Northwestern Mutual Investment Management Company LLC reduced its position in shares of Fox Co. (NASDAQ:FOXA – Get Rating) by 12.8% in the first quarter, according to the company in its latest filing with the Securities & Exchange Commission. The company held 12,562 shares of the company after selling 1,849 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in FOX were worth $496,000 when it last filed with the SEC.
A number of other major investors have also changed their positions in the company. OPSEU’s Pension Trust Fund increased its stake in FOX stock by 4.7% in the first quarter. OPSEU’s Pension Plan Trust Fund now owns 25,565 shares of the company valued at $1,012,000 after purchasing an additional 1,154 shares during the period. The Swiss National Bank increased its stake in FOX shares by 12.9% during the 1st quarter. The Swiss National Bank now owns 1,387,545 shares of the company valued at $54,739,000 after acquiring an additional 158,300 shares during the period. Duality Advisers LP bought a new position in FOX in Q1 worth approximately $3,721,000. Ingalls & Snyder LLC increased its stake in FOX by 5.1% in the 1st quarter. Ingalls & Snyder LLC now owns 31,310 shares of the company worth $1,235,000 after purchasing an additional 1,520 shares last quarter. Finally, Csenge Advisory Group bought a new position in FOX in Q1 worth approximately $348,000. 56.94% of the shares are currently held by institutional investors.
FOX Stock Performance
FOX shares opened at $36.50 on Monday. Fox Co. has a 52-week low of $31.33 and a 52-week high of $44.95. The company has a quick ratio of 3.26, a current ratio of 3.61 and a debt ratio of 0.63. The stock’s fifty-day moving average is $33.45 and its two-hundred-day moving average is $36.91. The company has a market capitalization of $20.32 billion, a PE ratio of 17.30, a growth price-earnings ratio of 0.66 and a beta of 0.90.
FOX (NASDAQ:FOXA – Get Rating) last released its quarterly results on Wednesday, August 10. The company reported earnings per share (EPS) of $0.74 for the quarter, missing analyst consensus estimates of $0.78 per ($0.04). FOX had a return on equity of 14.05% and a net margin of 8.62%. The company posted revenue of $3.03 billion for the quarter, versus a consensus estimate of $3.05 billion. During the same period a year earlier, the company posted EPS of $0.65. FOX’s quarterly revenue increased 4.9% from the same quarter last year. As a group, analysts expect Fox Co. to post earnings per share of 3.68 for the current year.
FOX increases its dividend
The company also recently declared a semi-annual dividend, which will be paid on Wednesday, September 28. Shareholders of record on Wednesday August 31 will receive a dividend of $0.25 per share. This is an increase from FOX’s previous semi-annual dividend of $0.24. The ex-dividend date is Tuesday, August 30. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio is currently 22.75%.
Analyst upgrades and downgrades
A number of research analysts have recently commented on FOXA stocks. Moffett Nathanson lowered his price target on FOX to $46.00 in a Friday July 22 report. Wolfe Research downgraded FOX from an “outperform” rating to a “peer perform” rating and lowered its price target for the stock from $52.00 to $39.00 in a Thursday report. June 2. Deutsche Bank Aktiengesellschaft cut its price target on FOX from $48.00 to $46.00 in a Wednesday, May 25 report. Wells Fargo & Company cut its price target on FOX from $49.00 to $43.00 and set an “overweight” rating on the stock in a report released Thursday. Finally, Rosenblatt Securities raised its price target on FOX from $35.00 to $37.00 and gave the company a “neutral” rating in a report released Thursday. One analyst rated the stock with a sell rating, five gave the company a hold rating and five gave the company’s stock a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.30.
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Fox Corporation is an information, sports and entertainment company in the United States. The Company operates through three segments: Cable Network Programming; Television; and others, corporate and eliminations. The Cable Network Programming segment produces and licenses news, business news and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies and distributors of online multi-channel video programming.
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