TD Asset Management Inc Reduces Stock Holdings in News Corporation $NWSA

TD Asset Management Inc reduced its holdings in News Corporation (NASDAQ:NWSA) by 3.6% during the 2nd quarter, Holdings Channel reports. The fund owned 403,441 shares of the company’s stock after selling 15,116 shares during the period. TD Asset Management Inc’s holdings in News were worth $11,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of News by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 51,764,497 shares of the company’s stock valued at $1,409,030,000 after purchasing an additional 812,180 shares during the period. Independent Franchise Partners LLP lifted its stake in shares of News by 2.2% in the 1st quarter. Independent Franchise Partners LLP now owns 27,189,590 shares of the company’s stock valued at $740,101,000 after purchasing an additional 572,331 shares during the period. Dodge & Cox lifted its stake in shares of News by 18.7% in the 1st quarter. Dodge & Cox now owns 13,846,298 shares of the company’s stock valued at $376,896,000 after purchasing an additional 2,183,613 shares during the period. 59 North Capital Management LP lifted its stake in shares of News by 24.4% in the 1st quarter. 59 North Capital Management LP now owns 11,147,654 shares of the company’s stock valued at $303,439,000 after purchasing an additional 2,185,542 shares during the period. Finally, Metropolis Capital Ltd lifted its stake in shares of News by 15.1% in the 2nd quarter. Metropolis Capital Ltd now owns 5,694,353 shares of the company’s stock valued at $169,236,000 after purchasing an additional 747,744 shares during the period. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

News Stock Performance

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

News (NASDAQ:NWSA) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the business posted $0.17 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts forecast that News Corporation will post 0.94 earnings per share for the current fiscal year.

News Announces Dividend

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

News Company 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.