Retirement Systems of Alabama Lowers Stock Position in News Co. (NASDAQ:NWSA)

Retirement Systems of Alabama decreased its position in News Co. (NASDAQ:NWSA) by 1.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,413 shares of the company’s stock after selling 1,235 shares during the period. Retirement Systems of Alabama’s holdings in News were worth $2,195,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of News in the 2nd quarter valued at about $289,000. Fifth Third Bancorp increased its position in shares of News by 3.7% in the second quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock valued at $381,000 after buying an additional 496 shares in the last quarter. Family Firm Inc. acquired a new position in shares of News during the 2nd quarter worth approximately $73,000. Bank of New York Mellon Corp lifted its position in shares of News by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,855,605 shares of the company’s stock valued at $78,729,000 after buying an additional 61,417 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in News by 11.5% in the 2nd quarter. Atomi Financial Group Inc. now owns 10,578 shares of the company’s stock worth $292,000 after acquiring an additional 1,095 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of News from a “buy” rating to a “hold” rating in a research report on Wednesday. Guggenheim lifted their price objective on News from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Loop Capital increased their target price on News from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.33.

News Stock Performance

NASDAQ:NWSA opened at $27.86 on Friday. News Co. has a twelve month low of $22.65 and a twelve month high of $30.03. The company has a market cap of $15.84 billion, a P/E ratio of 44.94 and a beta of 1.35. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $28.21 and its 200-day moving average price is $27.50.

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.