News Co. (NASDAQ:NWSA) Position Boosted by Boyar Asset Management Inc.

Boyar Asset Management Inc. lifted its stake in News Co. (NASDAQ:NWSA) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,203 shares of the company’s stock after purchasing an additional 422 shares during the quarter. Boyar Asset Management Inc.’s holdings in News were worth $419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Larson Financial Group LLC lifted its position in News by 2,392.9% in the 4th quarter. Larson Financial Group LLC now owns 1,047 shares of the company’s stock worth $29,000 after buying an additional 1,005 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of News during the fourth quarter worth $31,000. Lee Danner & Bass Inc. acquired a new stake in News during the fourth quarter valued at $36,000. R Squared Ltd purchased a new position in News in the fourth quarter valued at about $49,000. Finally, Smartleaf Asset Management LLC increased its position in News by 49.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,989 shares of the company’s stock worth $55,000 after purchasing an additional 660 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Stock Up 0.7 %

News stock opened at $27.12 on Wednesday. The firm has a market cap of $15.39 billion, a price-to-earnings ratio of 37.15 and a beta of 1.24. The firm has a fifty day moving average price of $26.81 and a two-hundred day moving average price of $27.74. News Co. has a fifty-two week low of $22.65 and a fifty-two week high of $30.69. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.65.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. News had a return on equity of 5.31% and a net margin of 4.22%. As a group, analysts forecast that News Co. will post 0.94 earnings per share for the current year.

News Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Wednesday, March 12th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Wednesday, March 12th. News’s dividend payout ratio (DPR) is currently 27.40%.

Analyst Ratings Changes

Several equities research analysts recently commented on NWSA shares. Morgan Stanley lowered their price target on News from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. UBS Group raised shares of News from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 4th. Guggenheim lifted their price objective on shares of News from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. StockNews.com raised shares of News from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Citigroup assumed coverage on News in a research report on Friday, January 10th. They issued a “buy” rating and a $36.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, News presently has a consensus rating of “Buy” and a consensus price target of $38.80.

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.