Dimensional Fund Advisors LP increased its position in News Corporation (NASDAQ:NWSA) by 9.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,887,417 shares of the company’s stock after purchasing an additional 409,591 shares during the period. Dimensional Fund Advisors LP owned 0.84% of News Corporation worth $66,956,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Independent Franchise Partners LLP purchased a new stake in News Corporation in the second quarter worth $45,581,000. First Quadrant L P CA purchased a new stake in News Corporation in the second quarter worth $2,262,000. CIBC Asset Management Inc grew its stake in News Corporation by 0.3% in the second quarter. CIBC Asset Management Inc now owns 43,630 shares of the company’s stock worth $598,000 after purchasing an additional 133 shares during the period. Dodge & Cox grew its stake in News Corporation by 10.6% in the second quarter. Dodge & Cox now owns 10,882,034 shares of the company’s stock worth $149,084,000 after purchasing an additional 1,040,473 shares during the period. Finally, Quinn Opportunity Partners LLC grew its stake in News Corporation by 15.7% in the second quarter. Quinn Opportunity Partners LLC now owns 393,358 shares of the company’s stock worth $5,389,000 after purchasing an additional 53,455 shares during the period. 60.61% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on NWSA shares. Zacks Investment Research raised News Corporation from a “sell” rating to a “hold” rating and set a $15.00 price target on the stock in a research note on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $17.00 price target on shares of News Corporation in a research note on Sunday, July 30th. Finally, Rosenblatt Securities started coverage on News Corporation in a research note on Friday, July 14th. They issued a “buy” rating and a $17.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. News Corporation currently has a consensus rating of “Hold” and an average target price of $15.17.
News Corporation (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.02. News Corporation had a positive return on equity of 1.83% and a negative net margin of 9.07%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the business posted $0.10 EPS. The business’s revenue was down 6.6% compared to the same quarter last year.
The business also recently declared a semiannual dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Wednesday, September 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a dividend yield of 1.49%. News Corporation’s dividend payout ratio is presently -15.63%.
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News Corporation 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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