Sumitomo Mitsui DS Asset Management Company Ltd Has $1.18 Million Stake in News Co. (NASDAQ:NWSA)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in News Co. (NASDAQ:NWSA) by 1.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 42,743 shares of the company’s stock after purchasing an additional 788 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in News were worth $1,177,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Seelaus Asset Management LLC increased its stake in shares of News by 3.8% in the third quarter. Seelaus Asset Management LLC now owns 11,399 shares of the company’s stock valued at $304,000 after buying an additional 417 shares during the period. Ballentine Partners LLC increased its position in News by 3.8% in the 4th quarter. Ballentine Partners LLC now owns 11,576 shares of the company’s stock valued at $319,000 after acquiring an additional 422 shares during the period. Pathstone Holdings LLC lifted its holdings in shares of News by 1.2% during the third quarter. Pathstone Holdings LLC now owns 60,509 shares of the company’s stock worth $1,612,000 after purchasing an additional 730 shares during the period. Wahed Invest LLC increased its holdings in News by 10.3% in the third quarter. Wahed Invest LLC now owns 9,238 shares of the company’s stock valued at $246,000 after purchasing an additional 860 shares during the period. Finally, First Hawaiian Bank raised its position in News by 7.8% during the 4th quarter. First Hawaiian Bank now owns 12,423 shares of the company’s stock worth $342,000 after purchasing an additional 900 shares during the last quarter. 66.97% of the stock is owned by institutional investors and hedge funds.

News Trading Up 0.9 %

Shares of NWSA opened at $29.45 on Wednesday. The business’s 50-day moving average price is $28.16 and its 200-day moving average price is $27.61. The company has a quick ratio of 1.26, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. News Co. has a twelve month low of $22.65 and a twelve month high of $30.03. The stock has a market cap of $16.75 billion, a PE ratio of 40.34 and a beta of 1.35.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. News had a return on equity of 5.31% and a net margin of 4.22%. On average, equities analysts forecast that News Co. will post 0.94 EPS for the current fiscal year.

News Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Wednesday, March 12th. News’s payout ratio is 27.40%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NWSA. StockNews.com upgraded shares of News from a “hold” rating to a “buy” rating in a research report on Monday. UBS Group raised News from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 4th. Guggenheim lifted their price objective on shares of News from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Loop Capital cut their target price on shares of News from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Finally, Seaport Res Ptn upgraded shares of News to a “strong-buy” rating in a report on Friday, January 31st. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $39.25.

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.