Fox Co. (NASDAQ:FOXA) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its stake in shares of Fox Co. (NASDAQ:FOXA) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 138,104 shares of the company’s stock after selling 4,492 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in FOX were worth $4,098,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FOXA. State Street Corp boosted its holdings in FOX by 0.7% in the first quarter. State Street Corp now owns 13,742,042 shares of the company’s stock valued at $467,914,000 after purchasing an additional 102,146 shares in the last quarter. Northern Trust Corp boosted its holdings in FOX by 67.8% in the third quarter. Northern Trust Corp now owns 5,640,787 shares of the company’s stock valued at $175,993,000 after purchasing an additional 2,279,923 shares in the last quarter. Invesco Ltd. boosted its holdings in FOX by 16.0% in the first quarter. Invesco Ltd. now owns 4,617,824 shares of the company’s stock valued at $182,174,000 after purchasing an additional 637,439 shares in the last quarter. Bank of America Corp DE boosted its holdings in FOX by 15.1% in the first quarter. Bank of America Corp DE now owns 4,245,723 shares of the company’s stock valued at $144,567,000 after purchasing an additional 555,423 shares in the last quarter. Finally, Norges Bank acquired a new position in FOX in the fourth quarter valued at approximately $82,385,000. 52.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FOXA has been the subject of a number of research analyst reports. Citigroup raised FOX from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $35.00 in a report on Friday, February 23rd. Seaport Res Ptn raised FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. TheStreet downgraded FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Wolfe Research raised FOX from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Finally, Macquarie increased their price objective on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, FOX has an average rating of “Hold” and a consensus target price of $33.40.

FOX Price Performance

FOX stock opened at $31.35 on Wednesday. Fox Co. has a 12 month low of $28.28 and a 12 month high of $35.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 2.01. The business has a 50 day simple moving average of $30.25 and a 200-day simple moving average of $30.39. The stock has a market capitalization of $14.89 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 0.41 and a beta of 0.78.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.24. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. FOX’s revenue was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 earnings per share. Equities analysts predict that Fox Co. will post 3.28 earnings per share for the current year.

FOX Announces Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th were given a $0.26 dividend. This represents a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, March 5th. FOX’s payout ratio is 30.77%.

About FOX

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 cable television systems, direct broadcast satellite operators, and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.