State of Michigan Retirement System Acquires 1,000 Shares of News Co. (NASDAQ:NWSA)

State of Michigan Retirement System lifted its holdings in News Co. (NASDAQ:NWSAFree Report) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,954 shares of the company’s stock after buying an additional 1,000 shares during the period. State of Michigan Retirement System’s holdings in News were worth $1,813,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of News by 4.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 71,894,815 shares of the company’s stock worth $1,308,486,000 after purchasing an additional 2,984,601 shares during the period. Vanguard Group Inc. boosted its stake 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 worth $836,992,000 after purchasing an additional 536,547 shares during the period. BlackRock Inc. boosted its stake in shares of News by 0.8% during the 1st quarter. BlackRock Inc. now owns 25,216,349 shares of the company’s stock worth $558,541,000 after purchasing an additional 210,486 shares during the period. State Street Corp boosted its stake in shares of News by 1.0% during the 3rd quarter. State Street Corp now owns 17,052,916 shares of the company’s stock worth $259,329,000 after purchasing an additional 164,957 shares during the period. Finally, Yacktman Asset Management LP boosted its stake in shares of News by 1.7% during the 4th quarter. Yacktman Asset Management LP now owns 16,803,181 shares of the company’s stock worth $305,818,000 after purchasing an additional 286,738 shares during the period. 66.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of News in a research report on Thursday, May 18th. They issued a “hold” rating for the company.

News Price Performance

News stock opened at $19.65 on Friday. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 41.81 and a beta of 1.31. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.26 and a quick ratio of 1.15. News Co. has a 1 year low of $14.87 and a 1 year high of $21.69. The firm has a 50-day moving average of $19.23 and a two-hundred day moving average of $18.40.

News (NASDAQ:NWSAGet Free Report) last released its quarterly earnings data on Thursday, May 11th. The company reported $0.09 earnings per share (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 company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the company earned $0.16 EPS. On average, research analysts forecast that News Co. will post 0.44 earnings per share for the current year.

About News

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for News (NASDAQ:NWSA)

Receive News & Ratings for News Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for News and related companies with MarketBeat.com's FREE daily email newsletter.