Fox Co. (NASDAQ:FOXA) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of Fox Co. (NASDAQ:FOXAGet Rating) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 144,811 shares of the company’s stock after selling 6,460 shares during the quarter. State of Alaska Department of Revenue’s holdings in FOX were worth $4,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FOXA. Verdence Capital Advisors LLC purchased a new position in shares of FOX during the 1st quarter worth $208,000. Teacher Retirement System of Texas raised its holdings in shares of FOX by 16.9% during the 1st quarter. Teacher Retirement System of Texas now owns 495,131 shares of the company’s stock worth $19,533,000 after acquiring an additional 71,614 shares during the period. CENTRAL TRUST Co raised its holdings in shares of FOX by 4.0% during the 1st quarter. CENTRAL TRUST Co now owns 7,674 shares of the company’s stock worth $303,000 after acquiring an additional 294 shares during the period. Wealthsource Partners LLC raised its holdings in shares of FOX by 2.7% during the 4th quarter. Wealthsource Partners LLC now owns 20,005 shares of the company’s stock worth $738,000 after acquiring an additional 517 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in shares of FOX by 0.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 463,497 shares of the company’s stock worth $19,328,000 after acquiring an additional 3,514 shares during the period. Institutional investors and hedge funds own 56.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wolfe Research lowered FOX from an “outperform” rating to a “peer perform” rating and reduced their price target for the stock from $52.00 to $39.00 in a report on Thursday, June 2nd. Evercore ISI reduced their price objective on shares of FOX from $44.00 to $38.00 in a report on Wednesday, July 27th. Rosenblatt Securities boosted their price objective on shares of FOX from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. Credit Suisse Group reduced their price objective on shares of FOX to $46.00 in a report on Monday, August 15th. Finally, Moffett Nathanson reduced their price objective on shares of FOX to $46.00 in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, FOX currently has a consensus rating of “Hold” and a consensus price target of $40.90.

FOX Stock Performance

NASDAQ FOXA opened at $34.24 on Wednesday. The company has a market cap of $18.80 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.61 and a beta of 0.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.61 and a quick ratio of 3.26. The stock has a 50-day moving average of $34.31 and a two-hundred day moving average of $35.54. Fox Co. has a 1-year low of $31.33 and a 1-year high of $44.95.

FOX (NASDAQ:FOXAGet Rating) last released its earnings results on Wednesday, August 10th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.04). The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.05 billion. FOX had a net margin of 8.62% and a return on equity of 14.05%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, analysts anticipate that Fox Co. will post 3.68 EPS for the current year.

FOX Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, August 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This is an increase from FOX’s previous Semi-Annual dividend of $0.24. This represents a dividend yield of 1.4%. FOX’s payout ratio is currently 23.70%.

FOX Company Profile

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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 and virtual multi-channel video programming distributors (MVPDs) and other digital platforms, primarily in the U.S.

Further Reading

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Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

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