Mirae Asset Global Investments Co. Ltd. Purchases 2,804 Shares of News Co. (NASDAQ:NWS)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of News Co. (NASDAQ:NWS) by 34.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,051 shares of the company’s stock after buying an additional 2,804 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in News were worth $340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its position in shares of News by 4.4% in the 3rd quarter. State Street Corp now owns 7,069,813 shares of the company’s stock worth $198,254,000 after acquiring an additional 295,631 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in News by 101.0% in the third quarter. JPMorgan Chase & Co. now owns 496,926 shares of the company’s stock worth $13,889,000 after purchasing an additional 249,659 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of News by 3,314.8% during the third quarter. International Assets Investment Management LLC now owns 116,718 shares of the company’s stock valued at $3,262,000 after buying an additional 113,300 shares during the last quarter. Metropolis Capital Ltd boosted its holdings in shares of News by 10.5% in the 3rd quarter. Metropolis Capital Ltd now owns 930,950 shares of the company’s stock valued at $26,020,000 after buying an additional 88,715 shares in the last quarter. Finally, FMR LLC grew its position in shares of News by 362.3% in the 3rd quarter. FMR LLC now owns 94,940 shares of the company’s stock worth $2,654,000 after buying an additional 74,405 shares during the last quarter. Institutional investors own 14.63% of the company’s stock.

News Stock Performance

Shares of NWS opened at $34.30 on Friday. News Co. has a 12 month low of $23.99 and a 12 month high of $34.97. The stock has a fifty day moving average price of $31.42 and a 200-day moving average price of $29.81. The company has a current ratio of 1.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.22. The firm has a market cap of $19.51 billion, a PE ratio of 46.99 and a beta of 1.38.

News (NASDAQ:NWS) last released its earnings results on Wednesday, February 5th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). News had a return on equity of 5.31% and a net margin of 4.22%. Equities research analysts predict that News Co. will post 0.96 earnings per share for the current fiscal year.

News Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th will be issued a $0.10 dividend. This represents a dividend yield of 0.6%. The ex-dividend date is Wednesday, March 12th. News’s dividend payout ratio is presently 27.40%.

Analysts Set New Price Targets

Separately, Seaport Res Ptn raised shares of News to a “strong-buy” rating in a research report on Friday, January 31st.

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