Geode Capital Management LLC Has $272.17 Million Position in News Corporation $NWSA

Geode Capital Management LLC increased its stake in shares of News Corporation (NASDAQ:NWSA) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,458,034 shares of the company’s stock after buying an additional 88,157 shares during the quarter. Geode Capital Management LLC’s holdings in News were worth $272,169,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of News during the 3rd quarter worth $31,000. CYBER HORNET ETFs LLC acquired a new stake in News during the second quarter worth about $30,000. Advisory Services Network LLC acquired a new stake in News during the third quarter worth about $35,000. Brown Brothers Harriman & Co. grew its stake in News by 154.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after buying an additional 780 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in News by 561.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock worth $45,000 after buying an additional 1,470 shares in the last quarter. 66.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NWSA. Zacks Research upgraded shares of News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $34.00 target price on shares of News in a report on Sunday, May 10th. Weiss Ratings raised News from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Finally, Citigroup reduced their target price on News from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.14.

News Stock Up 2.7%

Shares of NWSA opened at $26.80 on Tuesday. News Corporation has a 52 week low of $22.20 and a 52 week high of $31.61. The stock has a market capitalization of $14.67 billion, a price-to-earnings ratio of 13.33 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70. The stock has a fifty day moving average of $25.63 and a 200-day moving average of $25.40.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. News had a return on equity of 6.12% and a net margin of 12.92%.The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the company earned $0.17 EPS. News’s revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that News Corporation will post 0.92 earnings per share for the current fiscal year.

News Company Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.