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

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

Several other hedge funds and other institutional investors also recently bought and sold shares of FOXA. Global Retirement Partners LLC raised its position in FOX by 862.2% during the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock worth $29,000 after buying an additional 845 shares during the last quarter. MV Capital Management Inc. raised its stake in shares of FOX by 36.5% during the 3rd quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock worth $44,000 after buying an additional 379 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of FOX in the 4th quarter valued at approximately $53,000. ING Groep NV purchased a new stake in shares of FOX in the third quarter valued at approximately $58,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in FOX in the fourth quarter worth $76,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FOXA shares. Macquarie upped their target price on shares of FOX from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. TheStreet downgraded FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Wells Fargo & Company cut their price target on FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $35.00 in a report on Friday, February 23rd. Finally, Wolfe Research raised FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. One 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, FOX currently has an average rating of “Hold” and an average target price of $33.40.

FOX Stock Performance

NASDAQ FOXA traded up $0.27 during trading hours on Thursday, reaching $31.60. The company’s stock had a trading volume of 1,355,291 shares, compared to its average volume of 3,298,787. 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 business has a 50-day simple moving average of $30.40 and a 200 day simple moving average of $30.42. The stock has a market cap of $15.01 billion, a PE ratio of 18.54, a PEG ratio of 0.42 and a beta of 0.77. Fox Co. has a 52 week low of $28.28 and a 52 week high of $35.40.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.10 by $0.24. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.21 billion. FOX had a net margin of 5.75% and a return on equity of 15.81%. The company’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Equities research analysts predict that Fox Co. will post 3.18 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, March 5th. This represents a dividend yield of 1.8%. FOX’s dividend payout ratio (DPR) is presently 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.