Chevy Chase Trust Holdings Inc. increased its position in shares of News Corporation (NASDAQ:NWSA) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 329,360 shares of the company’s stock after buying an additional 208 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.06% of News Corporation worth $4,512,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of NWSA. GSA Capital Partners LLP purchased a new stake in News Corporation during the fourth quarter worth about $348,000. Teachers Advisors LLC increased its stake in News Corporation by 6.3% in the fourth quarter. Teachers Advisors LLC now owns 473,553 shares of the company’s stock worth $5,427,000 after buying an additional 28,211 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in News Corporation during the fourth quarter worth about $318,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in News Corporation during the fourth quarter worth about $142,000. Finally, Highbridge Capital Management LLC purchased a new stake in News Corporation during the fourth quarter worth about $2,283,000. 93.53% of the stock is owned by institutional investors.
News Corporation (NASDAQ NWSA) traded up 0.30% during trading on Friday, reaching $13.27. The company had a trading volume of 2,004,745 shares. The stock’s market capitalization is $7.72 billion. News Corporation has a 12-month low of $10.99 and a 12-month high of $14.68. The stock has a 50 day moving average of $13.78 and a 200-day moving average of $13.13.
News Corporation (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.02. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.83%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the company earned $0.10 EPS. News Corporation’s revenue was down 6.6% on a year-over-year basis. On average, analysts forecast that News Corporation will post $0.46 earnings per share for the current fiscal year.
The firm also recently announced a semiannual dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Wednesday, September 13th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, September 12th. This represents a dividend yield of 1.49%. News Corporation’s dividend payout ratio is -15.63%.
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Several research firms recently issued reports on NWSA. Zacks Investment Research lowered News Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Rosenblatt Securities initiated coverage on News Corporation in a research note on Friday, July 14th. They issued a “buy” rating and a $17.00 target price for the company. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $17.00 target price on shares of News Corporation in a research note on Monday, May 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. News Corporation presently has an average rating of “Hold” and an average price target of $15.20.
About News Corporation
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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