News Co. (NASDAQ:NWSA) Shares Bought by Bank of Montreal Can

Bank of Montreal Can increased its stake in shares of News Co. (NASDAQ:NWSA) by 16.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 330,982 shares of the company’s stock after acquiring an additional 47,650 shares during the period. Bank of Montreal Can owned approximately 0.06% of News worth $9,231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NWSA. US Bancorp DE boosted its stake in shares of News by 2.4% in the first quarter. US Bancorp DE now owns 18,406 shares of the company’s stock valued at $482,000 after purchasing an additional 424 shares during the period. Empirical Finance LLC grew its stake in shares of News by 3.5% during the first quarter. Empirical Finance LLC now owns 13,898 shares of the company’s stock valued at $364,000 after acquiring an additional 465 shares in the last quarter. Fifth Third Bancorp increased its position in shares of News by 3.7% during the second quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock worth $381,000 after acquiring an additional 496 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of News by 95.1% in the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after acquiring an additional 506 shares in the last quarter. Finally, CWM LLC grew its stake in News by 7.8% during the 2nd quarter. CWM LLC now owns 7,339 shares of the company’s stock valued at $202,000 after purchasing an additional 532 shares in the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NWSA. JPMorgan Chase & Co. increased their target price on News from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Loop Capital boosted their target price on shares of News from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $38.00.

News Stock Performance

Shares of NWSA opened at $26.50 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.43 and a quick ratio of 1.33. News Co. has a 12-month low of $19.25 and a 12-month high of $28.62. The business’s fifty day moving average price is $27.06 and its 200 day moving average price is $26.49. The stock has a market capitalization of $15.10 billion, a PE ratio of 73.61 and a beta of 1.34.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.49 billion. News had a net margin of 2.64% and a return on equity of 4.51%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 EPS. Equities research analysts forecast that News Co. will post 0.87 EPS for the current year.

News Announces Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 11th will be issued a $0.10 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 11th. News’s dividend payout ratio (DPR) is 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.