Allspring Global Investments Holdings LLC Trims Stake in News Co. (NASDAQ:NWS)

Allspring Global Investments Holdings LLC lessened its stake in shares of News Co. (NASDAQ:NWS) by 15.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,628 shares of the company’s stock after selling 2,996 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in News were worth $505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NWS. Blue Trust Inc. boosted its position in News by 253.3% during the 3rd quarter. Blue Trust Inc. now owns 2,021 shares of the company’s stock valued at $57,000 after acquiring an additional 1,449 shares in the last quarter. International Assets Investment Management LLC boosted its position in News by 3,314.8% during the 3rd quarter. International Assets Investment Management LLC now owns 116,718 shares of the company’s stock valued at $3,262,000 after acquiring an additional 113,300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in News by 41.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,247 shares of the company’s stock valued at $230,000 after acquiring an additional 2,405 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in News during the 3rd quarter valued at $351,000. Finally, State of Alaska Department of Revenue boosted its position in shares of News by 7.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 13,285 shares of the company’s stock worth $371,000 after purchasing an additional 885 shares in the last quarter. Institutional investors own 14.63% of the company’s stock.

News Stock Up 0.1 %

News stock opened at $32.32 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.65. The stock has a market capitalization of $18.34 billion, a price-to-earnings ratio of 44.27 and a beta of 1.38. News Co. has a 1-year low of $23.99 and a 1-year high of $35.25. The business has a fifty day moving average price of $31.73 and a 200-day moving average price of $30.18.

News (NASDAQ:NWS) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 earnings per share 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 forecast that News Co. will post 1.03 EPS for the current fiscal year.

News Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a yield of 0.6%. News’s dividend payout ratio is currently 27.40%.

Analysts Set New Price Targets

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

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.