Kentucky Retirement Systems Sells 2,219 Shares of News Co. (NASDAQ:NWSA)

Kentucky Retirement Systems cut its stake in News Co. (NASDAQ:NWSA) by 7.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,356 shares of the company’s stock after selling 2,219 shares during the quarter. Kentucky Retirement Systems’ holdings in News were worth $702,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Seelaus Asset Management LLC lifted its position in News by 3.8% in the third quarter. Seelaus Asset Management LLC now owns 11,399 shares of the company’s stock worth $304,000 after buying an additional 417 shares during the last quarter. CIBC Asset Management Inc lifted its position in News by 8.0% in the third quarter. CIBC Asset Management Inc now owns 55,186 shares of the company’s stock worth $1,470,000 after buying an additional 4,077 shares during the last quarter. ING Groep NV lifted its position in shares of News by 815.5% during the third quarter. ING Groep NV now owns 429,598 shares of the company’s stock worth $11,440,000 after purchasing an additional 382,671 shares during the last quarter. KBC Group NV lifted its position in shares of News by 2.2% during the third quarter. KBC Group NV now owns 385,015 shares of the company’s stock worth $10,253,000 after purchasing an additional 8,247 shares during the last quarter. Finally, Parametrica Management Ltd bought a new stake in shares of News during the third quarter worth $389,000. 66.97% of the stock is currently owned by institutional investors.

News Stock Performance

NWSA stock opened at $28.80 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.38 and a quick ratio of 1.26. The business has a 50-day moving average price of $26.93 and a 200 day moving average price of $27.02. The company has a market capitalization of $16.38 billion, a P/E ratio of 46.45 and a beta of 1.34. News Co. has a 1-year low of $20.95 and a 1-year high of $30.03.

Analysts Set New Price Targets

Several research firms have recently weighed in on NWSA. Guggenheim lifted their target price on News from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Loop Capital lifted their target price on News from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their target price on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, StockNews.com downgraded News from a “buy” rating to a “hold” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.67.

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.