PGGM Investments Takes $1.09 Million Position in Fox Co. (NASDAQ:FOXA)

PGGM Investments acquired a new position in shares of Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 36,719 shares of the company’s stock, valued at approximately $1,089,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its stake in FOX by 862.2% in the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after acquiring an additional 845 shares during the last quarter. MV Capital Management Inc. increased 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 purchasing an additional 379 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of FOX during the 4th quarter worth approximately $53,000. ING Groep NV purchased a new stake in FOX in the 3rd quarter valued at approximately $58,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in FOX during the 4th quarter valued at $76,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Performance

FOX stock opened at $31.57 on Tuesday. The company has a market cap of $14.99 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 0.42 and a beta of 0.78. Fox Co. has a 12 month low of $28.28 and a 12 month high of $35.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 2.01. The stock’s 50-day moving average is $30.35 and its 200-day moving average is $30.41.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, beating 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 firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the firm posted $0.48 earnings per share. FOX’s revenue for the quarter was down 8.1% compared to the same quarter last year. Equities analysts anticipate that Fox Co. will post 3.18 earnings per share for the current year.

FOX Announces Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a yield of 1.8%. FOX’s dividend payout ratio is presently 30.77%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Macquarie upped their price objective on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $34.00 price target on shares of FOX in a research note on Monday, April 15th. Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $35.00 in a research report on Friday, February 23rd. 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 research note on Thursday, February 8th. Finally, TheStreet lowered FOX from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.