Todd Asset Management LLC Invests $19.37 Million in Fox Co. (NASDAQ:FOXA)

Todd Asset Management LLC acquired a new stake in Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 652,859 shares of the company’s stock, valued at approximately $19,370,000. Todd Asset Management LLC owned about 0.14% of FOX at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FOXA. Cornercap Investment Counsel Inc. raised its holdings in shares of FOX by 0.8% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 41,656 shares of the company’s stock worth $1,236,000 after acquiring an additional 324 shares during the last quarter. Prudential PLC boosted its stake in shares of FOX by 1.6% during the 3rd quarter. Prudential PLC now owns 23,068 shares of the company’s stock worth $720,000 after purchasing an additional 362 shares during the last quarter. Empirical Finance LLC raised 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 buying an additional 372 shares during the last quarter. MV Capital Management Inc. lifted its stake in shares of FOX by 36.5% during the third quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock valued at $44,000 after buying an additional 379 shares during the period. Finally, Verdence Capital Advisors LLC boosted its position in FOX by 3.0% during the fourth quarter. Verdence Capital Advisors LLC now owns 13,243 shares of the company’s stock worth $393,000 after acquiring an additional 384 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on FOXA shares. Macquarie increased their price target on FOX from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Seaport Res Ptn raised shares of FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. Wells Fargo & Company cut their price target on shares of FOX from $30.00 to $28.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. TheStreet downgraded FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $34.00 target price on shares of FOX in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, FOX has an average rating of “Hold” and an average price target of $33.40.

FOX Stock Up 1.4 %

FOXA stock traded up $0.45 during trading on Friday, reaching $32.11. The stock had a trading volume of 2,587,669 shares, compared to its average volume of 2,902,073. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average price of $30.43 and a 200 day moving average price of $30.42. The company has a market capitalization of $15.25 billion, a P/E ratio of 19.00, a PEG ratio of 0.43 and a beta of 0.77. Fox Co. has a 1-year low of $28.28 and a 1-year high of $35.40.

FOX (NASDAQ:FOXA) last issued 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. FOX had a return on equity of 15.81% and a net margin of 5.75%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the business posted $0.48 earnings per share. FOX’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, equities analysts anticipate that Fox Co. will post 3.18 earnings per share for the current year.

FOX Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th were paid 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 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.