Pinnacle Associates Ltd. Reduces Stake in News Co. (NASDAQ:NWSA)

Pinnacle Associates Ltd. lowered its holdings in News Co. (NASDAQ:NWSAFree Report) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,858 shares of the company’s stock after selling 3,094 shares during the period. Pinnacle Associates Ltd.’s holdings in News were worth $2,525,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Wedmont Private Capital grew its position in News by 3.9% during the 4th quarter. Wedmont Private Capital now owns 12,873 shares of the company’s stock worth $317,000 after acquiring an additional 486 shares during the last quarter. Wahed Invest LLC lifted its stake in shares of News by 9.5% in the 3rd quarter. Wahed Invest LLC now owns 6,008 shares of the company’s stock valued at $121,000 after purchasing an additional 523 shares during the period. Toroso Investments LLC lifted its stake in shares of News by 2.0% in the 1st quarter. Toroso Investments LLC now owns 28,151 shares of the company’s stock valued at $486,000 after purchasing an additional 542 shares during the period. Captrust Financial Advisors lifted its stake in shares of News by 4.0% in the 2nd quarter. Captrust Financial Advisors now owns 14,183 shares of the company’s stock valued at $277,000 after purchasing an additional 544 shares during the period. Finally, DNB Asset Management AS raised its stake in News by 0.5% during the fourth quarter. DNB Asset Management AS now owns 131,605 shares of the company’s stock valued at $3,231,000 after buying an additional 596 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Macquarie raised News from a “neutral” rating to an “outperform” rating in a report on Thursday, February 8th. TheStreet raised News from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Finally, StockNews.com raised News from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $29.50.

Check Out Our Latest Research Report on News

News Price Performance

Shares of News stock opened at $26.18 on Monday. The stock has a 50 day moving average of $25.74 and a 200 day moving average of $23.26. News Co. has a 12 month low of $16.35 and a 12 month high of $28.00. The firm has a market cap of $14.95 billion, a PE ratio of 65.45 and a beta of 1.33. The company has a current ratio of 1.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33.

News (NASDAQ:NWSAGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. News had a return on equity of 4.14% and a net margin of 2.29%. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the company earned $0.14 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, research analysts expect that News Co. will post 0.72 EPS for the current fiscal year.

News Dividend Announcement

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Wednesday, March 13th will be paid a $0.10 dividend. This represents a dividend yield of 0.8%. The ex-dividend date is Tuesday, March 12th. News’s payout ratio is 50.00%.

News Profile

(Free Report)

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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