Mackenzie Financial Corp Has $15.41 Million Stake in News Co. (NASDAQ:NWSA)

Mackenzie Financial Corp grew its stake in shares of News Co. (NASDAQ:NWSA) by 41.8% in the second quarter, Holdings Channel reports. The institutional investor owned 559,087 shares of the company’s stock after purchasing an additional 164,905 shares during the period. Mackenzie Financial Corp’s holdings in News were worth $15,414,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of News by 13.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 230,799 shares of the company’s stock valued at $6,027,000 after buying an additional 27,324 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of News by 3,107.1% during the 1st quarter. Bessemer Group Inc. now owns 59,363 shares of the company’s stock worth $1,555,000 after buying an additional 57,512 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in News by 164.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,443 shares of the company’s stock valued at $1,164,000 after acquiring an additional 27,662 shares during the period. Janney Montgomery Scott LLC raised its stake in News by 73.7% during the first quarter. Janney Montgomery Scott LLC now owns 88,809 shares of the company’s stock worth $2,325,000 after acquiring an additional 37,692 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of News in the 1st quarter valued at $4,300,000. Institutional investors and hedge funds own 66.97% of the company’s stock.

Analyst Ratings Changes

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

News Stock Performance

Shares of NASDAQ:NWSA opened at $26.50 on Monday. The business has a fifty day moving average of $27.06 and a 200-day moving average of $26.49. The firm has a market cap of $15.10 billion, a PE ratio of 73.61 and a beta of 1.34. 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 twelve month low of $19.25 and a twelve month high of $28.62.

News (NASDAQ:NWSA) last announced its earnings results on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. News had a net margin of 2.64% and a return on equity of 4.51%. 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 firm posted $0.14 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis. On average, equities research analysts predict that News Co. will post 0.87 EPS for the current fiscal year.

News Dividend Announcement

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