Federated Hermes Inc. Sells 23,190 Shares of Fox Co. (NASDAQ:FOXA)

Federated Hermes Inc. lowered its position in Fox Co. (NASDAQ:FOXA) by 68.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,745 shares of the company’s stock after selling 23,190 shares during the quarter. Federated Hermes Inc.’s holdings in FOX were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Robeco Institutional Asset Management B.V. raised its holdings in FOX by 19.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 248,986 shares of the company’s stock valued at $7,768,000 after acquiring an additional 40,413 shares during the period. Raymond James & Associates boosted 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. Verdence Capital Advisors LLC grew its position in FOX by 41.9% during the third quarter. Verdence Capital Advisors LLC now owns 12,859 shares of the company’s stock worth $401,000 after buying an additional 3,794 shares in the last quarter. IFM Investors Pty Ltd lifted its position in FOX by 7.0% during the third quarter. IFM Investors Pty Ltd now owns 66,931 shares of the company’s stock worth $2,088,000 after purchasing an additional 4,393 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of FOX by 6.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,656 shares of the company’s stock worth $1,674,000 after acquiring an additional 3,421 shares during the period. Institutional investors own 52.52% of the company’s stock.

FOX Trading Up 1.4 %

NASDAQ FOXA opened at $32.11 on Friday. Fox Co. has a one year low of $28.28 and a one year high of $35.40. The business’s fifty day moving average is $30.47 and its 200-day moving average is $30.43. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 2.01. The stock has a market capitalization of $15.25 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 0.43 and a beta of 0.77.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.10 by $0.24. The company 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%. FOX’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period last year, the firm earned $0.48 EPS. Equities research analysts predict that Fox Co. will post 3.18 EPS for the current year.

FOX Dividend Announcement

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

Analyst Upgrades and Downgrades

FOXA has been the topic of several research reports. Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $35.00 in a report on Friday, February 23rd. Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. Rosenblatt Securities restated a “neutral” rating and issued a $34.00 price objective on shares of FOX in a report on Monday, April 15th. TheStreet lowered FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Finally, Wells Fargo & Company lowered their price objective on FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. 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 company. According to MarketBeat.com, FOX has a consensus rating of “Hold” and a consensus target price of $33.40.

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.