News Corp (NWSA) Stake Boosted by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board raised its position in News Corp (NASDAQ:NWSA) by 25.8% during the second quarter, Holdings Channel reports. The institutional investor owned 773,939 shares of the company’s stock after buying an additional 158,800 shares during the period. Canada Pension Plan Investment Board’s holdings in News Corp were worth $10,603,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of NWSA. Ameritas Investment Partners Inc. purchased a new position in News Corp during the first quarter valued at $118,000. Mn Services Vermogensbeheer B.V. increased its position in News Corp by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,869 shares of the company’s stock valued at $120,000 after buying an additional 413 shares during the period. Pacer Advisors Inc. increased its position in News Corp by 56.6% in the first quarter. Pacer Advisors Inc. now owns 10,662 shares of the company’s stock valued at $139,000 after buying an additional 3,853 shares during the period. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in News Corp during the first quarter valued at $143,000. Finally, Daiwa Securities Group Inc. increased its position in News Corp by 23.0% in the first quarter. Daiwa Securities Group Inc. now owns 11,237 shares of the company’s stock valued at $146,000 after buying an additional 2,100 shares during the period. Institutional investors own 93.53% of the company’s stock.
Shares of News Corp (NWSA) opened at 13.27 on Friday. The company has a 50 day moving average price of $13.77 and a 200 day moving average price of $13.14. The firm’s market cap is $7.72 billion. News Corp has a 12-month low of $10.99 and a 12-month high of $14.68.
News Corp (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.02. News Corp had a positive return on equity of 1.83% and a negative net margin of 9.07%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the company earned $0.10 EPS. The company’s quarterly revenue was down 6.6% on a year-over-year basis. On average, analysts forecast that News Corp will post $0.46 earnings per share for the current fiscal year.
The business also recently announced a semiannual dividend, which will be paid on Wednesday, October 18th. Investors of record on Wednesday, September 13th will be paid a $0.10 dividend. This represents a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, September 12th. News Corp’s payout ratio is currently -15.63%.
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Several equities analysts have recently weighed in on NWSA shares. Rosenblatt Securities started coverage on News Corp in a research report on Friday, July 14th. They issued a “buy” rating and a $17.00 target price on the stock. Jefferies Group LLC restated a “buy” rating and issued a $17.00 target price on shares of News Corp in a research report on Sunday, July 30th. Finally, Zacks Investment Research downgraded News Corp from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. News Corp presently has an average rating of “Hold” and a consensus target price of $15.20.
News Corp Company Profile
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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