Jackson Thornton Wealth Management LLC Acquires Shares of 7,098 News Corporation $NWSA

Jackson Thornton Wealth Management LLC acquired a new stake in News Corporation (NASDAQ:NWSA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 7,098 shares of the company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in News by 103.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,344 shares of the company’s stock valued at $635,000 after buying an additional 11,898 shares during the last quarter. Patton Fund Management Inc. purchased a new stake in News in the second quarter valued at approximately $241,000. Charles Schwab Investment Management Inc. lifted its stake in News by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,492,665 shares of the company’s stock valued at $122,290,000 after buying an additional 72,438 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in News by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 3,081,305 shares of the company’s stock valued at $83,873,000 after buying an additional 39,342 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in News by 11.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,621 shares of the company’s stock valued at $1,133,000 after buying an additional 4,332 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Stock Down 0.2%

News stock opened at $26.38 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. News Corporation has a 1-year low of $23.38 and a 1-year high of $31.61. The company has a market cap of $14.90 billion, a PE ratio of 12.68 and a beta of 1.17. The stock’s 50 day moving average price is $28.98 and its 200 day moving average price is $28.41.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. News had a return on equity of 5.66% and a net margin of 13.21%.The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the business earned $0.17 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts predict that News Corporation will post 0.94 EPS for the current fiscal year.

News Dividend Announcement

The firm also recently declared a half year 25 dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th were paid a $0.10 dividend. The ex-dividend date was Wednesday, September 10th. This represents a dividend yield of 70.0%. News’s payout ratio is 9.62%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NWSA shares. JPMorgan Chase & Co. boosted their target price on News from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Weiss Ratings reissued a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. Finally, Macquarie reissued a “neutral” rating and issued a $32.70 target price on shares of News in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $38.62.

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.