DoubleLine ETF Adviser LP Cuts Stake in News Co. (NASDAQ:NWS)

DoubleLine ETF Adviser LP trimmed its holdings in News Co. (NASDAQ:NWS) by 13.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 17,007 shares of the company’s stock after selling 2,612 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in News were worth $518,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Independent Franchise Partners LLP boosted its stake in shares of News by 7.0% during the fourth quarter. Independent Franchise Partners LLP now owns 9,649,717 shares of the company’s stock valued at $293,641,000 after purchasing an additional 627,774 shares during the period. Vanguard Group Inc. boosted its position in News by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 6,535,237 shares of the company’s stock valued at $198,867,000 after buying an additional 138,680 shares during the period. Geode Capital Management LLC grew its holdings in News by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,855,707 shares of the company’s stock worth $86,799,000 after acquiring an additional 13,329 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of News by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,965,125 shares of the company’s stock valued at $59,799,000 after acquiring an additional 160,922 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of News by 1.2% during the fourth quarter. Northern Trust Corp now owns 939,188 shares of the company’s stock worth $28,579,000 after purchasing an additional 10,716 shares during the period. Hedge funds and other institutional investors own 14.63% of the company’s stock.

News Stock Performance

NASDAQ:NWS opened at $31.90 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $30.55 and its 200 day simple moving average is $31.02. The stock has a market cap of $18.10 billion, a P/E ratio of 43.70 and a beta of 1.28. News Co. has a twelve month low of $23.99 and a twelve month high of $35.25.

News (NASDAQ:NWS) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). News had a net margin of 4.22% and a return on equity of 5.31%. As a group, research analysts predict that News Co. will post 1.03 EPS for the current year.

News Announces Dividend

The company also recently declared a semi-annual dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 12th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, March 12th. This represents a dividend yield of 0.6%. News’s dividend payout ratio is presently 27.40%.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn upgraded News to a “strong-buy” rating in a report on Friday, January 31st.

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