Capital Asset Advisory Services LLC purchased a new position in Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,199 shares of the company’s stock, valued at approximately $122,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC purchased a new position in shares of FOX in the 4th quarter worth $31,000. Tompkins Financial Corp boosted its stake in shares of FOX by 1,947.0% in the 4th quarter. Tompkins Financial Corp now owns 1,351 shares of the company’s stock worth $32,000 after buying an additional 1,285 shares during the last quarter. Vantage Consulting Group Inc purchased a new position in shares of FOX in the 4th quarter worth $47,000. Laffer Tengler Investments purchased a new position in shares of FOX in the 4th quarter worth $52,000. Finally, Bessemer Group Inc. boosted its stake in shares of FOX by 306.5% in the 4th quarter. Bessemer Group Inc. now owns 1,821 shares of the company’s stock worth $53,000 after buying an additional 1,373 shares during the last quarter. Hedge funds and other institutional investors own 58.55% of the company’s stock.
FOXA has been the topic of a number of research reports. Wells Fargo & Company upgraded FOX from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $27.00 to $41.00 in a research note on Wednesday. Barclays lifted their target price on FOX from $29.00 to $38.00 in a research report on Monday, March 29th. Zacks Investment Research downgraded FOX from a “buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a research report on Thursday, February 11th. Morgan Stanley lifted their target price on FOX from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, February 8th. Finally, Rosenblatt Securities lifted their target price on FOX from $22.00 to $25.00 and gave the company a “sell” rating in a research report on Wednesday, February 10th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $31.83.
FOX (NASDAQ:FOXA) last released its earnings results on Monday, February 8th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.19. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4 billion. FOX had a return on equity of 16.65% and a net margin of 13.00%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. As a group, equities research analysts anticipate that Fox Co. will post 2.27 earnings per share for the current fiscal year.
The firm also recently announced a semi-annual dividend, which was paid on Wednesday, April 7th. Stockholders of record on Wednesday, March 10th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, March 9th. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio is 18.55%.
Fox Corporation operates as a news, sports, and entertainment company in the United States. 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 primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online multi-channel video programming distributors.
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