California Public Employees Retirement System Sells 43,127 Shares of Fox Co. (NASDAQ:FOXA)

California Public Employees Retirement System cut its holdings in Fox Co. (NASDAQ:FOXA) by 7.3% during the fourth quarter, HoldingsChannel reports. The firm owned 550,412 shares of the company’s stock after selling 43,127 shares during the period. California Public Employees Retirement System’s holdings in FOX were worth $16,331,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Czech National Bank increased its position in FOX by 39.3% during the third quarter. Czech National Bank now owns 44,353 shares of the company’s stock worth $1,384,000 after acquiring an additional 12,506 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of FOX by 10.6% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 154,388 shares of the company’s stock worth $4,817,000 after purchasing an additional 14,800 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of FOX by 19.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 248,986 shares of the company’s stock valued at $7,768,000 after buying an additional 40,413 shares during the last quarter. Raymond James & Associates lifted its stake in shares of FOX by 21.6% in the third quarter. Raymond James & Associates now owns 229,473 shares of the company’s stock valued at $7,160,000 after buying an additional 40,816 shares during the period. Finally, Stratos Wealth Advisors LLC grew its position in FOX by 9.6% during the third quarter. Stratos Wealth Advisors LLC now owns 34,716 shares of the company’s stock worth $1,083,000 after buying an additional 3,027 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Up 1.2 %

FOXA opened at $31.57 on Tuesday. The firm has a market cap of $14.99 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 0.42 and a beta of 0.78. 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’s 50-day simple moving average is $30.35 and its 200-day simple moving average is $30.41. Fox Co. has a twelve month low of $28.28 and a twelve month high of $35.40.

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

FOX Announces Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a yield of 1.8%. FOX’s dividend payout ratio (DPR) is presently 30.77%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FOXA. Macquarie upped their price target on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Citigroup upgraded FOX from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $35.00 in a research note on Friday, February 23rd. Wolfe Research upgraded shares of FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Rosenblatt Securities restated a “neutral” rating and issued a $34.00 price objective on shares of FOX in a research note on Monday, April 15th. Finally, Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $33.40.

About FOX

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.