State of New Jersey Common Pension Fund D Increases Stock Position in Fox Co. (NASDAQ:FOXA)

State of New Jersey Common Pension Fund D increased its stake in shares of Fox Co. (NASDAQ:FOXA) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,808 shares of the company’s stock after purchasing an additional 6,332 shares during the period. State of New Jersey Common Pension Fund D’s holdings in FOX were worth $2,487,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Stevens Capital Management LP boosted its stake in shares of FOX by 104.7% in the 4th quarter. Stevens Capital Management LP now owns 90,540 shares of the company’s stock worth $2,686,000 after buying an additional 46,316 shares during the last quarter. Alaska Permanent Fund Corp purchased a new position in FOX in the fourth quarter worth about $431,000. GAMMA Investing LLC bought a new stake in shares of FOX during the 4th quarter valued at about $53,000. Linden Thomas Advisory Services LLC increased its position in shares of FOX by 8.2% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 45,961 shares of the company’s stock valued at $1,364,000 after purchasing an additional 3,487 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of FOX by 5.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 383,885 shares of the company’s stock worth $11,390,000 after purchasing an additional 19,666 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Analyst Upgrades and Downgrades

FOXA has been the subject of a number of research reports. Macquarie upped their target price on shares of FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Citigroup upgraded FOX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $34.00 to $35.00 in a research report on Friday, February 23rd. Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. Finally, TheStreet lowered shares of FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.40.

FOX Stock Performance

FOXA opened at $31.33 on Thursday. 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 stock has a market capitalization of $14.88 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 0.43 and a beta of 0.78. The company has a fifty day moving average of $30.40 and a 200 day moving average of $30.42. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $35.40.

FOX (NASDAQ:FOXA) last issued its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.24. The firm 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%. The business’s revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. As a group, sell-side analysts forecast that Fox Co. will post 3.18 earnings per share for the current fiscal year.

FOX Announces Dividend

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