UBS Asset Management Americas Inc. reduced its position in shares of News Co. (NASDAQ:NWSA) by 3.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,324,545 shares of the company’s stock after selling 52,661 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in News were worth $23,802,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in News during the 4th quarter valued at about $29,000. Lazard Asset Management LLC bought a new stake in News during the 4th quarter worth approximately $34,000. Vantage Consulting Group Inc bought a new stake in News during the 4th quarter worth approximately $47,000. Bessemer Group Inc. grew its holdings in News by 13.3% during the 4th quarter. Bessemer Group Inc. now owns 4,563 shares of the company’s stock valued at $82,000 after buying an additional 537 shares in the last quarter. Finally, Private Capital Group LLC grew its holdings in News by 28.1% during the 4th quarter. Private Capital Group LLC now owns 5,895 shares of the company’s stock valued at $106,000 after buying an additional 1,292 shares in the last quarter. Institutional investors and hedge funds own 61.15% of the company’s stock.
A number of research firms recently weighed in on NWSA. Morgan Stanley raised shares of News from an “underweight” rating to an “overweight” rating and raised their target price for the company from $15.00 to $30.00 in a report on Friday, February 12th. JPMorgan Chase & Co. upgraded News from a “neutral” rating to an “overweight” rating and set a $23.00 target price for the company in a research report on Wednesday, January 27th. They noted that the move was a valuation call. Finally, Guggenheim upgraded News from a “neutral” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Wednesday, March 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $24.00.
News (NASDAQ:NWSA) last issued its earnings results on Thursday, February 4th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.25. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.16 billion. News had a positive return on equity of 1.70% and a negative net margin of 11.47%. As a group, equities analysts forecast that News Co. will post 0.23 earnings per share for the current year.
The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, April 14th. Investors of record on Wednesday, March 17th will be given a $0.10 dividend. The ex-dividend date is Tuesday, March 16th. This represents a yield of 0.9%. News’s dividend payout ratio is currently 90.91%.
News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, and MarketWatch through various media channels, such as newspapers, newswires, websites, applications for mobile devices, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, videos, and podcasts.
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