Nomura Asset Management Co. Ltd. Increases Position in News Co. (NASDAQ:NWSA)

Nomura Asset Management Co. Ltd. grew its holdings in shares of News Co. (NASDAQ:NWSA) by 0.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 108,592 shares of the company’s stock after purchasing an additional 611 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in News were worth $2,991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in News in the 4th quarter worth about $172,357,000. NEOS Investment Management LLC lifted its stake in shares of News by 30.5% in the fourth quarter. NEOS Investment Management LLC now owns 21,257 shares of the company’s stock worth $585,000 after buying an additional 4,974 shares in the last quarter. Elo Mutual Pension Insurance Co grew its holdings in shares of News by 31.4% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 44,204 shares of the company’s stock valued at $1,217,000 after buying an additional 10,557 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of News during the fourth quarter valued at approximately $761,000. Finally, Mint Tower Capital Management B.V. purchased a new position in News in the 4th quarter worth approximately $640,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Trading Up 0.2 %

News stock opened at $27.06 on Thursday. The business has a 50-day simple moving average of $28.10 and a two-hundred day simple moving average of $27.81. News Co. has a 52-week low of $22.65 and a 52-week high of $30.69. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. The company has a market cap of $15.35 billion, a P/E ratio of 37.07 and a beta of 1.34.

News (NASDAQ:NWSA) last announced its earnings results on Wednesday, February 5th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates 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 EPS for the current year.

News Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.40 annualized dividend and a yield of 1.48%. News’s dividend payout ratio (DPR) is presently 27.40%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NWSA. Guggenheim lifted their target price on News from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. UBS Group upgraded News from a “neutral” rating to a “buy” rating in a report on Tuesday, February 4th. Loop Capital lowered their target price on shares of News from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Citigroup initiated coverage on shares of News in a research note on Friday, January 10th. They issued a “buy” rating and a $36.00 price target for the company. Finally, Seaport Res Ptn upgraded shares of News to a “strong-buy” rating in a research report on Friday, January 31st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.