Yacktman Asset Management LP Sells 2,885,358 Shares of News Co. (NASDAQ:NWSA)

Yacktman Asset Management LP cut its stake in News Co. (NASDAQ:NWSA) by 23.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,265,000 shares of the company’s stock after selling 2,885,358 shares during the period. News accounts for about 3.0% of Yacktman Asset Management LP’s portfolio, making the stock its 10th largest position. Yacktman Asset Management LP’s holdings in News were worth $255,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of NWSA. Arlington Partners LLC raised its stake in shares of News by 3.4% in the fourth quarter. Arlington Partners LLC now owns 151,720 shares of the company’s stock worth $4,178,000 after purchasing an additional 5,011 shares during the last quarter. Savant Capital LLC increased its holdings in News by 9.6% in the 4th quarter. Savant Capital LLC now owns 16,076 shares of the company’s stock worth $443,000 after buying an additional 1,411 shares during the period. Wilmington Savings Fund Society FSB raised its position in News by 477.5% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 18,364 shares of the company’s stock worth $506,000 after buying an additional 15,184 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of News by 1.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,743 shares of the company’s stock valued at $1,177,000 after acquiring an additional 788 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of News by 3.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,098 shares of the company’s stock worth $23,302,000 after acquiring an additional 27,216 shares during the period. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Stock Up 0.5 %

Shares of NWSA opened at $29.18 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.22. The firm has a market cap of $16.59 billion, a P/E ratio of 39.97 and a beta of 1.35. The stock’s 50 day moving average is $28.16 and its two-hundred day moving average is $27.60. News Co. has a 12 month low of $22.65 and a 12 month high of $30.03.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. News had a net margin of 4.22% and a return on equity of 5.31%. Analysts predict that News Co. will post 0.94 earnings per share for the current fiscal year.

News Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, March 12th. News’s dividend payout ratio is presently 27.40%.

Wall Street Analysts Forecast Growth

NWSA has been the topic of several recent research reports. Loop Capital lowered their price target on shares of News from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. StockNews.com upgraded News from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group raised News from a “neutral” rating to a “buy” rating in a report on Tuesday, February 4th. Citigroup initiated coverage on shares of News in a research note on Friday, January 10th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Guggenheim boosted their target price on shares of News from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target 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.