News Co. (NASDAQ:NWSA) Position Lessened by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its stake in News Co. (NASDAQ:NWSA) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,060 shares of the company’s stock after selling 3,399 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in News were worth $5,709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new position in News during the 1st quarter valued at about $34,000. Lindbrook Capital LLC boosted its position in News by 153.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,635 shares of the company’s stock worth $40,000 after acquiring an additional 989 shares during the period. Covestor Ltd increased its holdings in shares of News by 125.8% during the first quarter. Covestor Ltd now owns 1,727 shares of the company’s stock valued at $45,000 after purchasing an additional 962 shares during the period. Principal Securities Inc. bought a new stake in shares of News during the fourth quarter valued at about $45,000. Finally, ORG Partners LLC bought a new position in News in the 2nd quarter valued at about $81,000. Institutional investors and hedge funds own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price objective on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, August 15th.

News Price Performance

Shares of NASDAQ NWSA opened at $27.77 on Thursday. News Co. has a twelve month low of $19.25 and a twelve month high of $28.62. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of 77.14 and a beta of 1.33. The firm has a 50-day moving average of $27.37 and a two-hundred day moving average of $26.31. The company has a current ratio of 1.36, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32.

News (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, topping 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 return on equity of 4.28% and a net margin of 2.09%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.14 EPS. As a group, analysts expect that News Co. will post 0.67 earnings per share for the current fiscal year.

News Announces Dividend

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

About News

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.