Los Angeles Capital Management LLC Decreases Position in Fox Co. (NASDAQ:FOXA)

Los Angeles Capital Management LLC cut its holdings in Fox Co. (NASDAQ:FOXA) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,423 shares of the company’s stock after selling 3,365 shares during the quarter. Los Angeles Capital Management LLC’s holdings in FOX were worth $1,585,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of FOXA. Raymond James & Associates lifted its stake in shares of FOX by 21.6% during the 3rd quarter. Raymond James & Associates now owns 229,473 shares of the company’s stock worth $7,160,000 after purchasing an additional 40,816 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of FOX by 41.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 12,859 shares of the company’s stock valued at $401,000 after acquiring an additional 3,794 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of FOX by 7.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 66,931 shares of the company’s stock worth $2,088,000 after acquiring an additional 4,393 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in FOX by 6.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,656 shares of the company’s stock valued at $1,674,000 after purchasing an additional 3,421 shares during the period. Finally, AustralianSuper Pty Ltd increased its position in FOX by 18.4% during the third quarter. AustralianSuper Pty Ltd now owns 949,387 shares of the company’s stock worth $29,621,000 after purchasing an additional 147,494 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FOXA. Seaport Res Ptn raised shares of FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. Macquarie increased their target price on shares of FOX from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $35.00 in a research report on Friday, February 23rd. TheStreet downgraded FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $34.00 price objective on shares of FOX in a research report on Monday, April 15th. 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $33.40.

FOX Price Performance

Shares of FOXA opened at $32.32 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 2.01. Fox Co. has a 12 month low of $28.28 and a 12 month high of $35.40. The stock has a fifty day moving average price of $30.58 and a 200 day moving average price of $30.43. The company has a market cap of $15.35 billion, a P/E ratio of 19.12, a PEG ratio of 0.43 and a beta of 0.77.

FOX (NASDAQ:FOXA) last announced its earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, topping 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 firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. On average, research analysts forecast that Fox Co. will post 3.18 earnings per share for the current year.

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.