DnB Asset Management AS Boosts Position in News Co. (NASDAQ:NWSA)

DnB Asset Management AS grew its holdings in News Co. (NASDAQ:NWSA) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,993 shares of the company’s stock after acquiring an additional 1,425 shares during the period. DnB Asset Management AS’s holdings in News were worth $1,680,000 at the end of the most recent quarter.

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

News Stock Performance

NASDAQ NWSA opened at $27.00 on Wednesday. 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 $22.65 and a 1-year high of $30.69. The company has a market cap of $15.32 billion, a PE ratio of 36.99 and a beta of 1.34. The stock’s 50 day simple moving average is $28.12 and its 200-day simple moving average is $27.81.

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

News Announces Dividend

The business also recently announced a quarterly 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. This represents a $0.40 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Wednesday, March 12th. News’s dividend payout ratio is currently 27.40%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NWSA shares. Seaport Res Ptn upgraded shares of News to a “strong-buy” rating in a research note on Friday, January 31st. StockNews.com raised shares of News from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. UBS Group upgraded News from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 4th. Citigroup assumed coverage on News in a report on Friday, January 10th. They issued a “buy” rating and a $36.00 price objective on the stock. Finally, Loop Capital reduced 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. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $39.25.

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 through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.