City Holding Co. Buys 4,254 Shares of News Co. (NASDAQ:NWSA)

City Holding Co. raised its stake in shares of News Co. (NASDAQ:NWSA) by 29.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,646 shares of the company’s stock after buying an additional 4,254 shares during the period. City Holding Co.’s holdings in News were worth $507,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in News by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 50,952,317 shares of the company’s stock valued at $1,403,227,000 after buying an additional 632,721 shares in the last quarter. Independent Franchise Partners LLP increased its stake in shares of News by 11.8% in the fourth quarter. Independent Franchise Partners LLP now owns 26,617,259 shares of the company’s stock worth $733,039,000 after purchasing an additional 2,812,080 shares during the period. Dodge & Cox increased its stake in shares of News by 12.0% in the fourth quarter. Dodge & Cox now owns 11,662,685 shares of the company’s stock worth $321,190,000 after purchasing an additional 1,245,278 shares during the period. Geode Capital Management LLC increased its stake in shares of News by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 9,857,139 shares of the company’s stock worth $270,798,000 after purchasing an additional 234,893 shares during the period. Finally, 59 North Capital Management LP increased its stake in shares of News by 40.2% in the fourth quarter. 59 North Capital Management LP now owns 8,962,112 shares of the company’s stock worth $246,817,000 after purchasing an additional 2,569,343 shares during the period. 66.97% of the stock is currently owned by institutional investors.

News Stock Down 0.2%

NWSA stock opened at $27.76 on Tuesday. News Co. has a twelve month low of $23.38 and a twelve month high of $30.69. The company has a market cap of $15.72 billion, a PE ratio of 38.03 and a beta of 1.23. The business’s 50-day simple moving average is $27.09 and its 200 day simple moving average is $27.79. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22.

News (NASDAQ:NWSA) last released its earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). News had a return on equity of 5.31% and a net margin of 4.22%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2 billion. During the same period last year, the business earned $0.13 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts anticipate that News Co. will post 0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen lowered News from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Guggenheim reiterated a “buy” rating and issued a $45.00 price objective on shares of News in a research note on Thursday, May 15th. Finally, Morgan Stanley dropped their price objective on News from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $39.20.

News Profile

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.