Mitsubishi UFJ Asset Management Co. Ltd. Purchases 85,805 Shares of News Corporation $NWSA

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of News Corporation (NASDAQ:NWSA) by 13.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 722,770 shares of the company’s stock after purchasing an additional 85,805 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of News worth $21,481,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of News by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 51,764,497 shares of the company’s stock worth $1,409,030,000 after buying an additional 812,180 shares in the last quarter. Independent Franchise Partners LLP increased its position in shares of News by 2.2% during the first quarter. Independent Franchise Partners LLP now owns 27,189,590 shares of the company’s stock valued at $740,101,000 after acquiring an additional 572,331 shares during the last quarter. Dodge & Cox lifted its holdings in News by 18.7% during the first quarter. Dodge & Cox now owns 13,846,298 shares of the company’s stock worth $376,896,000 after acquiring an additional 2,183,613 shares during the period. 59 North Capital Management LP boosted its position in News by 24.4% in the first quarter. 59 North Capital Management LP now owns 11,147,654 shares of the company’s stock worth $303,439,000 after purchasing an additional 2,185,542 shares during the last quarter. Finally, Metropolis Capital Ltd increased 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 valued at $169,236,000 after purchasing an additional 747,744 shares during the last quarter. 66.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on NWSA shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of News from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Zacks Research downgraded shares of News from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. Finally, Macquarie reissued a “neutral” rating and set a $32.70 target price on shares of News in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.62.

News Stock Performance

News stock opened at $26.83 on Wednesday. The firm’s 50 day simple moving average is $27.97 and its 200 day simple moving average is $28.50. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.21. News Corporation has a 1-year low of $23.38 and a 1-year high of $31.61. The firm has a market capitalization of $15.16 billion, a PE ratio of 12.96 and a beta of 1.15.

News (NASDAQ:NWSA) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $2.11 billion. News had a net margin of 13.80% and a return on equity of 5.68%. The business’s quarterly revenue was down 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. As a group, analysts expect that News Corporation will post 0.94 earnings per share for the current fiscal year.

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.