Mackenzie Financial Corp Reduces Holdings in News Co. (NASDAQ:NWSA)

Mackenzie Financial Corp trimmed its position in shares of News Co. (NASDAQ:NWSA) by 23.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 294,760 shares of the company’s stock after selling 92,238 shares during the quarter. Mackenzie Financial Corp owned 0.05% of News worth $7,236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of NWSA. Wedmont Private Capital lifted its position in shares of News by 3.9% during the fourth quarter. Wedmont Private Capital now owns 12,873 shares of the company’s stock worth $317,000 after purchasing an additional 486 shares during the last quarter. Wahed Invest LLC lifted its position in shares of News by 9.5% during the third quarter. Wahed Invest LLC now owns 6,008 shares of the company’s stock worth $121,000 after purchasing an additional 523 shares during the last quarter. Toroso Investments LLC lifted its position in shares of News by 2.0% during the first quarter. Toroso Investments LLC now owns 28,151 shares of the company’s stock worth $486,000 after purchasing an additional 542 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of News by 4.0% during the second quarter. Captrust Financial Advisors now owns 14,183 shares of the company’s stock worth $277,000 after purchasing an additional 544 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in shares of News by 0.5% during the fourth quarter. DNB Asset Management AS now owns 131,605 shares of the company’s stock worth $3,231,000 after purchasing an additional 596 shares during the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NWSA has been the subject of several research analyst reports. TheStreet upgraded News from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Macquarie upgraded News from a “neutral” rating to an “outperform” rating in a report on Thursday, February 8th. Finally, StockNews.com upgraded News from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $29.50.

News Stock Performance

Shares of News stock opened at $24.02 on Friday. The company has a market capitalization of $13.72 billion, a PE ratio of 60.05 and a beta of 1.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.44. The company has a 50-day simple moving average of $25.79 and a two-hundred day simple moving average of $23.77. News Co. has a one year low of $16.35 and a one year high of $28.00.

News (NASDAQ:NWSA) last announced its earnings results on Wednesday, February 7th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.56 billion. News had a net margin of 2.29% and a return on equity of 4.14%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. Research analysts expect that News Co. will post 0.72 EPS for the current fiscal year.

News Dividend Announcement

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 13th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 12th. This represents a yield of 0.8%. News’s dividend payout ratio is presently 50.00%.

About News

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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.