Independent Franchise Partners LLP Has $264 Million Stock Holdings in News Co. (NASDAQ:NWS)

Independent Franchise Partners LLP decreased its holdings in shares of News Co. (NASDAQ:NWS) by 17.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,299,164 shares of the company’s stock after selling 1,973,408 shares during the quarter. News makes up about 2.4% of Independent Franchise Partners LLP’s holdings, making the stock its 17th biggest position. Independent Franchise Partners LLP owned approximately 1.63% of News worth $264,003,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Redwood Investment Management LLC acquired a new stake in News in the 1st quarter worth approximately $636,000. QRG Capital Management Inc. boosted its holdings in shares of News by 183.8% during the 1st quarter. QRG Capital Management Inc. now owns 34,579 shares of the company’s stock worth $936,000 after buying an additional 22,394 shares during the period. Edgestream Partners L.P. grew its stake in News by 156.1% in the 1st quarter. Edgestream Partners L.P. now owns 156,547 shares of the company’s stock valued at $4,236,000 after buying an additional 95,429 shares during the last quarter. SG Americas Securities LLC lifted its position in News by 172.2% during the 2nd quarter. SG Americas Securities LLC now owns 118,499 shares of the company’s stock worth $3,364,000 after acquiring an additional 74,968 shares during the last quarter. Finally, Gabelli Funds LLC grew its position in shares of News by 5.6% in the fourth quarter. Gabelli Funds LLC now owns 103,000 shares of the company’s stock valued at $2,649,000 after purchasing an additional 5,500 shares during the last quarter. Institutional investors own 14.63% of the company’s stock.

News Price Performance

NASDAQ:NWS opened at $27.68 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.43 and a quick ratio of 1.33. The stock has a market cap of $15.77 billion, a P/E ratio of 76.89 and a beta of 1.37. The company has a fifty day moving average price of $28.22 and a 200 day moving average price of $27.36. News Co. has a one year low of $20.01 and a one year high of $29.59.

News (NASDAQ:NWS) last released its earnings results on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter. The business had revenue of $2.58 billion during the quarter. News had a net margin of 2.64% and a return on equity of 4.51%.

News Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 11th. This represents a dividend yield of 0.7%. News’s dividend payout ratio (DPR) is currently 55.56%.

Analyst Ratings Changes

Separately, Loop Capital upgraded News to a “strong-buy” rating in a report on Tuesday, September 10th.

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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.