Federated Hermes Inc. Trims Stock Holdings in Fox Co. (NASDAQ:FOXA)

Federated Hermes Inc. cut its stake in shares of Fox Co. (NASDAQ:FOXAFree Report) by 68.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,745 shares of the company’s stock after selling 23,190 shares during the period. Federated Hermes Inc.’s holdings in FOX were worth $319,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its holdings in shares of FOX by 19.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 248,986 shares of the company’s stock worth $7,768,000 after purchasing an additional 40,413 shares during the last quarter. Raymond James & Associates boosted its stake in FOX by 21.6% during the 3rd quarter. Raymond James & Associates now owns 229,473 shares of the company’s stock valued at $7,160,000 after purchasing an additional 40,816 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in FOX by 41.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,859 shares of the company’s stock worth $401,000 after buying an additional 3,794 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of FOX by 7.0% during the third quarter. IFM Investors Pty Ltd now owns 66,931 shares of the company’s stock valued at $2,088,000 after purchasing an additional 4,393 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of FOX by 6.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,656 shares of the company’s stock valued at $1,674,000 after buying an additional 3,421 shares during the period. Institutional investors own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FOXA. Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Wells Fargo & Company lowered their price target on 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 reaffirmed a “neutral” rating and set a $34.00 target price on shares of FOX in a research note on Monday, April 15th. Citigroup upgraded shares of 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 report on Friday, February 23rd. Finally, Macquarie raised their price objective on FOX from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.40.

Read Our Latest Report on FOX

FOX Stock Performance

Shares of FOXA opened at $32.11 on Friday. The stock has a 50-day moving average of $30.47 and a two-hundred day moving average of $30.43. 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 cap of $15.25 billion, a P/E ratio of 19.00, a P/E/G ratio of 0.43 and a beta of 0.77. Fox Co. has a one year low of $28.28 and a one year high of $35.40.

FOX (NASDAQ:FOXAGet Free Report) last issued its earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. FOX’s revenue for the quarter was down 8.1% on a year-over-year basis. As a group, research analysts predict that Fox Co. will post 3.18 EPS for the current year.

FOX Announces Dividend

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

FOX Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

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