News Co. (NASDAQ:NWSA) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its holdings in shares of News Co. (NASDAQ:NWSA) by 41.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,544 shares of the company’s stock after selling 15,038 shares during the period. Franklin Resources Inc.’s holdings in News were worth $561,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Barclays PLC grew its stake in News by 124.0% during the 3rd quarter. Barclays PLC now owns 14,713,823 shares of the company’s stock valued at $391,832,000 after acquiring an additional 8,144,856 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in News in the 3rd quarter valued at approximately $44,585,000. State Street Corp increased its position in News by 6.1% in the 3rd quarter. State Street Corp now owns 25,799,596 shares of the company’s stock worth $689,397,000 after buying an additional 1,476,224 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of News by 1,815.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,413,158 shares of the company’s stock worth $37,632,000 after buying an additional 1,339,379 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of News by 230.1% in the third quarter. Bank of Montreal Can now owns 1,092,506 shares of the company’s stock worth $28,951,000 after acquiring an additional 761,524 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Stock Performance

News stock opened at $27.48 on Tuesday. The stock has a 50-day simple moving average of $28.41 and a 200 day simple moving average of $27.52. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 44.32 and a beta of 1.35. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 0.30. News Co. has a 12-month low of $22.65 and a 12-month high of $30.03.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NWSA. Guggenheim raised their price target on shares of News from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Loop Capital dropped their price objective on shares of News from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Finally, StockNews.com raised News from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $39.33.

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