Franklin Resources Inc. Has $15,363,000 Stake in News Corporation (NWS)
Franklin Resources Inc. held its position in shares of News Corporation (NASDAQ:NWS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,085,700 shares of the company’s stock at the end of the 2nd quarter. Franklin Resources Inc. owned 0.19% of News Corporation worth $15,363,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. LS Investment Advisors LLC increased its stake in News Corporation by 15.3% in the 2nd quarter. LS Investment Advisors LLC now owns 7,601 shares of the company’s stock valued at $108,000 after buying an additional 1,010 shares during the period. Advisors Asset Management Inc. increased its stake in News Corporation by 1.3% in the 1st quarter. Advisors Asset Management Inc. now owns 10,785 shares of the company’s stock valued at $146,000 after buying an additional 138 shares during the period. CIBC Asset Management Inc increased its stake in News Corporation by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 10,360 shares of the company’s stock valued at $147,000 after buying an additional 35 shares during the period. QUANTRES ASSET MANAGEMENT Ltd increased its stake in News Corporation by 0.9% in the 1st quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 11,200 shares of the company’s stock valued at $151,000 after buying an additional 100 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in News Corporation in the 2nd quarter valued at $160,000. Hedge funds and other institutional investors own 9.38% of the company’s stock.
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Several equities analysts have issued reports on NWS shares. BidaskClub raised shares of News Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Citigroup Inc. raised shares of News Corporation from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold”.
News Corporation (NASDAQ NWS) opened at 13.40 on Friday. News Corporation has a 52 week low of $11.25 and a 52 week high of $15.22. The firm has a 50-day moving average of $13.85 and a 200 day moving average of $13.60. The firm’s market capitalization is $7.80 billion.
News Corporation (NASDAQ:NWS) last posted its earnings results on Thursday, August 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $2.08 billion for the quarter. News Corporation had a positive return on equity of 1.83% and a negative net margin of 9.07%. Analysts predict that News Corporation will post $1.39 earnings per share for the current year.
The business also recently announced a semiannual dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Wednesday, September 13th will be paid a $0.10 dividend. This represents a yield of 1.45%. The ex-dividend date is Tuesday, September 12th. News Corporation’s payout ratio is -15.63%.
News Corporation Profile
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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