Public Employees Retirement System of Ohio Acquires Shares of 114,599 News Corporation $NWSA

Public Employees Retirement System of Ohio bought a new position in News Corporation (NASDAQ:NWSA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 114,599 shares of the company’s stock, valued at approximately $2,845,000.

A number of other institutional investors have also modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new position in News in the third quarter worth about $31,000. CYBER HORNET ETFs LLC bought a new position in News during the 2nd quarter worth approximately $30,000. Advisory Services Network LLC acquired a new position in shares of News in the 3rd quarter worth approximately $35,000. Brown Brothers Harriman & Co. raised its position in shares of News by 154.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after acquiring an additional 780 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in News by 561.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock worth $45,000 after purchasing an additional 1,470 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NWSA shares. Citigroup reduced their price target on shares of News from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Morgan Stanley reissued an “overweight” rating and issued a $35.00 price target on shares of News in a report on Thursday, August 6th. Weiss Ratings raised News from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Finally, Zacks Research lowered shares of News from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, News currently has an average rating of “Moderate Buy” and an average target price of $38.50.

News Trading Down 1.8%

Shares of NWSA stock opened at $30.39 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62. News Corporation has a 1 year low of $22.20 and a 1 year high of $31.66. The stock has a fifty day moving average of $28.49 and a two-hundred day moving average of $26.37. The firm has a market capitalization of $16.44 billion, a PE ratio of 29.50 and a beta of 0.91.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.14. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.25 billion. News had a return on equity of 7.09% and a net margin of 6.35%.The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $0.19 earnings per share. As a group, research analysts expect that News Corporation will post 1.31 EPS for the current year.

News Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, September 9th. This represents a dividend yield of 68.0%. News’s dividend payout ratio (DPR) is 19.42%.

News Company Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.