Nisa Investment Advisors LLC Trims Position in Fox Co. (NASDAQ:FOXA)

Nisa Investment Advisors LLC cut its holdings in shares of Fox Co. (NASDAQ:FOXA) by 3.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 51,903 shares of the company’s stock after selling 2,037 shares during the quarter. Nisa Investment Advisors LLC’s holdings in FOX were worth $1,540,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Empirical Finance LLC increased its stake in shares of FOX by 3.8% during the third quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock valued at $319,000 after buying an additional 372 shares during the period. Deane Retirement Strategies Inc. purchased a new position in shares of FOX during the fourth quarter valued at approximately $2,752,000. Federated Hermes Inc. grew its stake in FOX by 3.9% in the third quarter. Federated Hermes Inc. now owns 33,935 shares of the company’s stock worth $1,059,000 after purchasing an additional 1,271 shares during the period. Duality Advisers LP grew its stake in FOX by 273.1% in the third quarter. Duality Advisers LP now owns 49,233 shares of the company’s stock worth $1,536,000 after purchasing an additional 36,038 shares during the period. Finally, AustralianSuper Pty Ltd raised its holdings in FOX by 66.6% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,581,909 shares of the company’s stock worth $46,935,000 after purchasing an additional 632,522 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FOXA shares. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. Citigroup upgraded FOX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $35.00 in a report on Friday, February 23rd. Wells Fargo & Company reduced their price target on FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. Finally, TheStreet downgraded 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 assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $33.40.

FOX Stock Down 2.1 %

Shares of FOXA opened at $30.09 on Monday. The business’s 50 day moving average is $30.15 and its 200 day moving average is $30.38. The company has a market capitalization of $14.29 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.39 and a beta of 0.78. Fox Co. has a 12-month low of $28.28 and a 12-month high of $35.40. 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 (NASDAQ:FOXA) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The company’s revenue was down 8.1% compared to the same quarter last year. Research analysts expect that Fox Co. will post 3.28 earnings per share for the current fiscal year.

FOX Announces Dividend

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

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.