Yacktman Asset Management LP Has $232.15 Million Stake in News Corporation (NASDAQ:NWSA)

Yacktman Asset Management LP decreased its position in shares of News Corporation (NASDAQ:NWSA - Free Report) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,528,584 shares of the company's stock after selling 736,416 shares during the period. News makes up approximately 3.1% of Yacktman Asset Management LP's investment portfolio, making the stock its 9th biggest position. Yacktman Asset Management LP owned 1.50% of News worth $232,148,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. grew its position in shares of News by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 21,962 shares of the company's stock valued at $605,000 after purchasing an additional 418 shares in the last quarter. Boyar Asset Management Inc. grew its position in shares of News by 2.9% during the fourth quarter. Boyar Asset Management Inc. now owns 15,203 shares of the company's stock valued at $419,000 after purchasing an additional 422 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of News by 5.0% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 12,103 shares of the company's stock valued at $333,000 after acquiring an additional 574 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of News by 10.4% in the 1st quarter. Mather Group LLC. now owns 6,465 shares of the company's stock valued at $176,000 after acquiring an additional 610 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of News by 0.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 108,592 shares of the company's stock valued at $2,991,000 after acquiring an additional 611 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company's stock.

News Trading Down 0.4%

NASDAQ NWSA traded down $0.12 during trading on Friday, hitting $29.54. The stock had a trading volume of 1,793,876 shares, compared to its average volume of 2,935,614. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.60 and a current ratio of 1.68. The stock has a market capitalization of $16.72 billion, a price-to-earnings ratio of 34.35 and a beta of 1.23. News Corporation has a one year low of $23.38 and a one year high of $30.69. The stock has a 50 day simple moving average of $28.45 and a 200 day simple moving average of $27.80.

News (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2 billion. News had a return on equity of 5.64% and a net margin of 5.18%. The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 EPS. Sell-side analysts predict that News Corporation will post 0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NWSA has been the subject of a number of analyst reports. Morgan Stanley lowered their price target on shares of News from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Guggenheim reaffirmed a "buy" rating and issued a $45.00 price target on shares of News in a report on Thursday, May 15th. Finally, Wall Street Zen downgraded shares of News from a "buy" rating to a "hold" rating in a report on Friday, May 30th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, News has a consensus rating of "Buy" and a consensus price target of $39.20.

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.