News Co. (NASDAQ:NWS) Shares Bought by 59 North Capital Management LP

59 North Capital Management LP lifted its position in News Co. (NASDAQ:NWS - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,345,606 shares of the company's stock after purchasing an additional 986,781 shares during the quarter. News comprises 6.2% of 59 North Capital Management LP's holdings, making the stock its 10th largest position. 59 North Capital Management LP owned approximately 0.76% of News worth $132,237,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NWS. Principal Financial Group Inc. lifted its stake in News by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 137,034 shares of the company's stock valued at $3,830,000 after acquiring an additional 2,609 shares during the period. JPMorgan Chase & Co. grew its position in News by 101.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 496,926 shares of the company's stock worth $13,889,000 after purchasing an additional 249,659 shares during the period. GAMMA Investing LLC raised its stake in shares of News by 28.5% during the 4th quarter. GAMMA Investing LLC now owns 7,790 shares of the company's stock valued at $237,000 after buying an additional 1,729 shares during the last quarter. Czech National Bank lifted its holdings in shares of News by 6.2% in the 4th quarter. Czech National Bank now owns 24,281 shares of the company's stock valued at $739,000 after buying an additional 1,414 shares during the period. Finally, Avanza Fonder AB acquired a new stake in News during the fourth quarter worth about $224,000. Institutional investors and hedge funds own 14.63% of the company's stock.

News Trading Down 0.5 %

NWS stock opened at $31.27 on Friday. News Co. has a 52-week low of $23.99 and a 52-week high of $35.25. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. The firm has a market cap of $17.74 billion, a P/E ratio of 42.84 and a beta of 1.26. The company's 50-day simple moving average is $30.55 and its 200-day simple moving average is $31.00.

News (NASDAQ:NWS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). News had a net margin of 4.22% and a return on equity of 5.31%. As a group, equities analysts forecast that News Co. will post 1.03 EPS for the current fiscal year.

News Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a dividend yield of 0.6%. News's dividend payout ratio is currently 27.40%.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn upgraded News to a "strong-buy" rating in a research report on Friday, January 31st.

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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