Yacktman Asset Management LP Sells 14,490 Shares of News Co. (NASDAQ:NWS)

Yacktman Asset Management LP reduced its holdings in shares of News Co. (NASDAQ:NWS) by 2.8% in the third quarter, Holdings Channel.com reports. The fund owned 500,830 shares of the company’s stock after selling 14,490 shares during the quarter. Yacktman Asset Management LP’s holdings in News were worth $13,998,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Metropolis Capital Ltd grew its stake in News by 10.5% in the 3rd quarter. Metropolis Capital Ltd now owns 930,950 shares of the company’s stock worth $26,020,000 after acquiring an additional 88,715 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in News in the second quarter worth approximately $22,415,000. BNP Paribas Financial Markets raised its position in News by 11.5% during the 1st quarter. BNP Paribas Financial Markets now owns 215,847 shares of the company’s stock valued at $5,841,000 after purchasing an additional 22,287 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of News by 7.4% in the 2nd quarter. Hsbc Holdings PLC now owns 215,462 shares of the company’s stock worth $6,131,000 after buying an additional 14,791 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of News by 24.9% during the 2nd quarter. Renaissance Technologies LLC now owns 186,630 shares of the company’s stock worth $5,298,000 after buying an additional 37,220 shares in the last quarter. Hedge funds and other institutional investors own 14.63% of the company’s stock.

News Price Performance

NASDAQ NWS opened at $29.29 on Tuesday. The company has a market cap of $16.65 billion, a PE ratio of 63.67 and a beta of 1.36. The firm’s 50 day moving average price is $27.98 and its 200-day moving average price is $27.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43. News Co. has a 52-week low of $21.19 and a 52-week high of $29.61.

News (NASDAQ:NWS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter. The business had revenue of $2.58 billion for the quarter. News had a return on equity of 4.51% and a net margin of 2.64%.

News Dividend Announcement

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 11th were given a dividend of $0.10 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Wednesday, September 11th. News’s payout ratio is 43.48%.

Analyst Ratings Changes

Separately, Loop Capital upgraded News to a “strong-buy” rating in a report on Tuesday, September 10th.

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.