Pacer Advisors Inc. Reduces Stock Position in Fox Co. (NASDAQ:FOXA)

Pacer Advisors Inc. lessened its stake in Fox Co. (NASDAQ:FOXA - Free Report) by 99.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,743 shares of the company's stock after selling 3,823,621 shares during the quarter. Pacer Advisors Inc.'s holdings in FOX were worth $497,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. MV Capital Management Inc. raised its holdings in shares of FOX by 36.5% in the 3rd quarter. MV Capital Management Inc. now owns 1,416 shares of the company's stock worth $44,000 after purchasing an additional 379 shares during the period. Belpointe Asset Management LLC raised its holdings in shares of FOX by 35.6% in the 1st quarter. Belpointe Asset Management LLC now owns 1,437 shares of the company's stock worth $49,000 after purchasing an additional 377 shares during the period. ING Groep NV bought a new stake in FOX during the 3rd quarter valued at $58,000. UniSuper Management Pty Ltd bought a new stake in FOX during the 2nd quarter valued at $71,000. Finally, Jefferies Financial Group Inc. bought a new stake in FOX during the 4th quarter valued at $72,000. Institutional investors own 52.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of FOX from $30.00 to $28.00 and set an "underweight" rating on the stock in a report on Thursday, February 8th. Citigroup raised shares of FOX from a "neutral" rating to a "buy" rating and boosted their target price for the company from $34.00 to $35.00 in a report on Friday, February 23rd. TheStreet cut shares of FOX from a "b-" rating to a "c" rating in a report on Wednesday, February 7th. Wolfe Research raised shares of FOX from an "underperform" rating to a "peer perform" rating in a report on Thursday, January 4th. Finally, Macquarie boosted their target price on shares of FOX from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, FOX has an average rating of "Hold" and an average target price of $33.40.

FOX Price Performance

NASDAQ:FOXA traded down $0.12 during midday trading on Friday, hitting $31.02. The company had a trading volume of 6,128,219 shares, compared to its average volume of 3,474,328. Fox Co. has a 52-week low of $28.28 and a 52-week high of $35.40. The stock's fifty day moving average price is $30.32 and its 200-day moving average price is $30.42. The company has a market capitalization of $14.73 billion, a PE ratio of 18.36, a P/E/G ratio of 0.41 and a beta of 0.78. 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 - Get Free Report) last announced its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.24. FOX had a net margin of 5.75% and a return on equity of 15.81%. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The firm's quarterly revenue was down 8.1% compared to the same quarter last year. As a group, research analysts expect that Fox Co. will post 3.28 earnings per share for the current year.

FOX Dividend Announcement

The business also recently announced a Semi-Annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were given a $0.26 dividend. The ex-dividend date was Tuesday, March 5th. This represents a 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.