News Corporation $NWSA Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd trimmed its position in shares of News Corporation (NASDAQ:NWSA) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,862 shares of the company’s stock after selling 3,123 shares during the quarter. IFM Investors Pty Ltd’s holdings in News were worth $2,492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sentry Investment Management LLC acquired a new position in News during the first quarter worth about $36,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of News by 12,084.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company’s stock worth $43,000 after purchasing an additional 1,571 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of News during the first quarter worth $73,000. CX Institutional acquired a new stake in shares of News during the first quarter worth $76,000. Finally, Versant Capital Management Inc raised its stake in News by 714.9% during the first quarter. Versant Capital Management Inc now owns 4,433 shares of the company’s stock worth $121,000 after purchasing an additional 3,889 shares during the period. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Trading Up 0.6%

Shares of NASDAQ:NWSA opened at $30.81 on Tuesday. The company has a 50 day moving average of $29.54 and a 200-day moving average of $28.26. The firm has a market cap of $17.41 billion, a P/E ratio of 14.81 and a beta of 1.18. News Corporation has a twelve month low of $23.38 and a twelve month high of $30.88. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21.

News (NASDAQ:NWSA) last released its earnings results on Tuesday, August 5th. The company reported $0.19 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 business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, analysts anticipate that News Corporation will post 0.94 earnings per share for the current fiscal year.

News Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Macquarie reaffirmed a “neutral” rating and set a $32.70 price target on shares of News in a research note on Wednesday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of News from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Finally, Wall Street Zen downgraded shares of News from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, News presently has a consensus rating of “Buy” and a consensus target price of $38.62.

About News

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.