Royal Bank of Canada Boosts Stake in News Corporation by 54.5%

Royal Bank of Canada has increased its stake in News Corporation by 54.5% in the first quarter, purchasing an additional 200,262 shares. This brings their total ownership to 567,584 shares, worth $14,149,000.

The increase is part of a trend where several hedge funds have been adding to or increasing their stakes in News Corporation. In the fourth quarter, Banco Bilbao Vizcaya Argentaria S.A. boosted its stake by 4.5%, while Farther Finance Advisors LLC lifted its holdings by 23.2%.

Analysts have set an average price target of $38.50 for News Corporation's stock, with several brokerages giving it a 'buy' or 'strong-buy' rating.