Short Interest in Fox Co. (NASDAQ:FOXA) Expands By 8.5%

Fox Co. (NASDAQ:FOXA - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 18,930,000 shares, a growth of 8.5% from the March 15th total of 17,440,000 shares. Currently, 8.0% of the company's stock are sold short. Based on an average trading volume of 3,500,000 shares, the short-interest ratio is currently 5.4 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in FOX in the 4th quarter worth approximately $82,385,000. Northern Trust Corp grew its holdings in shares of FOX by 67.8% in the third quarter. Northern Trust Corp now owns 5,640,787 shares of the company's stock worth $175,993,000 after acquiring an additional 2,279,923 shares during the period. KBC Group NV grew its holdings in shares of FOX by 453.0% in the fourth quarter. KBC Group NV now owns 2,029,839 shares of the company's stock worth $60,225,000 after acquiring an additional 1,662,748 shares during the period. Goldman Sachs Group Inc. increased its position in FOX by 288.4% during the second quarter. Goldman Sachs Group Inc. now owns 1,893,374 shares of the company's stock valued at $64,375,000 after acquiring an additional 1,405,914 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in FOX by 128.0% in the fourth quarter. TD Asset Management Inc now owns 2,294,159 shares of the company's stock valued at $68,068,000 after acquiring an additional 1,287,911 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Up 0.2 %

Shares of FOXA traded up $0.06 on Wednesday, hitting $30.46. 2,107,174 shares of the stock traded hands, compared to its average volume of 3,433,586. The company has a market capitalization of $14.46 billion, a PE ratio of 18.02, a P/E/G ratio of 0.40 and a beta of 0.78. FOX has a one year low of $28.28 and a one year high of $35.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.01 and a current ratio of 2.29. The business has a 50 day simple moving average of $30.13 and a 200 day simple moving average of $30.37.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The firm had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The company's revenue was down 8.1% on a year-over-year basis. As a group, equities analysts forecast that FOX will post 3.28 earnings per share for the current fiscal year.

FOX Announces Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 6th were paid a $0.26 dividend. The ex-dividend date was Tuesday, March 5th. This represents a dividend yield of 1.8%. FOX's dividend payout ratio is presently 30.77%.

Analysts Set New Price Targets

A number of research firms have recently commented on FOXA. TheStreet cut FOX from a "b-" rating to a "c" rating in a research note on Wednesday, February 7th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $34.00 target price on shares of FOX in a research report on Monday. Wolfe Research raised shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Thursday, January 4th. Wells Fargo & Company dropped their price objective on shares of FOX from $30.00 to $28.00 and set an "underweight" rating on the stock in a research note on Thursday, February 8th. Finally, Macquarie raised their target price on shares of FOX from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.