KLP Kapitalforvaltning AS Takes Position in News Co. (NASDAQ:NWSA)

KLP Kapitalforvaltning AS acquired a new position in shares of News Co. (NASDAQ:NWSA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 224,295 shares of the company’s stock, valued at approximately $6,177,000.

A number of other institutional investors have also recently bought and sold shares of the company. Ballentine Partners LLC lifted its holdings in shares of News by 3.8% during the 4th quarter. Ballentine Partners LLC now owns 11,576 shares of the company’s stock valued at $319,000 after buying an additional 422 shares during the last quarter. Principal Securities Inc. raised its position in News by 18.5% during the fourth quarter. Principal Securities Inc. now owns 3,334 shares of the company’s stock valued at $92,000 after acquiring an additional 521 shares in the last quarter. Metis Global Partners LLC grew its position in News by 4.4% in the fourth quarter. Metis Global Partners LLC now owns 12,518 shares of the company’s stock worth $345,000 after acquiring an additional 533 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of News by 49.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,989 shares of the company’s stock worth $55,000 after purchasing an additional 660 shares during the last quarter. Finally, Pathstone Holdings LLC raised its holdings in shares of News by 1.2% during the 3rd quarter. Pathstone Holdings LLC now owns 60,509 shares of the company’s stock valued at $1,612,000 after purchasing an additional 730 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NWSA shares. Loop Capital lowered their target price on shares of News from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Citigroup started coverage on News in a report on Friday, January 10th. They set a “buy” rating and a $36.00 price objective on the stock. StockNews.com upgraded News from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Seaport Res Ptn upgraded News to a “strong-buy” rating in a report on Friday, January 31st. Finally, UBS Group upgraded shares of News from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $39.25.

News Stock Up 0.6 %

NWSA opened at $27.46 on Wednesday. The business has a 50 day moving average of $28.17 and a 200-day moving average of $27.78. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 37.62 and a beta of 1.34. The company has a current ratio of 1.73, a quick ratio of 1.65 and a debt-to-equity ratio of 0.22. News Co. has a 1-year low of $22.65 and a 1-year high of $30.69.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. News had a net margin of 4.22% and a return on equity of 5.31%. As a group, sell-side analysts anticipate that News Co. will post 0.94 earnings per share for the current year.

News Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.40 annualized dividend and a yield of 1.46%. News’s dividend payout ratio (DPR) is 27.40%.

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