Vanguard Personalized Indexing Management LLC Sells 3,443 Shares of News Co. (NASDAQ:NWSA)

Vanguard Personalized Indexing Management LLC trimmed its holdings in News Co. (NASDAQ:NWSA) by 8.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,295 shares of the company’s stock after selling 3,443 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in News were worth $1,018,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Contour Asset Management LLC grew its stake in News by 97.8% during the fourth quarter. Contour Asset Management LLC now owns 3,442,650 shares of the company’s stock valued at $84,517,000 after acquiring an additional 1,702,483 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of News by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 2,855,605 shares of the company’s stock worth $78,729,000 after purchasing an additional 61,417 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in shares of News by 249.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,206,990 shares of the company’s stock worth $54,182,000 after buying an additional 1,575,803 shares in the last quarter. Junto Capital Management LP bought a new position in News during the fourth quarter valued at approximately $43,928,000. Finally, Fort Baker Capital Management LP grew its holdings in News by 48.6% during the 4th quarter. Fort Baker Capital Management LP now owns 1,695,158 shares of the company’s stock valued at $41,616,000 after buying an additional 554,365 shares in the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Price Performance

Shares of News stock opened at $26.49 on Tuesday. The stock has a 50 day moving average price of $27.18 and a 200-day moving average price of $26.49. News Co. has a one year low of $19.25 and a one year high of $28.62. The stock has a market cap of $15.10 billion, a price-to-earnings ratio of 73.58 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. News had a net margin of 2.64% and a return on equity of 4.51%. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the business posted $0.14 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. Equities analysts expect that News Co. will post 0.87 EPS for the current year.

News Dividend Announcement

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

Analysts Set New Price Targets

NWSA has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on News from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Loop Capital lifted their price objective on shares of News from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $38.00.

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.