News Co. (NASDAQ:NWSA) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in shares of News Co. (NASDAQ:NWSA) by 204.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 344,043 shares of the company’s stock after purchasing an additional 231,056 shares during the period. Allspring Global Investments Holdings LLC owned 0.06% of News worth $9,447,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NWSA. Brooklyn Investment Group acquired a new stake in shares of News in the third quarter worth approximately $39,000. R Squared Ltd purchased a new position in News in the fourth quarter valued at approximately $49,000. Wilmington Savings Fund Society FSB purchased a new position in News in the third quarter valued at approximately $85,000. Exchange Traded Concepts LLC raised its holdings in News by 1,419.6% in the third quarter. Exchange Traded Concepts LLC now owns 5,045 shares of the company’s stock valued at $134,000 after buying an additional 4,713 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in News in the fourth quarter valued at approximately $137,000. 66.97% of the stock is owned by institutional investors and hedge funds.

News Stock Performance

News stock opened at $30.21 on Wednesday. The company has a market cap of $17.18 billion, a PE ratio of 41.38 and a beta of 1.35. The company has a fifty day moving average price of $28.18 and a two-hundred day moving average price of $27.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.26. News Co. has a 12 month low of $22.65 and a 12 month high of $30.31.

News (NASDAQ:NWSA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. News had a net margin of 4.22% and a return on equity of 5.31%. Research analysts expect that News Co. will post 0.94 earnings per share for the current year.

News Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Wednesday, March 12th. News’s dividend payout ratio (DPR) is presently 27.40%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Loop Capital dropped their price objective on shares of News from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Seaport Res Ptn upgraded shares of News to a “strong-buy” rating in a research note on Friday, January 31st. StockNews.com upgraded shares of News from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Guggenheim lifted their price objective on shares of News from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, UBS Group upgraded shares of News from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $39.25.

News 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.