Fox Co. (NASDAQ:FOXA) Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC cut its holdings in shares of Fox Co. (NASDAQ:FOXAGet Rating) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,347 shares of the company’s stock after selling 390 shares during the period. Kestra Private Wealth Services LLC’s holdings in FOX were worth $487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FOXA. CENTRAL TRUST Co increased its stake in shares of FOX by 4.0% during the 1st quarter. CENTRAL TRUST Co now owns 7,674 shares of the company’s stock worth $303,000 after purchasing an additional 294 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of FOX by 32.7% during the 1st quarter. Parallel Advisors LLC now owns 1,794 shares of the company’s stock worth $72,000 after acquiring an additional 442 shares during the period. JJJ Advisors Inc. lifted its holdings in shares of FOX by 20.5% during the 1st quarter. JJJ Advisors Inc. now owns 2,829 shares of the company’s stock worth $111,000 after acquiring an additional 482 shares during the period. Wealthsource Partners LLC lifted its holdings in FOX by 2.7% during the 4th quarter. Wealthsource Partners LLC now owns 20,005 shares of the company’s stock valued at $738,000 after purchasing an additional 517 shares during the last quarter. Finally, MUFG Americas Holdings Corp lifted its holdings in FOX by 5.7% during the 1st quarter. MUFG Americas Holdings Corp now owns 11,786 shares of the company’s stock valued at $465,000 after purchasing an additional 634 shares during the last quarter. 56.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FOXA shares. Wolfe Research cut shares of FOX from an “outperform” rating to a “peer perform” rating and lowered their price objective for the company from $52.00 to $39.00 in a research report on Thursday, June 2nd. Evercore ISI cut their price objective on shares of FOX from $44.00 to $38.00 in a research report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of FOX from $48.00 to $46.00 in a research report on Wednesday, May 25th. Credit Suisse Group lowered their target price on shares of FOX to $46.00 in a report on Monday, August 15th. Finally, Morgan Stanley downgraded shares of FOX from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $45.00 to $38.00 in a report on Monday, July 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.90.

FOX Stock Performance

Shares of FOXA opened at $34.36 on Tuesday. The company has a market cap of $18.87 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.61 and a beta of 0.87. The company has a current ratio of 3.61, a quick ratio of 3.26 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $34.29 and a 200-day moving average price of $35.60. Fox Co. has a 12-month low of $31.33 and a 12-month high of $44.95.

FOX (NASDAQ:FOXAGet Rating) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.04). FOX had a net margin of 8.62% and a return on equity of 14.05%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities analysts forecast that Fox Co. will post 3.68 earnings per share for the current fiscal year.

FOX Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 28th. Investors of record on Wednesday, August 31st will be paid a $0.25 dividend. This represents a yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.24. The ex-dividend date of this dividend is Tuesday, August 30th. FOX’s dividend payout ratio is presently 23.70%.

FOX Profile

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Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional and virtual multi-channel video programming distributors (MVPDs) and other digital platforms, primarily in the U.S.

Further Reading

Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

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