Fox Co. (NASDAQ:FOXA) Stake Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in Fox Co. (NASDAQ:FOXA) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,249 shares of the company’s stock after selling 5,459 shares during the quarter. Mutual of America Capital Management LLC’s holdings in FOX were worth $2,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empirical Finance LLC raised its holdings in FOX by 3.8% during the 3rd quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock worth $319,000 after buying an additional 372 shares during the period. Deane Retirement Strategies Inc. acquired a new stake in FOX during the 4th quarter worth about $2,752,000. Federated Hermes Inc. raised its holdings in FOX by 3.9% during the 3rd quarter. Federated Hermes Inc. now owns 33,935 shares of the company’s stock worth $1,059,000 after buying an additional 1,271 shares during the period. AustralianSuper Pty Ltd increased its holdings in shares of FOX by 66.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,581,909 shares of the company’s stock valued at $46,935,000 after purchasing an additional 632,522 shares during the period. Finally, Duality Advisers LP increased its holdings in shares of FOX by 273.1% in the 3rd quarter. Duality Advisers LP now owns 49,233 shares of the company’s stock valued at $1,536,000 after purchasing an additional 36,038 shares during the period. 52.52% of the stock is currently owned by institutional investors.

FOX Stock Up 2.0 %

FOXA opened at $31.39 on Friday. Fox Co. has a 1-year low of $28.28 and a 1-year high of $35.40. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 0.42 and a beta of 0.78. The business has a 50 day moving average of $30.20 and a 200-day moving average of $30.38.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the prior year, the business earned $0.48 earnings per share. FOX’s revenue for the quarter was down 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fox Co. will post 3.19 earnings per share for the current year.

FOX Announces Dividend

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

Wall Street Analysts Forecast Growth

FOXA has been the topic of a number of research reports. TheStreet downgraded FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. Rosenblatt Securities reiterated a “neutral” rating and issued a $34.00 target price on shares of FOX in a report on Monday, April 15th. Finally, Citigroup upgraded FOX from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $35.00 in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $33.40.

FOX Company Profile

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.