Handelsbanken Fonder AB Reduces Stock Holdings in Fox Co. (NASDAQ:FOXA)

Handelsbanken Fonder AB reduced its position in Fox Co. (NASDAQ:FOXA) by 47.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,414 shares of the company’s stock after selling 20,434 shares during the period. Handelsbanken Fonder AB’s holdings in FOX were worth $665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in FOXA. Empirical Finance LLC boosted its position in shares of FOX by 3.8% in the third quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock valued at $319,000 after acquiring an additional 372 shares during the period. Deane Retirement Strategies Inc. bought a new position in FOX in the 4th quarter valued at $2,752,000. Federated Hermes Inc. grew its position in shares of FOX by 3.9% during the 3rd quarter. Federated Hermes Inc. now owns 33,935 shares of the company’s stock valued at $1,059,000 after purchasing an additional 1,271 shares in the last quarter. AustralianSuper Pty Ltd raised its position in shares of 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 buying an additional 632,522 shares in the last quarter. Finally, Duality Advisers LP boosted its stake in FOX by 273.1% during the third quarter. Duality Advisers LP now owns 49,233 shares of the company’s stock valued at $1,536,000 after buying an additional 36,038 shares during the period. 52.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wolfe Research raised FOX from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Rosenblatt Securities reissued a “neutral” rating and issued a $34.00 price target on shares of FOX in a report on Monday, April 15th. Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $35.00 in a report on Friday, February 23rd. Finally, TheStreet cut FOX from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.40.

FOX Stock Up 1.2 %

Shares of FOX stock opened at $31.57 on Tuesday. The company’s 50 day moving average price is $30.35 and its 200-day moving average price is $30.41. Fox Co. has a 52-week low of $28.28 and a 52-week high of $35.40. 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 stock has a market capitalization of $14.99 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 0.42 and a beta of 0.78.

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

FOX Announces Dividend

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