Goldman Sachs Group Inc. Buys 1,133,004 Shares of News Corporation $NWSA

Goldman Sachs Group Inc. boosted its stake in News Corporation (NASDAQ:NWSA) by 34.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,450,150 shares of the company’s stock after purchasing an additional 1,133,004 shares during the period. Goldman Sachs Group Inc.’s holdings in News were worth $121,133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd lifted its stake in News by 120.4% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 27,638 shares of the company’s stock valued at $752,000 after purchasing an additional 15,100 shares during the last quarter. Teza Capital Management LLC lifted its stake in News by 207.6% in the 1st quarter. Teza Capital Management LLC now owns 28,239 shares of the company’s stock valued at $769,000 after purchasing an additional 19,059 shares during the last quarter. NewEdge Advisors LLC lifted its stake in News by 23.1% in the 1st quarter. NewEdge Advisors LLC now owns 112,381 shares of the company’s stock valued at $3,059,000 after purchasing an additional 21,068 shares during the last quarter. Millennium Management LLC grew its holdings in News by 75.0% during the 1st quarter. Millennium Management LLC now owns 1,165,444 shares of the company’s stock worth $31,723,000 after acquiring an additional 499,654 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in News by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,556 shares of the company’s stock valued at $1,022,000 after acquiring an additional 1,950 shares during the period. Institutional investors own 66.97% of the company’s stock.

News Stock Performance

Shares of News stock opened at $29.52 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $29.44 and a two-hundred day moving average price of $28.16. News Corporation has a 1-year low of $23.38 and a 1-year high of $30.75. The company has a market cap of $16.68 billion, a P/E ratio of 14.19 and a beta of 1.18.

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

News Dividend Announcement

The business also recently declared a half year 25 dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th will be issued a $0.10 dividend. This represents a yield of 70.0%. The ex-dividend date is Wednesday, September 10th. News’s dividend payout ratio (DPR) is presently 9.62%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Macquarie restated a “neutral” rating and issued a $32.70 price target on shares of News in a research report on Wednesday, August 6th. JPMorgan Chase & Co. upped their price target on News from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Wall Street Zen lowered News from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Guggenheim reiterated a “buy” rating and issued a $45.00 price target on shares of News in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $38.62.

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.