Summit Global Investments Raises Holdings in Fox Co. (NASDAQ:FOXA)

Summit Global Investments increased its position in Fox Co. (NASDAQ:FOXA) by 46.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,120 shares of the company’s stock after buying an additional 39,503 shares during the period. Summit Global Investments’ holdings in FOX were worth $3,712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in FOX by 10.6% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 154,388 shares of the company’s stock valued at $4,817,000 after purchasing an additional 14,800 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of 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 last quarter. Raymond James & Associates grew its position in FOX by 21.6% in the third quarter. Raymond James & Associates now owns 229,473 shares of the company’s stock worth $7,160,000 after acquiring an additional 40,816 shares in the last quarter. Stratos Wealth Advisors LLC increased its stake in FOX by 9.6% during the third quarter. Stratos Wealth Advisors LLC now owns 34,716 shares of the company’s stock worth $1,083,000 after acquiring an additional 3,027 shares during the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd raised its position in FOX by 15.0% during the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 306,362 shares of the company’s stock valued at $9,558,000 after purchasing an additional 40,056 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Trading Up 0.9 %

FOXA stock traded up $0.27 during trading on Thursday, hitting $31.60. The company had a trading volume of 1,355,291 shares, compared to its average volume of 3,298,787. Fox Co. has a 52-week low of $28.28 and a 52-week high of $35.40. The company has a 50 day simple moving average of $30.40 and a 200-day simple moving average of $30.42. The firm has a market capitalization of $15.01 billion, a P/E ratio of 18.54, a PEG ratio of 0.42 and a beta of 0.77. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70.

FOX (NASDAQ:FOXA) last issued its earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. The business had revenue of $4.23 billion for 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%. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. As a group, research analysts forecast that Fox Co. will post 3.18 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Tuesday, March 26th. Shareholders 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 (DPR) is presently 30.77%.

Analyst Upgrades and Downgrades

FOXA has been the subject of a number of recent research reports. Citigroup upgraded FOX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $35.00 in a report on Friday, February 23rd. Macquarie lifted their price objective on shares of FOX from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Wolfe Research upgraded shares of FOX from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Wells Fargo & Company lowered their target price on shares of FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. Finally, Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average 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.