Bank of New York Mellon Corp Sells 152,662 Shares of News Corporation (NWSA)
Bank of New York Mellon Corp lowered its stake in shares of News Corporation (NASDAQ:NWSA) by 4.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,380,067 shares of the company’s stock after selling 152,662 shares during the period. Bank of New York Mellon Corp owned about 0.58% of News Corporation worth $46,307,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Independent Franchise Partners LLP purchased a new position in shares of News Corporation during the 2nd quarter valued at about $45,581,000. First Quadrant L P CA purchased a new position in shares of News Corporation during the 2nd quarter valued at about $2,262,000. CIBC Asset Management Inc raised its stake in shares of News Corporation by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 43,630 shares of the company’s stock valued at $598,000 after buying an additional 133 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of News Corporation by 1.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 247,235 shares of the company’s stock valued at $3,387,000 after buying an additional 3,800 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of News Corporation by 6.6% during the 1st quarter. Teachers Advisors LLC now owns 504,842 shares of the company’s stock valued at $6,563,000 after buying an additional 31,289 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.
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A number of equities analysts have weighed in on the company. Jefferies Group LLC reiterated a “buy” rating and set a $17.00 price objective on shares of News Corporation in a research note on Sunday, July 30th. Zacks Investment Research lowered News Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, Rosenblatt Securities assumed coverage on News Corporation in a research note on Friday, July 14th. They set a “buy” rating and a $17.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $15.20.
Shares of News Corporation (NWSA) opened at 13.45 on Tuesday. The firm’s market capitalization is $7.83 billion. News Corporation has a 52-week low of $10.99 and a 52-week high of $14.68. The stock’s 50 day moving average price is $13.74 and its 200-day moving average price is $13.20.
News Corporation (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.11 billion. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.83%. News Corporation’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. Equities research analysts anticipate that News Corporation will post $0.46 EPS for the current fiscal year.
The business also recently declared a semiannual dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.10 per share. This represents a yield of 1.49%. The ex-dividend date is Tuesday, September 12th. News Corporation’s dividend payout ratio is currently -15.63%.
About News Corporation
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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