Franklin Resources Inc. Purchases 1,321 Shares of News Co. (NASDAQ:NWSA)

Franklin Resources Inc. increased its holdings in News Co. (NASDAQ:NWSAFree Report) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,166 shares of the company’s stock after buying an additional 1,321 shares during the quarter. Franklin Resources Inc.’s holdings in News were worth $1,011,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NWSA. Victory Capital Management Inc. increased its holdings in News by 63.0% in the 3rd quarter. Victory Capital Management Inc. now owns 151,048 shares of the company’s stock worth $3,030,000 after buying an additional 58,364 shares during the period. Amalgamated Bank boosted its position in News by 14.0% in the 3rd quarter. Amalgamated Bank now owns 135,546 shares of the company’s stock worth $2,719,000 after purchasing an additional 16,608 shares in the last quarter. Banque Cantonale Vaudoise boosted its position in News by 70.4% in the 3rd quarter. Banque Cantonale Vaudoise now owns 5,869 shares of the company’s stock worth $118,000 after purchasing an additional 2,425 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in News by 31.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,140,972 shares of the company’s stock worth $83,068,000 after purchasing an additional 984,209 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in News by 13.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 51,306 shares of the company’s stock worth $1,029,000 after purchasing an additional 6,190 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Trading Down 0.6 %

Shares of NASDAQ:NWSA opened at $27.71 on Friday. News Co. has a 1 year low of $18.59 and a 1 year high of $28.00. The firm has a market capitalization of $15.79 billion, a price-to-earnings ratio of 76.97 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 1.25. The business’s 50 day moving average price is $25.38 and its 200-day moving average price is $24.82.

News (NASDAQ:NWSAGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. News had a return on equity of 4.28% and a net margin of 2.09%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the firm posted $0.09 EPS. The business’s revenue was down 1.0% on a year-over-year basis. On average, equities research analysts forecast that News Co. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Macquarie upgraded News from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 8th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $29.50.

Get Our Latest Research Report on NWSA

About News

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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