Federated Hermes Inc. Sells 438 Shares of News Corporation (NASDAQ:NWSA)

Federated Hermes Inc. cut its holdings in News Corporation (NASDAQ:NWSA) by 20.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,661 shares of the company’s stock after selling 438 shares during the quarter. Federated Hermes Inc.’s holdings in News were worth $45,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Dodge & Cox lifted its holdings in News by 12.0% in the fourth quarter. Dodge & Cox now owns 11,662,685 shares of the company’s stock worth $321,190,000 after buying an additional 1,245,278 shares during the period. 59 North Capital Management LP lifted its holdings in News by 40.2% in the fourth quarter. 59 North Capital Management LP now owns 8,962,112 shares of the company’s stock worth $246,817,000 after buying an additional 2,569,343 shares during the period. Contour Asset Management LLC lifted its holdings in News by 21.1% in the fourth quarter. Contour Asset Management LLC now owns 5,382,702 shares of the company’s stock worth $148,240,000 after buying an additional 936,702 shares during the period. Dimensional Fund Advisors LP lifted its holdings in News by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,963,881 shares of the company’s stock worth $136,706,000 after buying an additional 166,885 shares during the period. Finally, Metropolis Capital Ltd lifted its holdings in News by 11.4% in the first quarter. Metropolis Capital Ltd now owns 4,946,609 shares of the company’s stock worth $134,647,000 after buying an additional 504,751 shares during the period. 66.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen lowered shares of News from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Guggenheim restated a “buy” rating and issued a $45.00 price objective on shares of News in a report on Thursday, May 15th. Finally, Macquarie restated a “neutral” rating and issued a $32.70 price objective on shares of News in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, News presently has an average rating of “Moderate Buy” and a consensus price target of $38.12.

News Price Performance

NWSA stock opened at $28.38 on Tuesday. The firm has a 50 day moving average price of $28.97 and a 200-day moving average price of $28.06. News Corporation has a 52-week low of $23.38 and a 52-week high of $30.75. The firm has a market capitalization of $16.07 billion, a price-to-earnings ratio of 13.64 and a beta of 1.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84.

News (NASDAQ:NWSA) last released its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the business earned $0.17 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Equities research analysts forecast that News Corporation will post 0.94 EPS for the current fiscal year.

News Announces Dividend

The company also recently disclosed a half year 25 dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th will be issued a $0.10 dividend. This represents a yield of 70.0%. The ex-dividend date is Wednesday, September 10th. News’s payout ratio is presently 9.62%.

News Profile

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