Texas Permanent School Fund Corp Sells 4,741 Shares of News Co. (NASDAQ:NWS)

Texas Permanent School Fund Corp reduced its position in shares of News Co. (NASDAQ:NWS) by 20.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,960 shares of the company’s stock after selling 4,741 shares during the quarter. Texas Permanent School Fund Corp’s holdings in News were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Quest Partners LLC raised its stake in News by 273.5% in the second quarter. Quest Partners LLC now owns 57,143 shares of the company’s stock valued at $1,622,000 after buying an additional 41,845 shares during the period. Hanlon Investment Management Inc. boosted its stake in shares of News by 11.4% during the 2nd quarter. Hanlon Investment Management Inc. now owns 12,464 shares of the company’s stock worth $354,000 after acquiring an additional 1,279 shares during the period. Victory Capital Management Inc. boosted its stake in shares of News by 10.0% during the 2nd quarter. Victory Capital Management Inc. now owns 12,593 shares of the company’s stock worth $358,000 after acquiring an additional 1,149 shares during the period. National Bank of Canada FI boosted its stake in shares of News by 24.0% during the 2nd quarter. National Bank of Canada FI now owns 31,328 shares of the company’s stock worth $882,000 after acquiring an additional 6,054 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of News by 7.0% during the 2nd quarter. TD Asset Management Inc now owns 22,310 shares of the company’s stock worth $633,000 after acquiring an additional 1,463 shares during the period. Institutional investors and hedge funds own 14.63% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Loop Capital upgraded News to a “strong-buy” rating in a research note on Tuesday, September 10th.

News Stock Performance

Shares of NASDAQ NWS opened at $27.68 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. News Co. has a 12 month low of $20.01 and a 12 month high of $29.59. The stock has a 50 day moving average of $28.22 and a 200-day moving average of $27.36. The company has a market capitalization of $15.77 billion, a P/E ratio of 76.89 and a beta of 1.37.

News (NASDAQ:NWS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter. The business had revenue of $2.58 billion during the quarter. News had a return on equity of 4.51% and a net margin of 2.64%.

News Announces Dividend

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

News Company 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.