Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of News Corporation (NASDAQ:NWSA) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 763,382 shares of the company’s stock after selling 2,360 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.13% of News Corporation worth $10,458,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. ING Groep NV increased its holdings in shares of News Corporation by 0.5% in the 2nd quarter. ING Groep NV now owns 21,062 shares of the company’s stock valued at $289,000 after acquiring an additional 102 shares during the period. CIBC Asset Management Inc grew its position in News Corporation by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 43,630 shares of the company’s stock valued at $598,000 after buying an additional 133 shares during the last quarter. New Mexico Educational Retirement Board grew its position in News Corporation by 0.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 38,701 shares of the company’s stock valued at $503,000 after buying an additional 200 shares during the last quarter. Louisiana State Employees Retirement System grew its position in News Corporation by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the company’s stock valued at $325,000 after buying an additional 200 shares during the last quarter. Finally, Advantus Capital Management Inc boosted its position in shares of News Corporation by 0.6% during the 1st quarter. Advantus Capital Management Inc now owns 38,187 shares of the company’s stock worth $496,000 after purchasing an additional 232 shares in the last quarter. 60.62% of the stock is currently owned by institutional investors.
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Several brokerages have commented on NWSA. Zacks Investment Research lowered shares of News Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 price objective on shares of News Corporation in a research report on Sunday, July 30th. Finally, Rosenblatt Securities began coverage on shares of News Corporation in a research report on Friday, July 14th. They issued a “buy” rating and a $17.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. News Corporation has a consensus rating of “Hold” and an average target price of $15.20.
News Corporation (NASDAQ NWSA) opened at 13.03 on Friday. The stock’s 50 day moving average is $13.49 and its 200-day moving average is $13.22. News Corporation has a 1-year low of $10.99 and a 1-year high of $14.68. The firm’s market cap is $7.58 billion.
News Corporation (NASDAQ:NWSA) last announced its earnings results on Thursday, August 10th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.11 billion. News Corporation had a positive return on equity of 1.83% and a negative net margin of 9.07%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. Analysts forecast that News Corporation will post $0.47 EPS for the current year.
The company also recently announced a semiannual dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Wednesday, September 13th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 12th. This represents a dividend yield of 1.49%. News Corporation’s dividend payout ratio (DPR) is currently -15.63%.
About News Corporation
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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