Board of the Pension Protection Fund Makes New $1.56 Million Investment in News Corporation $NWS

Board of the Pension Protection Fund purchased a new position in shares of News Corporation (NASDAQ:NWS) during the second quarter, HoldingsChannel.com reports. The fund purchased 45,400 shares of the company’s stock, valued at approximately $1,558,000. News accounts for 1.7% of Board of the Pension Protection Fund’s portfolio, making the stock its 15th biggest position.

A number of other hedge funds also recently modified their holdings of NWS. SVB Wealth LLC acquired a new stake in shares of News during the first quarter worth about $27,000. First Horizon Advisors Inc. raised its position in shares of News by 3,546.2% during the first quarter. First Horizon Advisors Inc. now owns 948 shares of the company’s stock worth $29,000 after purchasing an additional 922 shares during the period. Resona Asset Management Co. Ltd. raised its position in shares of News by 75.3% during the first quarter. Resona Asset Management Co. Ltd. now owns 964 shares of the company’s stock worth $29,000 after purchasing an additional 414 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of News by 150.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,925 shares of the company’s stock worth $58,000 after purchasing an additional 1,156 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of News by 20.3% during the first quarter. Asset Management One Co. Ltd. now owns 3,210 shares of the company’s stock worth $97,000 after purchasing an additional 542 shares during the period. Institutional investors and hedge funds own 14.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NWS shares. Zacks Research raised News from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of News in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

News Stock Down 1.4%

NASDAQ:NWS opened at $29.28 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84. The company has a market cap of $16.54 billion, a PE ratio of 14.08 and a beta of 1.17. News Corporation has a 52-week low of $26.25 and a 52-week high of $35.58. The stock has a 50-day simple moving average of $33.24 and a 200 day simple moving average of $32.54.

News (NASDAQ:NWS) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%. On average, sell-side analysts expect that News Corporation will post 1.03 EPS for the current fiscal year.

News Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a dividend yield of 63.0%. News’s payout ratio is 9.62%.

About News

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.