Raymond James & Associates raised its stake in shares of News Co. (NASDAQ:NWSA – Free Report) by 14.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,734 shares of the company’s stock after purchasing an additional 7,000 shares during the period. Raymond James & Associates’ holdings in News were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Toroso Investments LLC lifted its stake in News by 2.0% in the first quarter. Toroso Investments LLC now owns 28,151 shares of the company’s stock worth $486,000 after purchasing an additional 542 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in News by 2.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,400 shares of the company’s stock valued at $490,000 after acquiring an additional 604 shares during the period. Norinchukin Bank The increased its stake in News by 3.3% in the first quarter. Norinchukin Bank The now owns 23,553 shares of the company’s stock worth $407,000 after purchasing an additional 745 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of News by 2.8% during the first quarter. Daiwa Securities Group Inc. now owns 27,451 shares of the company’s stock worth $474,000 after purchasing an additional 753 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of News by 50.5% during the fourth quarter. Bessemer Group Inc. now owns 2,313 shares of the company’s stock valued at $42,000 after purchasing an additional 776 shares during the period. Hedge funds and other institutional investors own 65.55% of the company’s stock.
Insider Buying and Selling at News
In related news, CFO Susan Panuccio sold 184,212 shares of News stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $20.97, for a total transaction of $3,862,925.64. Following the completion of the sale, the chief financial officer now owns 165,045 shares of the company’s stock, valued at $3,460,993.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other News news, CFO Susan Panuccio sold 184,212 shares of News stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $20.97, for a total transaction of $3,862,925.64. Following the completion of the transaction, the chief financial officer now owns 165,045 shares in the company, valued at approximately $3,460,993.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marygrace Degrazio sold 9,754 shares of News stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $21.08, for a total value of $205,614.32. Following the transaction, the chief accounting officer now owns 21,722 shares of the company’s stock, valued at $457,899.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,966 shares of company stock worth $5,285,380. 13.60% of the stock is currently owned by insiders.
News Stock Performance
News (NASDAQ:NWSA – Get Free Report) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.49 billion. News had a return on equity of 3.17% and a net margin of 1.51%. The business’s revenue was down 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.37 EPS. On average, sell-side analysts anticipate that News Co. will post 0.73 EPS for the current fiscal year.
News Announces Dividend
The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, October 11th. Shareholders of record on Wednesday, September 13th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a yield of 0.9%. News’s dividend payout ratio is currently 74.07%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on NWSA shares. Guggenheim lifted their price objective on shares of News from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 14th. JPMorgan Chase & Co. boosted their price target on News from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, August 21st. StockNews.com initiated coverage on News in a report on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Morgan Stanley assumed coverage on News in a report on Wednesday, August 16th. They issued an “overweight” rating and a $27.50 target price for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, News has a consensus rating of “Buy” and an average target price of $28.13.
Check Out Our Latest Stock Report on News
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.
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