Allspring Global Investments Holdings LLC Has $45.80 Million Stock Position in Fox Co. (NASDAQ:FOXA)

Allspring Global Investments Holdings LLC lifted its position in shares of Fox Co. (NASDAQ:FOXA) by 27.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 935,377 shares of the company’s stock after buying an additional 202,972 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.20% of FOX worth $45,798,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in shares of FOX by 5.4% during the fourth quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after buying an additional 425,186 shares in the last quarter. KBC Group NV raised its stake in FOX by 56.1% in the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock valued at $115,022,000 after purchasing an additional 851,127 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in FOX by 228.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after purchasing an additional 964,737 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in FOX by 308.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock valued at $59,174,000 after purchasing an additional 919,883 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in FOX by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock valued at $47,649,000 after purchasing an additional 110,753 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

FOX Stock Performance

NASDAQ:FOXA opened at $55.45 on Friday. The stock has a market cap of $25.33 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76. The company has a current ratio of 2.50, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average is $49.47 and its 200-day moving average is $44.60. Fox Co. has a 1-year low of $28.28 and a 1-year high of $55.56.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.34. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. Equities research analysts anticipate that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio is currently 11.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FOXA. Macquarie reaffirmed a “neutral” rating and issued a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. Evercore ISI raised FOX to a “hold” rating in a research note on Tuesday, November 5th. Morgan Stanley boosted their price target on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their price target on FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Barclays lifted their target price on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $51.00.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.