News Co. (NASDAQ:NWS) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its holdings in News Co. (NASDAQ:NWS) by 2,892.8% in the fourth quarter, HoldingsChannel reports. The firm owned 2,065 shares of the company’s stock after purchasing an additional 1,996 shares during the period. Harvest Fund Management Co. Ltd’s holdings in News were worth $61,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Daiwa Securities Group Inc. raised its stake in shares of News by 4.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,986 shares of the company’s stock valued at $223,000 after purchasing an additional 348 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in News by 101.0% in the third quarter. JPMorgan Chase & Co. now owns 496,926 shares of the company’s stock valued at $13,889,000 after buying an additional 249,659 shares during the last quarter. Blue Trust Inc. raised its stake in News by 72.1% during the fourth quarter. Blue Trust Inc. now owns 3,478 shares of the company’s stock valued at $97,000 after buying an additional 1,457 shares in the last quarter. GAMMA Investing LLC lifted its holdings in News by 28.5% during the 4th quarter. GAMMA Investing LLC now owns 7,790 shares of the company’s stock worth $237,000 after buying an additional 1,729 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of News by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 137,034 shares of the company’s stock worth $3,830,000 after acquiring an additional 2,609 shares in the last quarter. Institutional investors and hedge funds own 14.63% of the company’s stock.

News Price Performance

Shares of NASDAQ:NWS opened at $30.77 on Monday. The company has a market cap of $17.46 billion, a PE ratio of 42.15 and a beta of 1.37. News Co. has a fifty-two week low of $23.99 and a fifty-two week high of $35.25. The firm has a 50-day simple moving average of $32.00 and a 200 day simple moving average of $30.53. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22.

News (NASDAQ:NWS) last posted its earnings results on Wednesday, February 5th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). News had a net margin of 4.22% and a return on equity of 5.31%. On average, sell-side analysts anticipate that News Co. will post 1.03 EPS for the current year.

News Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.10 per share. This represents a dividend yield of 0.6%. The ex-dividend date is Wednesday, March 12th. News’s dividend payout ratio (DPR) is 27.40%.

Analysts Set New Price Targets

Separately, Seaport Res Ptn upgraded News to a “strong-buy” rating in a research note on Friday, January 31st.

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.