Creative Planning Buys 1,604 Shares of News Co. (NASDAQ:NWSA)

Creative Planning boosted its stake in News Co. (NASDAQ:NWSA) by 3.5% in the third quarter, HoldingsChannel reports. The firm owned 47,694 shares of the company’s stock after acquiring an additional 1,604 shares during the period. Creative Planning’s holdings in News were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of News during the 2nd quarter valued at $26,000. Acadian Asset Management LLC grew 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 period. Fidelis Capital Partners LLC bought a new stake in shares of News during the 1st quarter valued at $34,000. Innealta Capital LLC bought a new stake in shares of News during the 2nd quarter valued at $46,000. Finally, Covestor Ltd grew 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 period. Institutional investors own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NWSA. Loop Capital boosted their price objective on shares of 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. upped their target price on shares of News from $34.00 to $37.00 and gave the stock an “overweight” rating in a 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 price target of $38.00.

News Trading Down 0.2 %

Shares of News stock opened at $27.28 on Thursday. The company has a market capitalization of $15.51 billion, a P/E ratio of 59.30 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. The company has a fifty day moving average of $26.64 and a 200 day moving average of $26.57. News Co. has a fifty-two week low of $20.35 and a fifty-two week high of $28.62.

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

News Announces Dividend

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

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.