Bank of New York Mellon Corp Has $80.98 Million Position in News Corporation $NWSA

Bank of New York Mellon Corp cut its holdings in shares of News Corporation (NASDAQ:NWSA) by 11.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,724,843 shares of the company’s stock after selling 356,462 shares during the period. Bank of New York Mellon Corp owned approximately 0.48% of News worth $80,982,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NWSA. Vanguard Group Inc. raised its holdings in shares of News by 1.6% in the first 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 last quarter. Independent Franchise Partners LLP grew its position in News by 2.2% in the 1st quarter. Independent Franchise Partners LLP now owns 27,189,590 shares of the company’s stock worth $740,101,000 after purchasing an additional 572,331 shares in the last quarter. Dodge & Cox grew its position in News by 18.7% in the 1st quarter. Dodge & Cox now owns 13,846,298 shares of the company’s stock worth $376,896,000 after purchasing an additional 2,183,613 shares in the last quarter. 59 North Capital Management LP increased its stake in 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 buying an additional 2,185,542 shares during the last quarter. Finally, Metropolis Capital Ltd lifted its position in shares of News by 15.1% during 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 in the last quarter. Institutional investors own 66.97% of the company’s stock.

News Price Performance

NASDAQ NWSA opened at $26.72 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. The company has a market cap of $15.10 billion, a PE ratio of 12.91 and a beta of 1.15. News Corporation has a 52 week low of $23.38 and a 52 week high of $31.61. The firm’s 50-day simple moving average is $28.06 and its two-hundred day simple moving average is $28.49.

News (NASDAQ:NWSA) last posted its earnings results on Thursday, November 6th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.11 billion. News had a net margin of 13.80% and a return on equity of 5.71%. The company’s revenue was down 16.8% on a year-over-year basis. During the same quarter last year, the company earned $0.21 earnings per share. Research analysts predict that News Corporation will post 0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NWSA has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on News from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Macquarie reissued a “neutral” rating and issued a $32.70 price target on shares of News in a report on Wednesday, August 6th. Finally, Zacks Research lowered shares of News from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.62.

News 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.