Sumitomo Mitsui Trust Group Inc. Sells 19,534 Shares of News Corporation $NWSA

Sumitomo Mitsui Trust Group Inc. lowered its holdings in News Corporation (NASDAQ:NWSA) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 758,973 shares of the company’s stock after selling 19,534 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.14% of News worth $21,745,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NWSA. Empirical Finance LLC increased its position in shares of News by 3.3% during the 2nd quarter. Empirical Finance LLC now owns 13,861 shares of the company’s stock valued at $344,000 after purchasing an additional 442 shares during the last quarter. Compound Planning Inc. grew its position in News by 5.0% during the first quarter. Compound Planning Inc. now owns 11,184 shares of the company’s stock valued at $279,000 after buying an additional 537 shares during the period. Tidal Investments LLC grew its position in News by 1.1% during the second quarter. Tidal Investments LLC now owns 72,008 shares of the company’s stock valued at $1,788,000 after buying an additional 757 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in News during the third quarter valued at about $25,000. Finally, V Square Quantitative Management LLC increased its holdings in News by 18.3% during the third quarter. V Square Quantitative Management LLC now owns 8,419 shares of the company’s stock worth $241,000 after buying an additional 1,302 shares during the last quarter. Institutional investors own 66.97% of the company’s stock.

Analysts Set New Price Targets

NWSA has been the topic of several research reports. Raymond James Financial began coverage on shares of News in a research report on Monday, October 19th. They issued an “outperform” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on News from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Wall Street Zen lowered News from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 24th. Morgan Stanley reissued an “overweight” rating and issued a $35.00 target price on shares of News in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded News from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, News currently has an average rating of “Moderate Buy” and a consensus price target of $37.80.

News Price Performance

Shares of NASDAQ:NWSA opened at $26.48 on Friday. The firm has a market capitalization of $14.33 billion, a PE ratio of 23.64 and a beta of 1.01. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $29.66 and a two-hundred day moving average price of $26.96. News Corporation has a twelve month low of $22.20 and a twelve month high of $31.66.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. News had a net margin of 6.76% and a return on equity of 7.40%. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts forecast that News Corporation will post 1.30 EPS for the current year.

About News

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.