Ninety One UK Ltd Reduces Stock Position in Fox Co. (NASDAQ:FOXA)

Ninety One UK Ltd reduced its holdings in Fox Co. (NASDAQ:FOXA) by 99.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FOXA. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of FOX by 2.6% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 147,700 shares of the company’s stock worth $4,381,000 after purchasing an additional 3,700 shares during the period. Rothschild & Co Wealth Management UK Ltd boosted its stake in shares of FOX by 3.4% during the 4th quarter. Rothschild & Co Wealth Management UK Ltd now owns 316,717 shares of the company’s stock worth $9,397,000 after purchasing an additional 10,355 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of FOX by 137.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,512 shares of the company’s stock worth $4,110,000 after purchasing an additional 80,175 shares during the period. Cornercap Investment Counsel Inc. boosted its stake in shares of FOX by 0.8% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 41,656 shares of the company’s stock worth $1,236,000 after purchasing an additional 324 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new position in shares of FOX during the 4th quarter worth about $213,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Trading Up 2.0 %

NASDAQ:FOXA opened at $31.39 on Friday. Fox Co. has a one year low of $28.28 and a one year high of $35.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.01 and a current ratio of 2.29. The firm has a market cap of $14.91 billion, a P/E ratio of 18.57, a P/E/G ratio of 0.42 and a beta of 0.78. The firm has a 50-day simple moving average of $30.20 and a 200-day simple moving average of $30.37.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 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 analyst estimates of $4.21 billion. FOX had a net margin of 5.75% and a return on equity of 15.81%. FOX’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 EPS. Equities analysts anticipate that Fox Co. will post 3.19 EPS for the current fiscal year.

FOX Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FOXA shares. Wells Fargo & Company dropped their price target on shares of FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. Wolfe Research raised shares of FOX from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Macquarie boosted their price objective on shares of FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Seaport Res Ptn raised shares of FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $34.00 price objective on shares of FOX in a research report on Monday, April 15th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.40.

FOX 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.