News Co. (NASDAQ:NWSA) Shares Sold by National Bank of Canada FI

National Bank of Canada FI reduced its stake in shares of News Co. (NASDAQ:NWSA) by 8.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 177,190 shares of the company’s stock after selling 15,935 shares during the period. National Bank of Canada FI’s holdings in News were worth $4,880,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. grew its holdings in News by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 21,962 shares of the company’s stock worth $605,000 after acquiring an additional 418 shares during the period. Ballentine Partners LLC boosted its position in News by 3.8% in the 4th quarter. Ballentine Partners LLC now owns 11,576 shares of the company’s stock worth $319,000 after purchasing an additional 422 shares in the last quarter. Principal Securities Inc. grew its stake in shares of News by 18.5% during the 4th quarter. Principal Securities Inc. now owns 3,334 shares of the company’s stock worth $92,000 after purchasing an additional 521 shares during the period. Metis Global Partners LLC increased its holdings in shares of News by 4.4% during the 4th quarter. Metis Global Partners LLC now owns 12,518 shares of the company’s stock valued at $345,000 after purchasing an additional 533 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of News by 0.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 108,592 shares of the company’s stock valued at $2,991,000 after purchasing an additional 611 shares during the period. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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

News Trading Down 5.7 %

NWSA stock opened at $24.58 on Monday. The business’s 50-day moving average is $27.99 and its 200 day moving average is $27.80. News Co. has a 12-month low of $22.65 and a 12-month high of $30.69. The stock has a market cap of $13.95 billion, a price-to-earnings ratio of 33.67 and a beta of 1.34. The company has a current ratio of 1.73, a quick ratio of 1.65 and a debt-to-equity ratio of 0.22.

News (NASDAQ:NWSA) last issued its quarterly 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 return on equity of 5.31% and a net margin of 4.22%. On average, sell-side analysts anticipate that News Co. will post 0.94 EPS for the current fiscal year.

News Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Wednesday, March 12th. News’s dividend payout ratio is currently 27.40%.

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.