St. James Investment Company LLC raised its position in News Corp (NASDAQ:NWSA) by 13,022.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,496,590 shares of the company’s stock after buying an additional 1,485,185 shares during the period. News Corp makes up 2.5% of St. James Investment Company LLC’s investment portfolio, making the stock its 14th largest position. St. James Investment Company LLC owned approximately 0.26% of News Corp worth $20,503,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. Nationwide Fund Advisors increased its position in News Corp by 24.5% in the first quarter. Nationwide Fund Advisors now owns 568,995 shares of the company’s stock valued at $7,397,000 after buying an additional 111,953 shares during the last quarter. Retirement Systems of Alabama increased its position in News Corp by 1.9% in the first quarter. Retirement Systems of Alabama now owns 184,506 shares of the company’s stock valued at $2,399,000 after buying an additional 3,479 shares during the last quarter. DnB Asset Management AS increased its position in News Corp by 26.7% in the first quarter. DnB Asset Management AS now owns 26,087 shares of the company’s stock valued at $339,000 after buying an additional 5,500 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in News Corp by 40.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 122,057 shares of the company’s stock valued at $1,573,000 after buying an additional 35,260 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of News Corp during the first quarter worth approximately $148,000. 93.53% of the stock is owned by institutional investors and hedge funds.
Shares of News Corp (NASDAQ:NWSA) traded up 0.30% on Friday, reaching $13.27. The company had a trading volume of 2,004,745 shares. News Corp has a 52-week low of $10.99 and a 52-week high of $14.68. The company has a 50 day moving average price of $13.77 and a 200 day moving average price of $13.14. The stock’s market capitalization is $7.72 billion.
News Corp (NASDAQ:NWSA) last released its earnings results on Thursday, August 10th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. News Corp had a negative net margin of 9.07% and a positive return on equity of 1.83%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. On average, equities research analysts anticipate that News Corp will post $0.46 earnings per share for the current year.
The firm also recently announced a semiannual dividend, which will be paid on Wednesday, October 18th. Investors of record on Wednesday, September 13th will be given a $0.10 dividend. This represents a yield of 1.49%. The ex-dividend date is Tuesday, September 12th. News Corp’s dividend payout ratio (DPR) is currently -15.63%.
A number of equities research analysts have commented on NWSA shares. Rosenblatt Securities started coverage on News Corp in a report on Friday, July 14th. They set a “buy” rating and a $17.00 target price on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $17.00 target price on shares of News Corp in a report on Sunday, July 30th. Finally, Zacks Investment Research cut News Corp from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $15.20.
News Corp Company Profile
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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