New York State Teachers Retirement System Decreases Position in News Corporation $NWSA

New York State Teachers Retirement System decreased its stake in News Corporation (NASDAQ:NWSA) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 409,603 shares of the company’s stock after selling 4,081 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of News worth $12,173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its stake in News by 12,084.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company’s stock worth $43,000 after buying an additional 1,571 shares during the period. SVB Wealth LLC purchased a new position in shares of News during the 1st quarter worth about $73,000. Horizon Investments LLC grew its holdings in News by 7.7% during the 1st quarter. Horizon Investments LLC now owns 5,575 shares of the company’s stock valued at $152,000 after purchasing an additional 398 shares during the last quarter. Mather Group LLC. raised its position in News by 10.4% in the 1st quarter. Mather Group LLC. now owns 6,465 shares of the company’s stock worth $176,000 after purchasing an additional 610 shares during the period. Finally, V Square Quantitative Management LLC boosted its position in shares of News by 17.2% during the second quarter. V Square Quantitative Management LLC now owns 6,207 shares of the company’s stock valued at $184,000 after buying an additional 912 shares during the period. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NWSA. Weiss Ratings reiterated a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. Macquarie reiterated a “neutral” rating and issued a $32.70 target price on shares of News in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of News from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, News has a consensus rating of “Buy” and an average price target of $38.62.

News Trading Up 0.4%

Shares of NASDAQ NWSA opened at $26.02 on Friday. News Corporation has a twelve month low of $23.38 and a twelve month high of $31.61. The firm has a market cap of $14.70 billion, a PE ratio of 12.51 and a beta of 1.17. The business has a fifty day simple moving average of $29.07 and a two-hundred day simple moving average of $28.39. The company has a quick ratio of 1.72, a current ratio of 1.84 and a debt-to-equity ratio of 0.21.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%.The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 earnings per share. Analysts expect that News Corporation will post 0.94 earnings per share 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. Stockholders of record on Wednesday, September 10th were given a $0.10 dividend. This represents a dividend yield of 70.0%. The ex-dividend date of this dividend was Wednesday, September 10th. News’s dividend payout ratio is presently 9.62%.

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.