Chevy Chase Trust Holdings LLC Has $4 Million Position in News Co. (NASDAQ:NWSA)

Posted by Defense World Staff on May 22nd, 2023

Chevy Chase Trust Holdings LLC reduced its holdings in shares of News Co. (NASDAQ:NWSA – Get Rating) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 219,913 shares of the company’s stock after selling 15,538 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in News were worth $4,002,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of News by 1.3% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 68,910,214 shares of the company’s stock valued at $1,041,234,000 after acquiring an additional 867,547 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of News by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 55,393,232 shares of the company’s stock valued at $836,992,000 after acquiring an additional 536,547 shares in the last quarter. BlackRock Inc. boosted its position in shares of News by 0.6% during the 3rd quarter. BlackRock Inc. now owns 26,208,606 shares of the company’s stock valued at $396,011,000 after acquiring an additional 167,504 shares in the last quarter. State Street Corp boosted its position in News by 1.0% in the third quarter. State Street Corp now owns 17,052,916 shares of the company’s stock valued at $259,329,000 after buying an additional 164,957 shares in the last quarter. Finally, Yacktman Asset Management LP boosted its position in News by 1.7% in the fourth quarter. Yacktman Asset Management LP now owns 16,803,181 shares of the company’s stock valued at $305,818,000 after buying an additional 286,738 shares in the last quarter. 63.84% of the stock is currently owned by institutional investors and hedge funds.

News Price Performance

Shares of NWSA stock opened at $18.58 on Monday. News Co. has a 1 year low of $14.87 and a 1 year high of $21.69. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 39.53 and a beta of 1.31. The firm’s 50 day moving average is $17.09 and its 200-day moving average is $17.99.

News (NASDAQ:NWSA – Get Rating) last issued its earnings results on Thursday, May 11th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. News had a net margin of 2.64% and a return on equity of 4.71%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Sell-side analysts forecast that News Co. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at News

In other news, General Counsel David B. Pitofsky sold 23,750 shares of the stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $17.23, for a total transaction of $409,212.50. Following the completion of the sale, the general counsel now owns 63,956 shares of the company’s stock, valued at $1,101,961.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NWSA shares. StockNews.com started coverage on shares of News in a research report on Thursday. They issued a “hold” rating on the stock. Loop Capital upgraded shares of News from a “hold” rating to a “buy” rating and boosted their price target for the company from $17.00 to $25.00 in a research report on Wednesday, January 25th.

News 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.