Chicago Partners Investment Group LLC Buys 4,272 Shares of News Corporation $NWSA

Chicago Partners Investment Group LLC increased its stake in shares of News Corporation (NASDAQ:NWSA) by 48.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,093 shares of the company’s stock after acquiring an additional 4,272 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in News were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

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

News Trading Up 0.6%

NASDAQ NWSA opened at $26.40 on Friday. 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 Corporation has a twelve month low of $23.38 and a twelve month high of $31.61. The firm has a market capitalization of $14.92 billion, a PE ratio of 12.69 and a beta of 1.17. The stock’s 50 day moving average is $28.84 and its 200 day moving average is $28.41.

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

News Dividend Announcement

The business also recently disclosed a half year 25 dividend, which was paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 10th. This represents a yield of 70.0%. News’s 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.