Strs Ohio Lowers Stake in Fox Co. (NASDAQ:FOXA)

Strs Ohio reduced its stake in shares of Fox Co. (NASDAQ:FOXA) by 20.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 528,834 shares of the company’s stock after selling 138,944 shares during the quarter. Strs Ohio owned approximately 0.11% of FOX worth $15,690,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Global Retirement Partners LLC boosted its stake in shares of FOX by 862.2% during the fourth quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after purchasing an additional 845 shares during the period. MV Capital Management Inc. lifted its stake in FOX by 36.5% in the third quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock worth $44,000 after acquiring an additional 379 shares during the period. Belpointe Asset Management LLC lifted its stake in FOX by 35.6% in the first quarter. Belpointe Asset Management LLC now owns 1,437 shares of the company’s stock worth $49,000 after acquiring an additional 377 shares during the period. ING Groep NV purchased a new stake in FOX in the third quarter worth about $58,000. Finally, UniSuper Management Pty Ltd purchased a new stake in FOX in the second quarter worth about $71,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on FOXA. Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $35.00 in a research note on Friday, February 23rd. TheStreet lowered shares of FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Wells Fargo & Company decreased their price target on shares of FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. Rosenblatt Securities reissued a “neutral” rating and set a $34.00 price target on shares of FOX in a research report on Monday. Finally, Macquarie upped their price objective on shares of FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, FOX currently has an average rating of “Hold” and a consensus target price of $33.40.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $30.40 on Wednesday. Fox Co. has a twelve month low of $28.28 and a twelve month high of $35.40. The company’s 50 day moving average is $30.11 and its 200 day moving average is $30.37. 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 company has a market cap of $14.44 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 0.40 and a beta of 0.78.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, topping 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 net margin of 5.75% and a return on equity of 15.81%. The business’s revenue was down 8.1% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. On average, sell-side analysts forecast that Fox Co. will post 3.28 EPS for the current year.

FOX Dividend Announcement

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

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.