US Bancorp DE Grows Stock Holdings in News Corporation (NASDAQ:NWSA)

US Bancorp DE lifted its stake in shares of News Corporation (NASDAQ:NWSA) by 8.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,720 shares of the company’s stock after buying an additional 1,538 shares during the quarter. US Bancorp DE’s holdings in News were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Natixis Advisors LLC increased its position in shares of News by 3.4% during the first quarter. Natixis Advisors LLC now owns 33,601 shares of the company’s stock valued at $915,000 after buying an additional 1,103 shares during the period. Bayforest Capital Ltd purchased a new position in shares of News during the first quarter valued at about $515,000. Vestcor Inc increased its position in shares of News by 2,873.4% during the first quarter. Vestcor Inc now owns 136,510 shares of the company’s stock valued at $3,716,000 after buying an additional 131,919 shares during the period. XTX Topco Ltd purchased a new position in shares of News during the first quarter valued at about $762,000. Finally, Norden Group LLC purchased a new position in shares of News during the first quarter valued at about $201,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Wall Street Analysts Forecast Growth

NWSA has been the topic of several research analyst reports. Guggenheim reiterated a “buy” rating and set a $45.00 price target on shares of News in a research report on Thursday, May 15th. Macquarie reiterated a “neutral” rating and set a $32.70 price target on shares of News in a research report on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of News from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, News has a consensus rating of “Moderate Buy” and a consensus price target of $38.12.

News Trading Down 0.5%

NASDAQ:NWSA opened at $28.38 on Tuesday. News Corporation has a one year low of $23.38 and a one year high of $30.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. The company’s 50-day simple moving average is $28.97 and its 200 day simple moving average is $28.06. The firm has a market capitalization of $16.07 billion, a P/E ratio of 13.64 and a beta of 1.23.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. News had a net margin of 13.21% and a return on equity of 5.66%. News’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. As a group, analysts forecast that News Corporation will post 0.94 EPS for the current fiscal year.

News Dividend Announcement

The company also recently announced a half year 25 dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be paid a $0.10 dividend. This represents a dividend yield of 70.0%. The ex-dividend date is Wednesday, September 10th. News’s dividend payout ratio is currently 9.62%.

News Company 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.