News Corporation $NWS Shares Sold by Independent Franchise Partners LLP
Independent Franchise Partners LLP reduced its stake in News Corporation by 3.1% in Q2, owning 9,423,928 shares after selling 304,644 shares. News accounts for 2.2% of their holdings. Other investors like Norges Bank and Vanguard Group also adjusted their positions. News Corporation's stock opened at $28.97, with a market cap of $16.27 billion. Analysts forecast an EPS of 1.03 for the fiscal year, with a Buy rating from MarketBeat.
Independent Franchise Partners LLP cut its stake in shares of News Corporation (NASDAQ:NWS - Free Report) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,423,928 shares of the company's stock after selling 304,644 shares during the quarter. News accounts for approximately 2.2% of Independent Franchise Partners LLP's holdings, making the stock its 21st biggest position. Independent Franchise Partners LLP owned approximately 1.66% of News worth $323,335,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of NWS. Norges Bank purchased a new stake in shares of News in the second quarter valued at about $14,705,000. Vanguard Group Inc. boosted its holdings in News by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 6,879,273 shares of the company's stock valued at $208,924,000 after purchasing an additional 344,036 shares in the last quarter. Nuveen LLC acquired a new position in News during the 1st quarter worth approximately $8,393,000. Jane Street Group LLC purchased a new position in shares of News during the 1st quarter worth approximately $2,986,000. Finally, Strs Ohio acquired a new stake in shares of News in the 1st quarter valued at approximately $2,667,000. Hedge funds and other institutional investors own 14.63% of the company's stock.
News Trading Down 0.0%
Shares of NWS stock opened at $28.97 on Wednesday. The stock has a market cap of $16.27 billion, a P/E ratio of 14.00 and a beta of 0.94. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.21. News Corporation has a fifty-two week low of $26.25 and a fifty-two week high of $35.58. The business has a fifty day simple moving average of $30.29 and a 200-day simple moving average of $32.28.
News (NASDAQ:NWS - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. News had a return on equity of 5.68% and a net margin of 13.80%.The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.11 billion. On average, analysts forecast that News Corporation will post 1.03 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Zacks Research upgraded News from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of News in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy".
Get Our Latest Stock Analysis on NWS
News Company Profile
(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 through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.
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