Robeco Institutional Asset Management B.V. Acquires 1,735,668 Shares of News Corporation $NWSA

Robeco Institutional Asset Management B.V. raised its position in News Corporation (NASDAQ:NWSA) by 1,025.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,904,943 shares of the company’s stock after buying an additional 1,735,668 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in News were worth $56,615,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of News by 103.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,344 shares of the company’s stock valued at $635,000 after purchasing an additional 11,898 shares in the last quarter. Patton Fund Management Inc. purchased a new position in shares of News in the second quarter valued at $241,000. Charles Schwab Investment Management Inc. grew its position in shares of News by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,492,665 shares of the company’s stock valued at $122,290,000 after purchasing an additional 72,438 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of News by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 3,081,305 shares of the company’s stock valued at $83,873,000 after purchasing an additional 39,342 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of News by 11.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,621 shares of the company’s stock valued at $1,133,000 after purchasing an additional 4,332 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NWSA shares. Macquarie reiterated a “neutral” rating and issued a $32.70 price target on shares of News in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their target price on News from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, News has an average rating of “Buy” and an average price target of $38.62.

News Trading Down 1.4%

NASDAQ NWSA opened at $28.55 on Friday. News Corporation has a 1-year low of $23.38 and a 1-year high of $31.61. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $29.61 and a 200-day moving average of $28.41. The firm has a market cap of $16.13 billion, a PE ratio of 13.73 and a beta of 1.17.

News (NASDAQ:NWSA) last released its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. News had a return on equity of 5.66% and a net margin of 13.21%.The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the company posted $0.17 EPS. News’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts forecast that News Corporation will post 0.94 EPS for the current year.

News Dividend Announcement

The company also recently announced a half year 25 dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a dividend yield of 70.0%. News’s dividend payout ratio is currently 9.62%.

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.