Corient Private Wealth LLC Cuts Holdings in News Co. (NASDAQ:NWSA)

Corient Private Wealth LLC reduced its stake in shares of News Co. (NASDAQ:NWSA) by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,579 shares of the company’s stock after selling 30,042 shares during the quarter. Corient Private Wealth LLC’s holdings in News were worth $1,448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Natixis Advisors LLC increased its stake in News by 6.4% in the 3rd quarter. Natixis Advisors LLC now owns 32,588 shares of the company’s stock valued at $868,000 after purchasing an additional 1,965 shares in the last quarter. Pathstone Holdings LLC grew its holdings in News by 1.2% in the third quarter. Pathstone Holdings LLC now owns 60,509 shares of the company’s stock valued at $1,612,000 after purchasing an additional 730 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of News during the 3rd quarter worth $358,000. Charles Schwab Investment Management Inc. boosted its position in shares of News by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,337,650 shares of the company’s stock worth $115,512,000 after buying an additional 53,550 shares in the last quarter. Finally, Citigroup Inc. grew its stake in News by 1.2% in the 3rd quarter. Citigroup Inc. now owns 571,280 shares of the company’s stock valued at $15,213,000 after acquiring an additional 6,786 shares during the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NWSA has been the topic of several research reports. Seaport Res Ptn upgraded shares of News to a “strong-buy” rating in a research report on Friday, January 31st. UBS Group upgraded News from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 4th. Citigroup started coverage on News in a research report on Friday, January 10th. They set a “buy” rating and a $36.00 price objective for the company. Loop Capital reduced their target price 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. Finally, Guggenheim boosted their price objective 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. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $39.25.

News Stock Up 0.6 %

NWSA opened at $27.46 on Wednesday. News Co. has a 12 month low of $22.65 and a 12 month high of $30.69. The business has a 50-day moving average of $28.17 and a two-hundred day moving average of $27.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.65. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 37.62 and a beta of 1.34.

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%. On average, research analysts expect that News Co. will post 0.94 earnings per share for the current year.

News Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Wednesday, March 12th. News’s dividend payout ratio (DPR) is presently 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.