Canada Pension Plan Investment Board Has $1.47 Million Stake in News Co. (NASDAQ:NWSA)

Posted by on Feb 28th, 2023

Canada Pension Plan Investment Board grew its stake in News Co. (NASDAQ:NWSA – Get Rating) by 238.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,482 shares of the company’s stock after purchasing an additional 68,700 shares during the period. Canada Pension Plan Investment Board’s holdings in News were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ronald Blue Trust Inc. boosted its position in News by 289.4% in the third quarter. Ronald Blue Trust Inc. now owns 2,870 shares of the company’s stock valued at $45,000 after buying an additional 2,133 shares in the last quarter. Quadrant Capital Group LLC grew its position in News by 3,529.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,375 shares of the company’s stock worth $53,000 after acquiring an additional 3,282 shares during the last quarter. Wahed Invest LLC acquired a new position in News in the 2nd quarter worth about $64,000. EverSource Wealth Advisors LLC raised its position in News by 8,144.6% in the third quarter. EverSource Wealth Advisors LLC now owns 4,617 shares of the company’s stock valued at $70,000 after purchasing an additional 4,561 shares during the last quarter. Finally, Dupont Capital Management Corp boosted its stake in shares of News by 34.5% during the third quarter. Dupont Capital Management Corp now owns 6,515 shares of the company’s stock valued at $98,000 after purchasing an additional 1,671 shares in the last quarter. 63.84% of the stock is owned by institutional investors.

News Stock Down 1.0 %

News stock opened at $17.27 on Tuesday. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 33.21 and a beta of 1.28. News Co. has a 52-week low of $14.87 and a 52-week high of $23.07. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.17 and a current ratio of 1.28. The firm has a 50 day moving average price of $19.12 and a two-hundred day moving average price of $17.83.

News (NASDAQ:NWSA – Get Rating) last released its earnings results on Thursday, February 9th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.11). News had a net margin of 2.94% and a return on equity of 5.13%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. News’s quarterly revenue was down 7.2% on a year-over-year basis. Equities analysts predict that News Co. will post 0.55 EPS for the current year.

News Announces Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, April 12th. Stockholders of record on Wednesday, March 15th will be given a $0.10 dividend. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 14th. News’s dividend payout ratio (DPR) is presently 38.46%.

Analyst Ratings Changes

Several equities research analysts recently commented on NWSA shares. StockNews.com downgraded shares of News from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Loop Capital raised shares of News from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $17.00 to $25.00 in a research note on Wednesday, January 25th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.03.

News Company Profile

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News Corp. is a media and information services company, which engages in the creation and distribution of content and other services. It operates through the following segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other. The Digital Real Estate Services segment refers to the firm’s interest in the REA Group, a company with operations focused on property and property-related advertising and services, as well as financial services.

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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