News Corporation $NWSA Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its holdings in shares of News Corporation (NASDAQ:NWSA) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,382 shares of the company’s stock after selling 768 shares during the quarter. Fifth Third Bancorp’s holdings in News were worth $457,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Signaturefd LLC increased its position in shares of News by 3.5% during the 1st quarter. Signaturefd LLC now owns 11,833 shares of the company’s stock worth $322,000 after purchasing an additional 398 shares during the last quarter. Horizon Investments LLC increased its position in shares of News by 7.7% during the 1st quarter. Horizon Investments LLC now owns 5,575 shares of the company’s stock worth $152,000 after purchasing an additional 398 shares during the last quarter. GAMMA Investing LLC increased its position in shares of News by 5.4% during the 2nd quarter. GAMMA Investing LLC now owns 9,545 shares of the company’s stock worth $284,000 after purchasing an additional 487 shares during the last quarter. Mather Group LLC. increased its position in shares of News by 10.4% during the 1st quarter. Mather Group LLC. now owns 6,465 shares of the company’s stock worth $176,000 after purchasing an additional 610 shares during the last quarter. Finally, Hartford Investment Management Co. increased its position in shares of News by 2.8% during the 1st quarter. Hartford Investment Management Co. now owns 23,068 shares of the company’s stock worth $628,000 after purchasing an additional 635 shares during the last quarter. 66.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NWSA. Macquarie reissued a “neutral” rating and set a $32.70 price objective on shares of News in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their target price on News from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, News has a consensus rating of “Buy” and a consensus price target of $38.62.

News Stock Performance

Shares of News stock opened at $31.03 on Tuesday. News Corporation has a one year low of $23.38 and a one year high of $31.11. The company has a market cap of $17.53 billion, a PE ratio of 14.92 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84. The business has a 50-day simple moving average of $29.61 and a 200-day simple moving average of $28.38.

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

News Announces Dividend

The business also recently disclosed a half year 25 dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a dividend yield of 70.0%. News’s payout ratio is currently 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.