Texas Permanent School Fund Corp Reduces Holdings in News Co. (NASDAQ:NWSA)

Texas Permanent School Fund Corp trimmed its position in News Co. (NASDAQ:NWSA) by 20.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 62,819 shares of the company’s stock after selling 15,735 shares during the quarter. Texas Permanent School Fund Corp’s holdings in News were worth $1,732,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of News in the second quarter worth about $26,000. Acadian Asset Management LLC grew its holdings in shares of News by 95.1% during the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after buying an additional 506 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in News in the 1st quarter valued at about $34,000. Principal Securities Inc. purchased a new position in News during the fourth quarter worth approximately $45,000. Finally, Covestor Ltd increased its position in News by 125.8% during the first quarter. Covestor Ltd now owns 1,727 shares of the company’s stock worth $45,000 after purchasing an additional 962 shares during the last quarter. 66.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on NWSA shares. JPMorgan Chase & Co. raised their price objective on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Loop Capital upped their price objective on News from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $38.00.

News Stock Up 0.4 %

NWSA opened at $26.45 on Thursday. News Co. has a 52 week low of $19.25 and a 52 week high of $28.62. The firm has a market cap of $15.07 billion, a P/E ratio of 73.47 and a beta of 1.34. The business’s fifty day simple moving average is $27.26 and its 200 day simple moving average is $26.47. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt-to-equity ratio of 0.32.

News (NASDAQ:NWSA) last issued its earnings results on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.49 billion. News had a return on equity of 4.51% and a net margin of 2.64%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. As a group, equities research analysts anticipate that News Co. will post 0.87 EPS for the current fiscal year.

News Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 11th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a yield of 0.7%. News’s payout ratio is currently 55.56%.

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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.