Ninety One UK Ltd Trims Holdings in Fox Co. (NASDAQ:FOXA)

Ninety One UK Ltd reduced its holdings in shares of Fox Co. (NASDAQ:FOXA) by 99.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,556 shares of the company’s stock after selling 11,316,321 shares during the period. Ninety One UK Ltd’s holdings in FOX were worth $432,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FOXA shares. Seaport Res Ptn raised FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. TheStreet cut FOX from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th. Rosenblatt Securities reiterated a “neutral” rating and issued a $34.00 target price on shares of FOX in a research note on Monday, April 15th. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Finally, Macquarie raised their target price on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, FOX has a consensus rating of “Hold” and an average target price of $33.40.

FOX Stock Up 2.0 %

Shares of FOXA stock opened at $31.39 on Friday. Fox Co. has a 12 month low of $28.28 and a 12 month high of $35.40. The firm has a market cap of $14.91 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 0.42 and a beta of 0.78. The stock has a 50 day moving average of $30.20 and a 200-day moving average of $30.37. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70.

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, beating analysts’ consensus estimates of $0.10 by $0.24. The business had revenue of $4.23 billion for 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 quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. On average, equities analysts predict that Fox Co. will post 3.19 EPS for the current year.

FOX Announces Dividend

The business also recently declared 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 dividend payout ratio (DPR) 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.