Proficio Capital Partners LLC acquired a new position in News Co. (NASDAQ:NWS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,052 shares of the company's stock, valued at approximately $823,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. raised its stake in shares of News by 4.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,986 shares of the company's stock valued at $223,000 after acquiring an additional 348 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in News by 101.0% during the third quarter. JPMorgan Chase & Co. now owns 496,926 shares of the company's stock valued at $13,889,000 after purchasing an additional 249,659 shares during the last quarter. Blue Trust Inc. raised its position in shares of News by 72.1% in the fourth quarter. Blue Trust Inc. now owns 3,478 shares of the company's stock valued at $97,000 after purchasing an additional 1,457 shares during the period. GAMMA Investing LLC lifted its stake in shares of News by 28.5% in the fourth quarter. GAMMA Investing LLC now owns 7,790 shares of the company's stock worth $237,000 after buying an additional 1,729 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of News by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 137,034 shares of the company's stock worth $3,830,000 after buying an additional 2,609 shares during the period. Institutional investors own 14.63% of the company's stock.
News Stock Performance
Shares of NASDAQ NWS traded up $0.05 during trading hours on Wednesday, hitting $30.71. 402,882 shares of the company's stock were exchanged, compared to its average volume of 707,698. The stock has a market capitalization of $17.42 billion, a price-to-earnings ratio of 42.03 and a beta of 1.37. The company's 50-day moving average price is $31.93 and its 200-day moving average price is $30.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.65. News Co. has a 1-year low of $23.99 and a 1-year high of $35.25.
News (NASDAQ:NWS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). News had a net margin of 4.22% and a return on equity of 5.31%. On average, sell-side analysts expect that News Co. will post 1.03 earnings per share for the current fiscal year.
News Dividend Announcement
The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, March 12th. This represents a dividend yield of 0.6%. News's payout ratio is 27.40%.
Analyst Ratings Changes
Separately, Seaport Res Ptn upgraded shares of News to a "strong-buy" rating in a report on Friday, January 31st.
Check Out Our Latest Analysis on NWS
News Company Profile
(
Free Report)
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.
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