Handelsbanken Fonder AB Buys 41,600 Shares of News Co. (NASDAQ:NWSA)

Handelsbanken Fonder AB increased its position in shares of News Co. (NASDAQ:NWSA) by 38.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,700 shares of the company’s stock after purchasing an additional 41,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in News were worth $3,960,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of News during the 2nd quarter worth approximately $26,000. Acadian Asset Management LLC raised its position in News by 95.1% during the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after purchasing an additional 506 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in News during the first quarter worth $34,000. Covestor Ltd boosted its holdings in shares of News by 125.8% in the 1st quarter. Covestor Ltd now owns 1,727 shares of the company’s stock valued at $45,000 after purchasing an additional 962 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of News in the 2nd quarter valued at $46,000. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NWSA shares. Loop Capital upped their price objective on News from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price target on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $38.00.

News Stock Down 0.3 %

Shares of NWSA opened at $25.91 on Wednesday. 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 Co. has a 52 week low of $19.89 and a 52 week high of $28.62. The stock has a market capitalization of $14.77 billion, a price-to-earnings ratio of 71.97 and a beta of 1.34. The stock has a fifty day moving average of $26.87 and a 200-day moving average of $26.51.

News (NASDAQ:NWSA) last posted its earnings results on Thursday, August 8th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.49 billion. News had a return on equity of 4.51% and a net margin of 2.64%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. As a group, sell-side analysts anticipate that News Co. will post 0.87 earnings per share for the current fiscal year.

News Announces Dividend

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 issued a dividend of $0.10 per share. This represents a yield of 0.7%. The ex-dividend date is Wednesday, September 11th. News’s payout ratio is 55.56%.

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.