Toronto Dominion Bank Lowers Stock Holdings in News Co. (NASDAQ:NWSA)

Toronto Dominion Bank lowered its position in shares of News Co. (NASDAQ:NWSAGet Rating) by 18.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,068 shares of the company’s stock after selling 43,286 shares during the period. Toronto Dominion Bank’s holdings in News were worth $2,899,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Qube Research & Technologies Ltd increased its position in shares of News by 63.7% during the first quarter. Qube Research & Technologies Ltd now owns 439,367 shares of the company’s stock valued at $9,732,000 after acquiring an additional 170,975 shares in the last quarter. Spire Wealth Management grew its position in News by 9.5% in the 2nd quarter. Spire Wealth Management now owns 9,322 shares of the company’s stock worth $145,000 after purchasing an additional 812 shares during the period. Pinebridge Investments L.P. grew its position in News by 77.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 361,145 shares of the company’s stock worth $5,627,000 after purchasing an additional 157,852 shares during the period. Inspire Investing LLC grew its position in News by 25.2% in the 2nd quarter. Inspire Investing LLC now owns 19,953 shares of the company’s stock worth $311,000 after purchasing an additional 4,010 shares during the period. Finally, New York State Teachers Retirement System grew its position in News by 2.0% in the 2nd quarter. New York State Teachers Retirement System now owns 615,504 shares of the company’s stock worth $9,590,000 after purchasing an additional 12,240 shares during the period. Institutional investors own 64.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NWSA shares. Guggenheim cut their target price on shares of News to $32.00 in a research report on Thursday, October 20th. StockNews.com cut shares of News from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Loop Capital cut shares of News from a “buy” rating to a “hold” rating and dropped their price target for the stock from $30.00 to $17.00 in a research note on Monday, October 17th. Finally, Macquarie cut shares of News from an “outperform” rating to a “neutral” rating and set a $21.10 price target on the stock. in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.37.

News Stock Up 2.2 %

NWSA opened at $18.23 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.12 and a current ratio of 1.25. News Co. has a fifty-two week low of $14.87 and a fifty-two week high of $23.73. The firm’s fifty day moving average is $16.56 and its 200 day moving average is $16.75. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 22.79 and a beta of 1.28.

News (NASDAQ:NWSAGet Rating) last released its earnings results on Tuesday, November 8th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.08). News had a net margin of 4.51% and a return on equity of 7.02%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the firm posted $0.23 EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts forecast that News Co. will post 0.99 earnings per share for the current fiscal year.

About News

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News Corp. is a media and information services company, which engages in the creation and distribution of content and other services. It operates through the following segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other. The Digital Real Estate Services segment refers to the firm’s interest in the REA Group, a company with operations focused on property and property-related advertising and services, as well as financial services.

See Also

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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