LSV Asset Management Buys 686,762 Shares of Fox Co. (NASDAQ:FOXA)

LSV Asset Management lifted its stake in shares of Fox Co. (NASDAQ:FOXA) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,293,153 shares of the company’s stock after acquiring an additional 686,762 shares during the quarter. LSV Asset Management owned approximately 1.72% of FOX worth $246,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp lifted its holdings in FOX by 67.8% in the third quarter. Northern Trust Corp now owns 5,640,787 shares of the company’s stock valued at $175,993,000 after buying an additional 2,279,923 shares during the period. Great Lakes Advisors LLC lifted its stake in shares of FOX by 39.9% in the 3rd quarter. Great Lakes Advisors LLC now owns 2,414,239 shares of the company’s stock valued at $75,324,000 after purchasing an additional 688,193 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of FOX by 42.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,283,300 shares of the company’s stock valued at $71,239,000 after purchasing an additional 684,280 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in FOX by 66.6% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,581,909 shares of the company’s stock worth $46,935,000 after purchasing an additional 632,522 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in FOX by 9.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,094,255 shares of the company’s stock worth $32,467,000 after purchasing an additional 97,922 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Stock Up 1.4 %

Shares of NASDAQ FOXA traded up $0.45 during midday trading on Friday, reaching $32.11. 2,587,669 shares of the company’s stock traded hands, compared to its average volume of 2,902,073. Fox Co. has a one year low of $28.28 and a one year high of $35.40. The stock’s 50 day simple moving average is $30.47 and its 200-day simple moving average is $30.43. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70. The company has a market cap of $15.25 billion, a price-to-earnings ratio of 19.00, a P/E/G ratio of 0.43 and a beta of 0.77.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. On average, analysts predict that Fox Co. will post 3.18 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently announced 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. This represents a yield of 1.8%. The ex-dividend date was Tuesday, March 5th. FOX’s dividend payout ratio (DPR) is presently 30.77%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. Rosenblatt Securities restated a “neutral” rating and issued a $34.00 target price on shares of FOX in a research note on Monday, April 15th. Seaport Res Ptn raised FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. Citigroup upgraded 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 report on Friday, February 23rd. Finally, TheStreet lowered FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, FOX has a consensus rating of “Hold” and an average price target of $33.40.

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.