News Corporation $NWSA is 59 North Capital Management LP’s 2nd Largest Position

59 North Capital Management LP increased its holdings in shares of News Corporation (NASDAQ:NWSA) by 10.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,009,242 shares of the company’s stock after buying an additional 1,358,375 shares during the period. News comprises approximately 13.4% of 59 North Capital Management LP’s investment portfolio, making the stock its 2nd largest holding. 59 North Capital Management LP owned approximately 2.49% of News worth $430,224,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC purchased a new position in News during the second quarter valued at $30,000. Root Financial Partners LLC purchased a new stake in shares of News during the third quarter worth about $35,000. Brown Brothers Harriman & Co. raised its position in shares of News by 154.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after purchasing an additional 780 shares during the last quarter. Rothschild Investment LLC raised its position in shares of News by 120.0% during the 3rd quarter. Rothschild Investment LLC now owns 1,749 shares of the company’s stock worth $54,000 after purchasing an additional 954 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in News by 87.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,396 shares of the company’s stock valued at $74,000 after buying an additional 1,121 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Trading Up 0.5%

Shares of NWSA opened at $23.70 on Friday. News Corporation has a 12-month low of $22.20 and a 12-month high of $31.61. The firm has a market capitalization of $13.16 billion, a P/E ratio of 11.67 and a beta of 0.98. The firm has a 50-day moving average price of $24.88 and a 200 day moving average price of $26.39. The company has a current ratio of 1.81, a quick ratio of 1.69 and a debt-to-equity ratio of 0.20.

News (NASDAQ:NWSA) last issued its earnings results on Thursday, February 5th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.07. News had a net margin of 13.35% and a return on equity of 5.94%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. News’s quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that News Corporation will post 0.94 EPS for the current year.

News Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 11th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, March 11th. This represents a yield of 83.0%. News’s dividend payout ratio is currently 9.85%.

Analysts Set New Price Targets

Several equities research analysts have commented on NWSA shares. Weiss Ratings lowered News from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a research report on Sunday. JPMorgan Chase & Co. lowered their price target on News from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 25th. Citigroup reduced their price objective on News from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Finally, Morgan Stanley set a $32.40 price objective on News in a report on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.02.

About News

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.