Levin Capital Strategies L.P. Reduces Stock Position in News Co. (NASDAQ:NWSA)

Levin Capital Strategies L.P. cut its stake in shares of News Co. (NASDAQ:NWSA) by 7.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,349 shares of the company’s stock after selling 3,000 shares during the period. Levin Capital Strategies L.P.’s holdings in News were worth $1,057,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NWSA. International Assets Investment Management LLC bought a new position in News in the 2nd quarter worth $26,000. Acadian Asset Management LLC increased its holdings in News by 95.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after acquiring an additional 506 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in News during the 1st quarter worth approximately $34,000. Principal Securities Inc. purchased a new position in News during the fourth quarter valued at approximately $45,000. Finally, Covestor Ltd boosted its position in shares of News by 125.8% in the first quarter. Covestor Ltd now owns 1,727 shares of the company’s stock worth $45,000 after purchasing an additional 962 shares during the period. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

News Price Performance

NWSA stock opened at $26.60 on Tuesday. The company has a market capitalization of $15.12 billion, a PE ratio of 73.89 and a beta of 1.34. The company’s fifty day moving average price is $27.45 and its 200-day moving average price is $26.49. News Co. has a one year low of $19.25 and a one year high of $28.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43.

News (NASDAQ:NWSA) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.49 billion. News had a return on equity of 4.51% and a net margin of 2.64%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 earnings per share. On average, equities analysts anticipate that News Co. will post 0.87 EPS for the current fiscal year.

News Announces Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a dividend yield of 0.7%. News’s dividend payout ratio is currently 55.56%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their target price on shares of News from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th.

News Company 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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.