abrdn plc Grows Stock Position in Fox Co. (NASDAQ:FOXA)

abrdn plc increased its holdings in Fox Co. (NASDAQ:FOXA) by 39.7% in the 4th quarter, HoldingsChannel reports. The fund owned 121,310 shares of the company’s stock after purchasing an additional 34,491 shares during the quarter. abrdn plc’s holdings in FOX were worth $3,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of FOX by 2.6% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 147,700 shares of the company’s stock worth $4,381,000 after purchasing an additional 3,700 shares during the period. Rothschild & Co Wealth Management UK Ltd boosted its stake in FOX by 3.4% during the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 316,717 shares of the company’s stock worth $9,397,000 after buying an additional 10,355 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in FOX by 137.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,512 shares of the company’s stock worth $4,110,000 after buying an additional 80,175 shares during the period. Cornercap Investment Counsel Inc. increased its position in shares of FOX by 0.8% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 41,656 shares of the company’s stock valued at $1,236,000 after acquiring an additional 324 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of FOX in the 4th quarter valued at approximately $213,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FOXA shares. TheStreet downgraded shares of FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Wells Fargo & Company dropped their price objective on FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. Wolfe Research raised FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Macquarie lifted their target price on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Finally, Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $35.00 in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, FOX has a consensus rating of “Hold” and an average target price of $33.40.

FOX Stock Down 1.5 %

FOXA stock opened at $31.21 on Monday. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $35.40. The company’s 50 day moving average price is $30.33 and its 200 day moving average price is $30.40. 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 firm has a market capitalization of $14.82 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 0.42 and a beta of 0.78.

FOX (NASDAQ:FOXA) last announced its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.24. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. The business’s revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. On average, equities research analysts anticipate that Fox Co. will post 3.18 EPS for the current fiscal year.

FOX Dividend Announcement

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

FOX Company 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.