News Co. (NASDAQ:NWSA) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its position in News Co. (NASDAQ:NWSA) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,866 shares of the company’s stock after selling 934 shares during the quarter. Hartford Investment Management Co.’s holdings in News were worth $609,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in News in the 2nd quarter valued at about $26,000. Acadian Asset Management LLC increased its holdings in shares of News by 95.1% in the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after purchasing an additional 506 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of News during the first quarter worth approximately $34,000. Innealta Capital LLC acquired a new stake in shares of News during the second quarter worth $46,000. Finally, Covestor Ltd increased its stake in News by 125.8% in the 1st quarter. Covestor Ltd now owns 1,727 shares of the company’s stock valued at $45,000 after buying an additional 962 shares during the period. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

News Price Performance

Shares of NASDAQ NWSA opened at $25.99 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43. News Co. has a one year low of $20.11 and a one year high of $28.62. The firm has a market capitalization of $14.78 billion, a P/E ratio of 56.50 and a beta of 1.34. The company’s fifty day moving average is $26.67 and its two-hundred day moving average is $26.53.

News (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. News had a net margin of 2.64% and a return on equity of 4.51%. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. Analysts forecast that News Co. will post 0.85 EPS for the current fiscal year.

News Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, October 9th. Investors of record on Wednesday, September 11th were paid a $0.10 dividend. This represents a yield of 0.7%. The ex-dividend date was Wednesday, September 11th. News’s payout ratio is currently 43.48%.

Analyst Upgrades and Downgrades

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

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.