New York State Teachers Retirement System Sells 3,532 Shares of News Co. (NASDAQ:NWSA)

New York State Teachers Retirement System trimmed its holdings in News Co. (NASDAQ:NWSA) by 0.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 499,654 shares of the company’s stock after selling 3,532 shares during the quarter. New York State Teachers Retirement System’s holdings in News were worth $13,306,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in News in the 2nd quarter worth approximately $26,000. Acadian Asset Management LLC boosted its position in shares of News by 95.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after acquiring an additional 506 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of News during the 1st quarter valued at approximately $34,000. Covestor Ltd boosted its position in shares of News by 125.8% during the 1st quarter. Covestor Ltd now owns 1,727 shares of the company’s stock valued at $45,000 after acquiring an additional 962 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of News during the 2nd quarter valued at approximately $46,000. 66.97% of the stock is currently owned by institutional investors.

News Stock Performance

NASDAQ:NWSA opened at $27.32 on Friday. The stock’s fifty day moving average is $26.60 and its 200 day moving average is $26.60. News Co. has a fifty-two week low of $20.35 and a fifty-two week high of $28.62. The firm has a market capitalization of $15.53 billion, a PE ratio of 59.39 and a beta of 1.34. 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 (NASDAQ:NWSA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. News had a return on equity of 4.51% and a net margin of 2.64%. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the firm posted $0.14 EPS. News’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that News Co. will post 0.85 earnings per share for the current year.

News Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.