Burgundy Asset Management Ltd. Has $63.82 Million Holdings in News Co. (NASDAQ:NWS)

Burgundy Asset Management Ltd. decreased its holdings in News Co. (NASDAQ:NWS) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,247,918 shares of the company’s stock after selling 30,310 shares during the quarter. Burgundy Asset Management Ltd. owned 0.39% of News worth $63,818,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new stake in News during the fourth quarter worth about $675,000. Norges Bank acquired a new stake in News in the fourth quarter valued at about $7,919,000. PNC Financial Services Group Inc. grew its position in News by 7.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 30,844 shares of the company’s stock valued at $793,000 after acquiring an additional 2,237 shares during the last quarter. Hsbc Holdings PLC raised its stake in News by 1.8% during the fourth quarter. Hsbc Holdings PLC now owns 171,282 shares of the company’s stock worth $4,408,000 after acquiring an additional 3,052 shares in the last quarter. Finally, Portfolio Design Labs LLC bought a new position in shares of News in the fourth quarter worth about $476,000. Institutional investors own 14.63% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Loop Capital raised shares of News to a “strong-buy” rating in a research note on Tuesday, September 10th.

News Trading Up 0.5 %

Shares of NWS stock opened at $27.78 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $15.83 billion, a P/E ratio of 77.17 and a beta of 1.37. News Co. has a twelve month low of $20.01 and a twelve month high of $29.59. The stock’s fifty day simple moving average is $28.25 and its 200 day simple moving average is $27.35.

News (NASDAQ:NWS) last posted its earnings results on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter. News had a net margin of 2.64% and a return on equity of 4.51%. The firm had revenue of $2.58 billion for the quarter.

News Announces Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 11th will be given a dividend of $0.10 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 11th. News’s dividend payout ratio is currently 55.56%.

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