Fox Co. (NASDAQ:FOXA) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in shares of Fox Co. (NASDAQ:FOXA) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,107 shares of the company’s stock after buying an additional 14,513 shares during the period. Van ECK Associates Corp’s holdings in FOX were worth $2,881,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cornercap Investment Counsel Inc. boosted its position in 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. Prudential PLC boosted its position in FOX by 1.6% during the 3rd quarter. Prudential PLC now owns 23,068 shares of the company’s stock worth $720,000 after purchasing an additional 362 shares during the period. Empirical Finance LLC boosted its position in FOX by 3.8% during the 3rd quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock worth $319,000 after purchasing an additional 372 shares during the period. MV Capital Management Inc. grew its stake in shares of FOX by 36.5% during the third quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock valued at $44,000 after acquiring an additional 379 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in shares of FOX by 3.0% during the fourth quarter. Verdence Capital Advisors LLC now owns 13,243 shares of the company’s stock valued at $393,000 after acquiring an additional 384 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Performance

FOXA opened at $32.56 on Tuesday. The business’s 50 day moving average is $30.53 and its 200-day moving average is $30.42. The stock has a market cap of $15.46 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 0.43 and a beta of 0.77. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70. Fox Co. has a twelve month low of $28.28 and a twelve month high of $35.40.

FOX (NASDAQ:FOXA) last announced its earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. On average, analysts predict that Fox Co. will post 3.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FOXA. TheStreet downgraded FOX from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th. Citigroup upgraded FOX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $35.00 in a research note on Friday, February 23rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $34.00 price target on shares of FOX in a research note on Monday, April 15th. Wells Fargo & Company decreased their price target on FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. Finally, Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, FOX currently has an average rating of “Hold” and an average price target 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.