Corient Private Wealth LLC Lowers Stake in News Co. (NASDAQ:NWSA)

Corient Private Wealth LLC trimmed its position in shares of News Co. (NASDAQ:NWSA) by 36.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,579 shares of the company’s stock after selling 30,042 shares during the period. Corient Private Wealth LLC’s holdings in News were worth $1,448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Natixis Advisors LLC boosted its holdings in News by 6.4% during the 3rd quarter. Natixis Advisors LLC now owns 32,588 shares of the company’s stock valued at $868,000 after acquiring an additional 1,965 shares during the period. Pathstone Holdings LLC boosted its stake in shares of News by 1.2% in the third quarter. Pathstone Holdings LLC now owns 60,509 shares of the company’s stock valued at $1,612,000 after purchasing an additional 730 shares during the period. Intech Investment Management LLC acquired a new position in shares of News in the third quarter valued at approximately $358,000. Charles Schwab Investment Management Inc. lifted its holdings in News by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,337,650 shares of the company’s stock worth $115,512,000 after buying an additional 53,550 shares in the last quarter. Finally, Citigroup Inc. boosted its position in News by 1.2% in the 3rd quarter. Citigroup Inc. now owns 571,280 shares of the company’s stock valued at $15,213,000 after buying an additional 6,786 shares during the period. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NWSA. Guggenheim increased their price objective on News from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Seaport Res Ptn upgraded shares of News to a “strong-buy” rating in a research note on Friday, January 31st. Loop Capital lowered their price target on shares of News from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, December 23rd. StockNews.com upgraded shares of News from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Finally, UBS Group raised News from a “neutral” rating to a “buy” rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $39.25.

News Stock Performance

Shares of NWSA stock opened at $27.46 on Wednesday. News Co. has a 1 year low of $22.65 and a 1 year high of $30.69. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 1.73. The firm has a market cap of $15.58 billion, a price-to-earnings ratio of 37.62 and a beta of 1.34. The stock’s 50-day moving average is $28.17 and its two-hundred day moving average is $27.78.

News (NASDAQ:NWSA) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. News had a return on equity of 5.31% and a net margin of 4.22%. Analysts predict that News Co. will post 0.94 earnings per share for the current year.

News Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.46%. The ex-dividend date is Wednesday, March 12th. News’s payout ratio is currently 27.40%.

About News

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.