chase & Co. upped their target price on News from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Macquarie reaffirmed a "neutral" rating and issued a $32.70 price objective on shares of News in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $45.00 price target on shares of News in a research report on Thursday, May 15th. One 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 stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $38.62.

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.