News Co. (NASDAQ:NWSA) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in shares of News Co. (NASDAQ:NWSAGet Rating) by 7.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 318,810 shares of the company’s stock after buying an additional 23,211 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of News worth $4,817,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in shares of News by 23.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 68,042,667 shares of the company’s stock worth $1,060,105,000 after buying an additional 12,921,681 shares in the last quarter. Vanguard Group Inc. lifted its stake in News by 2.1% during the first quarter. Vanguard Group Inc. now owns 54,110,547 shares of the company’s stock worth $1,198,548,000 after purchasing an additional 1,088,340 shares during the last quarter. BlackRock Inc. lifted its stake in News by 0.8% during the first quarter. BlackRock Inc. now owns 25,216,349 shares of the company’s stock worth $558,541,000 after purchasing an additional 210,486 shares during the last quarter. Yacktman Asset Management LP lifted its stake in News by 1.4% during the second quarter. Yacktman Asset Management LP now owns 16,452,794 shares of the company’s stock worth $256,335,000 after purchasing an additional 223,976 shares during the last quarter. Finally, Burgundy Asset Management Ltd. lifted its stake in News by 0.8% during the second quarter. Burgundy Asset Management Ltd. now owns 13,056,016 shares of the company’s stock worth $203,413,000 after purchasing an additional 97,498 shares during the last quarter. 63.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NWSA shares. Guggenheim decreased their target price on News to $32.00 in a research note on Thursday, October 20th. Loop Capital upgraded News from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $25.00 in a research note on Wednesday, January 25th. Finally, StockNews.com cut News from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.03.

News Price Performance

Shares of NASDAQ NWSA opened at $20.17 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.12 and a debt-to-equity ratio of 0.34. News Co. has a twelve month low of $14.87 and a twelve month high of $23.73. The stock has a 50 day moving average of $18.71 and a two-hundred day moving average of $17.51. The stock has a market cap of $11.61 billion, a P/E ratio of 25.21 and a beta of 1.27.

News (NASDAQ:NWSAGet Rating) last issued its quarterly earnings data 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). The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.49 billion. News had a net margin of 4.51% and a return on equity of 7.02%. News’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS.

News Company Profile

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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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.

Further Reading

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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