abrdn plc Increases Position in Fox Co. (NASDAQ:FOXA)

abrdn plc lifted its holdings in Fox Co. (NASDAQ:FOXA) by 39.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 121,310 shares of the company’s stock after buying an additional 34,491 shares during the quarter. abrdn plc’s holdings in FOX were worth $3,599,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Global Retirement Partners LLC increased its stake in FOX by 862.2% in the fourth quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock worth $29,000 after purchasing an additional 845 shares during the period. MV Capital Management Inc. lifted its holdings in FOX by 36.5% during the 3rd 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 in the last quarter. ING Groep NV purchased a new stake in FOX in the 3rd quarter valued at about $58,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in FOX in the 4th quarter worth about $76,000. Finally, V Square Quantitative Management LLC increased its position in shares of FOX by 220.8% during the third quarter. V Square Quantitative Management LLC now owns 5,736 shares of the company’s stock worth $179,000 after acquiring an additional 3,948 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Stock Down 1.5 %

NASDAQ:FOXA opened at $31.21 on Monday. The company’s 50-day simple moving average is $30.33 and its 200-day simple moving average is $30.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.01 and a current ratio of 2.29. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $35.40. The stock has a market capitalization of $14.82 billion, a P/E ratio of 18.47, a P/E/G ratio of 0.42 and a beta of 0.78.

FOX (NASDAQ:FOXA) last announced its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, beating 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 was down 8.1% compared to the same quarter last year. During the same period last year, the firm earned $0.48 earnings per share. On average, equities analysts anticipate that Fox Co. will post 3.18 earnings per share for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were given a dividend of $0.26 per share. This represents a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, March 5th. FOX’s dividend payout ratio is currently 30.77%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FOXA. Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Macquarie lifted their price objective on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Citigroup upgraded shares of FOX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $35.00 in a report on Friday, February 23rd. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $34.00 price target on shares of FOX in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.