Zurcher Kantonalbank Zurich Cantonalbank Purchases 91,457 Shares of News Co. (NASDAQ:NWSA)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in News Co. (NASDAQ:NWSA) by 178.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,581 shares of the company’s stock after buying an additional 91,457 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in News were worth $3,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NWSA. Fidelis Capital Partners LLC purchased a new position in News in the 1st quarter worth approximately $34,000. 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 worth $45,000 after purchasing an additional 962 shares during the period. Principal Securities Inc. purchased a new position in News in the 4th quarter worth approximately $45,000. Family Firm Inc. purchased a new position in News in the 2nd quarter worth approximately $73,000. Finally, ORG Partners LLC purchased a new position in News in the 2nd quarter worth approximately $81,000. Institutional investors own 66.97% of the company’s stock.

News Price Performance

Shares of News stock opened at $28.33 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The company has a market cap of $16.14 billion, a PE ratio of 78.69 and a beta of 1.33. The business has a 50 day moving average of $27.52 and a 200 day moving average of $26.45. News Co. has a 52 week low of $19.25 and a 52 week high of $28.62.

News (NASDAQ:NWSA) last announced its earnings results on Thursday, August 8th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.49 billion. News had a return on equity of 4.28% and a net margin of 2.09%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 earnings per share. As a group, equities research analysts forecast that News Co. will post 0.67 earnings per share for the current 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 issued a $0.10 dividend. The ex-dividend date is Wednesday, September 11th. This represents a yield of 0.7%. News’s dividend payout ratio (DPR) is 55.56%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their price target on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th.

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.