Shell Asset Management Co. Has $265,000 Position in News Corporation (NWSA)
Shell Asset Management Co. continued to hold its stake in News Corporation (NASDAQ:NWSA) during the second quarter, Holdings Channel reports. The firm owned 19,353 shares of the company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in News Corporation were worth $265,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Glen Harbor Capital Management LLC increased its stake in News Corporation by 11.9% in the first quarter. Glen Harbor Capital Management LLC now owns 46,206 shares of the company’s stock valued at $601,000 after buying an additional 4,930 shares during the period. ProShare Advisors LLC boosted its position in shares of News Corporation by 3.7% in the first quarter. ProShare Advisors LLC now owns 158,579 shares of the company’s stock valued at $2,062,000 after buying an additional 5,706 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of News Corporation by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,869 shares of the company’s stock valued at $120,000 after buying an additional 413 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of News Corporation by 24.5% in the first quarter. Nationwide Fund Advisors now owns 568,995 shares of the company’s stock valued at $7,397,000 after buying an additional 111,953 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of News Corporation by 1.9% in the first quarter. Retirement Systems of Alabama now owns 184,506 shares of the company’s stock valued at $2,399,000 after buying an additional 3,479 shares in the last quarter. Institutional investors and hedge funds own 93.53% of the company’s stock.
News Corporation (NWSA) opened at 13.25 on Thursday. The stock’s 50 day moving average price is $13.80 and its 200-day moving average price is $13.13. The firm’s market cap is $7.71 billion. News Corporation has a 12-month low of $10.99 and a 12-month high of $14.68.
News Corporation (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.11 billion. News Corporation had a positive return on equity of 1.83% and a negative net margin of 9.07%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. Equities research analysts anticipate that News Corporation will post $0.49 earnings per share for the current fiscal year.
The firm also recently disclosed a semiannual dividend, which will be paid on Wednesday, October 18th. Investors of record on Wednesday, September 13th will be paid a dividend of $0.10 per share. This represents a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, September 12th. News Corporation’s dividend payout ratio is -15.63%.
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Several equities analysts have weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $17.00 price objective on shares of News Corporation in a report on Sunday, July 30th. Zacks Investment Research cut News Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, Rosenblatt Securities assumed coverage on News Corporation in a report on Friday, July 14th. They issued a “buy” rating and a $17.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. News Corporation presently has a consensus rating of “Hold” and a consensus price target of $15.20.
News Corporation Company 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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