Vanguard Group Inc. Raises Position in Fox Co. (NASDAQ:FOXA)

Vanguard Group Inc. grew its holdings in shares of Fox Co. (NASDAQ:FOXA – Get Rating) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,855,426 shares of the company’s stock after purchasing an additional 240,496 shares during the period. Vanguard Group Inc. owned approximately 6.24% of FOX worth $1,038,685,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of FOX by 9.9% in the 3rd quarter. BlackRock Inc. now owns 44,282,377 shares of the company’s stock valued at $1,358,584,000 after acquiring an additional 3,976,775 shares during the period. Invesco Ltd. increased its position in shares of FOX by 16.0% in the 1st quarter. Invesco Ltd. now owns 4,617,824 shares of the company’s stock valued at $182,174,000 after acquiring an additional 637,439 shares during the period. Dimensional Fund Advisors LP increased its position in shares of FOX by 1.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,720,973 shares of the company’s stock valued at $114,155,000 after acquiring an additional 61,031 shares during the period. Deutsche Bank AG increased its position in shares of FOX by 20.9% in the 2nd quarter. Deutsche Bank AG now owns 1,977,018 shares of the company’s stock valued at $63,580,000 after acquiring an additional 341,976 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. increased its position in shares of FOX by 1,986.9% in the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 1,835,470 shares of the company’s stock valued at $59,030,000 after acquiring an additional 1,747,519 shares during the period. 55.65% of the stock is owned by institutional investors and hedge funds.

FOX Price Performance

NASDAQ:FOXA opened at $32.28 on Tuesday. The stock has a market capitalization of $17.26 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.80 and a beta of 0.86. Fox Co. has a 52 week low of $28.01 and a 52 week high of $42.02. The stock’s 50-day moving average price is $33.96 and its 200-day moving average price is $32.22. The company has a quick ratio of 2.86, a current ratio of 3.37 and a debt-to-equity ratio of 0.62.

FOX (NASDAQ:FOXA – Get Rating) last issued its quarterly earnings results on Wednesday, February 8th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.58 billion. FOX had a net margin of 10.55% and a return on equity of 15.71%. FOX’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.13 EPS. As a group, equities analysts expect that Fox Co. will post 3.49 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 1st will be paid a $0.25 dividend. This represents a yield of 1.4%. The ex-dividend date is Tuesday, February 28th. FOX’s dividend payout ratio is presently 18.32%.

Insider Activity at FOX

In related news, insider Viet D. Dinh sold 72,207 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $35.91, for a total value of $2,592,953.37. Following the transaction, the insider now directly owns 49,384 shares of the company’s stock, valued at approximately $1,773,379.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 19.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a research report on Saturday, November 26th. Wolfe Research downgraded FOX from a “peer perform” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research report on Tuesday, January 3rd. Morgan Stanley increased their price target on FOX from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 9th. Citigroup increased their price target on FOX from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. Finally, Guggenheim cut their price target on FOX from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, January 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.88.

About FOX

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Fox Corp. delivers news, sports and entertainment content. The company provides news under the brands FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. It operates through three segments: Cable Network Programming, Television, and Other, Corporate and Eliminations. The Cable Network Programming segment consists of the production and licensing of news and sports content distributed primarily through traditional cable television systems, direct broadcast satellite operators and telecommunication companies and online multi-channel video programming distributors.