JPMorgan Chase & Co. Has $54.39 Million Stock Holdings in News Corporation $NWSA

JPMorgan Chase & Co. raised its position in News Corporation (NASDAQ:NWSA) by 22.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,770,946 shares of the company’s stock after acquiring an additional 330,513 shares during the period. JPMorgan Chase & Co.’s holdings in News were worth $54,389,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NWSA. CYBER HORNET ETFs LLC acquired a new stake in shares of News during the 2nd quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of News in the third quarter valued at $31,000. Root Financial Partners LLC bought a new position in News in the third quarter worth $35,000. Advisory Services Network LLC acquired a new stake in News during the third quarter worth $35,000. Finally, Brown Brothers Harriman & Co. increased its holdings in News by 154.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after buying an additional 780 shares during the period. Institutional investors own 66.97% of the company’s stock.

News Price Performance

NASDAQ:NWSA opened at $24.05 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.20. The firm has a market cap of $13.36 billion, a PE ratio of 11.85 and a beta of 0.98. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.61. The company’s 50-day moving average price is $24.65 and its two-hundred day moving average price is $26.22.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.07. News had a net margin of 13.35% and a return on equity of 5.94%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the business posted $0.33 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that News Corporation will post 0.94 EPS for the current fiscal year.

News Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.10 per share. This represents a yield of 83.0%. The ex-dividend date of this dividend is Wednesday, March 11th. News’s dividend payout ratio (DPR) is currently 9.85%.

Analysts Set New Price Targets

NWSA has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of News from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Morgan Stanley set a $32.40 price target on shares of News in a research note on Friday, February 6th. Citigroup decreased their price objective on News from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Finally, Weiss Ratings lowered News from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, News currently has an average rating of “Moderate Buy” and an average target price of $37.02.

News Company Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.