JPMorgan Chase & Co. increased its stake in News Corp. (NASDAQ:NWSA) by 55.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 951,452 shares of the company’s stock after buying an additional 339,140 shares during the period. JPMorgan Chase & Co. owned about 0.16% of News Corp. worth $10,800,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its stake in shares of News Corp. by 0.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 568,673 shares of the company’s stock valued at $7,262,000 after buying an additional 3,014 shares during the last quarter. Credit Agricole S A boosted its stake in shares of News Corp. by 19.8% in the first quarter. Credit Agricole S A now owns 65,350 shares of the company’s stock valued at $835,000 after buying an additional 10,791 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of News Corp. by 2.0% in the first quarter. Geode Capital Management LLC now owns 3,405,598 shares of the company’s stock valued at $43,408,000 after buying an additional 66,974 shares in the last quarter. BlueMountain Capital Management LLC boosted its stake in shares of News Corp. by 15.9% in the first quarter. BlueMountain Capital Management LLC now owns 6,963,170 shares of the company’s stock valued at $88,920,000 after buying an additional 957,265 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of News Corp. by 10.9% in the first quarter. TIAA CREF Investment Management LLC now owns 487,346 shares of the company’s stock valued at $6,223,000 after buying an additional 47,902 shares in the last quarter. Institutional investors and hedge funds own 95.59% of the company’s stock.
Shares of News Corp. (NASDAQ:NWSA) traded down 1.074% during trading on Tuesday, reaching $14.275. 998,833 shares of the company traded hands. News Corp. has a 52 week low of $10.21 and a 52 week high of $15.68. The stock has a market capitalization of $8.28 billion, a PE ratio of 46.803 and a beta of 2.01. The firm has a 50 day moving average of $13.85 and a 200 day moving average of $12.64.
News Corp. (NASDAQ:NWSA) last released its quarterly earnings results on Monday, August 8th. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.06 billion. News Corp. had a net margin of 2.16% and a return on equity of 1.95%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 EPS. On average, equities analysts predict that News Corp. will post $0.46 EPS for the current year.
The company also recently declared a dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, September 14th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 12th. News Corp.’s dividend payout ratio is presently 66.67%.
Several analysts have recently issued reports on NWSA shares. Morgan Stanley restated a “hold” rating on shares of News Corp. in a research report on Thursday, August 18th. TheStreet upgraded shares of News Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 15th. Finally, Zacks Investment Research cut shares of News Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $17.13.
News Corp. 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.
Receive News & Ratings for News Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for News Corp. and related companies with MarketBeat.com's FREE daily email newsletter.