Nisa Investment Advisors LLC Grows Position in News Co. (NASDAQ:NWSA)

Nisa Investment Advisors LLC raised its stake in News Co. (NASDAQ:NWSA) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 231,486 shares of the company’s stock after buying an additional 4,465 shares during the quarter. Nisa Investment Advisors LLC’s holdings in News were worth $6,188,000 at the end of the most recent quarter.

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

News Price Performance

News stock opened at $27.25 on Friday. The stock has a market cap of $15.49 billion, a P/E ratio of 59.24 and a beta of 1.34. The company has a fifty day simple moving average of $26.63 and a 200-day simple moving average of $26.58. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. News Co. has a 12-month low of $20.35 and a 12-month high of $28.62.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. News had a return on equity of 4.51% and a net margin of 2.64%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the business earned $0.14 EPS. News’s revenue for the quarter was up 5.9% on a year-over-year basis. Equities analysts expect that News Co. will post 0.85 EPS for the current fiscal year.

News Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 11th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a yield of 0.7%. News’s payout ratio is currently 43.48%.

Wall Street Analyst Weigh In

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

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