News Co. (NASDAQ:NWSA) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of News Co. (NASDAQ:NWSA) by 2.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,857,139 shares of the company’s stock after acquiring an additional 234,893 shares during the quarter. Geode Capital Management LLC’s holdings in News were worth $270,798,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its holdings in News by 2,392.9% in the 4th quarter. Larson Financial Group LLC now owns 1,047 shares of the company’s stock worth $29,000 after acquiring an additional 1,005 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of News during the fourth quarter worth $36,000. R Squared Ltd purchased a new position in shares of News in the fourth quarter valued at $49,000. Smartleaf Asset Management LLC grew its holdings in News by 49.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,989 shares of the company’s stock valued at $55,000 after purchasing an additional 660 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in News during the 3rd quarter worth $85,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Loop Capital lowered their target price on News from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. StockNews.com upgraded News from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Citigroup assumed coverage on News in a research report on Friday, January 10th. They issued a “buy” rating and a $36.00 target price on the stock. Seaport Res Ptn raised shares of News to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Guggenheim upped their price target on shares of News from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $39.25.

News Stock Down 5.7 %

Shares of NASDAQ:NWSA opened at $24.58 on Friday. The company’s fifty day moving average is $27.99 and its two-hundred day moving average is $27.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 1.73. News Co. has a 1-year low of $22.65 and a 1-year high of $30.69. The stock has a market capitalization of $13.95 billion, a price-to-earnings ratio of 33.67 and a beta of 1.34.

News (NASDAQ:NWSA) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. News had a return on equity of 5.31% and a net margin of 4.22%. Equities analysts anticipate that News Co. will post 0.94 EPS for the current year.

News Dividend Announcement

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 paid a $0.10 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.63%. News’s payout ratio is currently 27.40%.

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.