Burgundy Asset Management Ltd. Sells 30,310 Shares of News Co. (NASDAQ:NWS)

Burgundy Asset Management Ltd. lowered its position in News Co. (NASDAQ:NWS) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 2,247,918 shares of the company’s stock after selling 30,310 shares during the period. Burgundy Asset Management Ltd.’s holdings in News were worth $63,818,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. lifted its stake in News by 1.4% in the second quarter. QRG Capital Management Inc. now owns 35,065 shares of the company’s stock valued at $995,000 after buying an additional 486 shares during the period. Covestor Ltd lifted its position in shares of News by 69.9% during the 1st quarter. Covestor Ltd now owns 1,201 shares of the company’s stock valued at $33,000 after acquiring an additional 494 shares during the period. Treasurer of the State of North Carolina boosted its stake in News by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 51,640 shares of the company’s stock worth $1,328,000 after acquiring an additional 500 shares in the last quarter. GAMMA Investing LLC grew its holdings in News by 18.8% in the first quarter. GAMMA Investing LLC now owns 3,392 shares of the company’s stock worth $92,000 after purchasing an additional 537 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in News by 8.7% in the second quarter. Daiwa Securities Group Inc. now owns 7,638 shares of the company’s stock valued at $217,000 after purchasing an additional 612 shares in the last quarter. 14.63% of the stock is owned by institutional investors.

News Stock Up 0.5 %

Shares of NASDAQ:NWS opened at $27.78 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43. News Co. has a 52-week low of $20.01 and a 52-week high of $29.59. The business’s 50 day simple moving average is $28.25 and its two-hundred day simple moving average is $27.35. The firm has a market cap of $15.83 billion, a P/E ratio of 77.17 and a beta of 1.37.

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

News Dividend Announcement

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

Analysts Set New Price Targets

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

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.