Fox Co. (NASDAQ:FOXA) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS lifted its position in shares of Fox Co. (NASDAQ:FOXAGet Rating) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,538 shares of the company’s stock after buying an additional 2,800 shares during the quarter. DnB Asset Management AS’s holdings in FOX were worth $3,073,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FOXA. Allianz Asset Management GmbH purchased a new stake in FOX during the 4th quarter worth about $1,231,000. Charles Schwab Investment Management Inc. increased its position in FOX by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,768,274 shares of the company’s stock worth $65,250,000 after purchasing an additional 35,050 shares in the last quarter. Renaissance Technologies LLC increased its position in FOX by 31.1% during the 4th quarter. Renaissance Technologies LLC now owns 725,592 shares of the company’s stock worth $26,774,000 after purchasing an additional 171,994 shares in the last quarter. Geode Capital Management LLC increased its position in FOX by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 6,640,745 shares of the company’s stock worth $244,686,000 after purchasing an additional 130,761 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in FOX during the 4th quarter worth about $6,245,000. Institutional investors and hedge funds own 56.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on FOXA shares. Moffett Nathanson dropped their price objective on FOX to $46.00 in a research report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on FOX from $48.00 to $46.00 in a report on Wednesday, May 25th. Credit Suisse Group lowered their price target on FOX to $46.00 in a report on Monday, August 15th. Morgan Stanley cut FOX from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $45.00 to $38.00 in a report on Monday, July 18th. Finally, Wolfe Research cut FOX from an “outperform” rating to a “peer perform” rating and lowered their price target for the company from $52.00 to $39.00 in a report on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.90.

FOX Stock Performance

NASDAQ FOXA opened at $34.24 on Wednesday. The firm has a market capitalization of $18.80 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.61 and a beta of 0.87. Fox Co. has a 1-year low of $31.33 and a 1-year high of $44.95. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.61 and a quick ratio of 3.26. The business’s 50-day simple moving average is $34.31 and its 200-day simple moving average is $35.54.

FOX (NASDAQ:FOXAGet Rating) last released 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). The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.05 billion. FOX had a net margin of 8.62% and a return on equity of 14.05%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. Equities analysts predict that Fox Co. will post 3.68 EPS for the current year.

FOX Increases Dividend

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

FOX Company 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.

See Also

Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

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