BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 8,111 Shares of News Co. (NASDAQ:NWSA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in News Co. (NASDAQ:NWSA) by 12.6% in the second quarter, HoldingsChannel reports. The fund owned 72,427 shares of the company’s stock after buying an additional 8,111 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in News were worth $1,866,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Swiss National Bank raised its position in News by 6.4% in the 2nd quarter. Swiss National Bank now owns 1,599,732 shares of the company’s stock worth $41,225,000 after purchasing an additional 96,084 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in shares of News by 140.2% during the first quarter. Schonfeld Strategic Advisors LLC now owns 625,887 shares of the company’s stock valued at $15,916,000 after buying an additional 365,320 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of News by 103.3% in the first quarter. AQR Capital Management LLC now owns 305,581 shares of the company’s stock worth $7,771,000 after buying an additional 155,241 shares during the period. Trexquant Investment LP bought a new stake in shares of News in the 1st quarter valued at about $383,000. Finally, Natixis Advisors L.P. boosted its holdings in News by 3.9% during the 1st quarter. Natixis Advisors L.P. now owns 23,860 shares of the company’s stock valued at $606,000 after acquiring an additional 888 shares during the period. 64.20% of the stock is owned by institutional investors.

NASDAQ NWSA opened at $22.35 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.38. News Co. has a fifty-two week low of $12.79 and a fifty-two week high of $27.97. The stock has a market cap of $13.20 billion, a P/E ratio of 39.91 and a beta of 1.52. The stock has a 50 day simple moving average of $23.46 and a two-hundred day simple moving average of $25.20.

News (NASDAQ:NWSA) last released its quarterly earnings results on Thursday, August 5th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. News had a net margin of 3.53% and a return on equity of 4.44%. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Sell-side analysts predict that News Co. will post 0.57 earnings per share for the current year.

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 13th. Investors of record on Wednesday, September 15th will be given a dividend of $0.10 per share. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 14th. News’s dividend payout ratio is currently 29.85%.

Several brokerages have weighed in on NWSA. Zacks Investment Research downgraded News from a “buy” rating to a “hold” rating and set a $26.00 price objective for the company. in a research report on Friday, July 9th. UBS Group upgraded shares of News from a “neutral” rating to a “buy” rating and set a $24.82 price target for the company in a report on Monday, July 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, News currently has an average rating of “Buy” and a consensus price target of $27.16.

News Company Profile

News Corp. engages in the creation and distribution of media, news, education, and information services. It operates through the following segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The News and Information Services segment consists of Dow Jones, News Corp Australia, News UK, the New York Post, and News America Marketing.

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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