Legacy Capital Group California Inc. Has $302,000 Position in News Co. (NASDAQ:NWS)

Legacy Capital Group California Inc. lifted its holdings in shares of News Co. (NASDAQ:NWS) by 7.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,908 shares of the company’s stock after buying an additional 653 shares during the period. Legacy Capital Group California Inc.’s holdings in News were worth $302,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NWS. Wilmington Savings Fund Society FSB grew its stake in shares of News by 123.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 935 shares of the company’s stock valued at $28,000 after buying an additional 517 shares in the last quarter. Blue Trust Inc. grew its position in shares of News by 253.3% in the 3rd quarter. Blue Trust Inc. now owns 2,021 shares of the company’s stock valued at $57,000 after acquiring an additional 1,449 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of News by 22.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,668 shares of the company’s stock worth $82,000 after purchasing an additional 497 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of News in the 3rd quarter valued at about $86,000. Finally, Glenmede Trust Co. NA lifted its stake in News by 27.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,520 shares of the company’s stock valued at $98,000 after purchasing an additional 763 shares during the last quarter. Institutional investors own 14.63% of the company’s stock.

Analyst Upgrades and Downgrades

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

News Trading Down 1.9 %

Shares of News stock opened at $32.30 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.65. The business has a fifty day simple moving average of $31.71 and a two-hundred day simple moving average of $30.10. News Co. has a 1 year low of $23.99 and a 1 year high of $35.25. The company has a market capitalization of $18.33 billion, a price-to-earnings ratio of 44.25 and a beta of 1.38.

News (NASDAQ:NWS) last posted its earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). News had a return on equity of 5.31% and a net margin of 4.22%. Research analysts forecast that News Co. will post 1.03 EPS for the current year.

News Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th will be given a $0.10 dividend. This represents a dividend yield of 0.6%. The ex-dividend date is Wednesday, March 12th. News’s payout ratio is 27.40%.

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.