Allspring Global Investments Holdings LLC Raises Holdings in Fox Co. (NASDAQ:FOXA)

Allspring Global Investments Holdings LLC raised its position in Fox Co. (NASDAQ:FOXA - Free Report) by 27.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 935,377 shares of the company's stock after purchasing an additional 202,972 shares during the period. Allspring Global Investments Holdings LLC owned 0.20% of FOX worth $45,798,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in FOX by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company's stock valued at $47,649,000 after buying an additional 110,753 shares during the period. Entropy Technologies LP purchased a new stake in shares of FOX in the 3rd quarter valued at about $546,000. Invst LLC bought a new stake in shares of FOX during the 3rd quarter valued at about $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of FOX during the third quarter worth about $2,867,000. Finally, Park Avenue Securities LLC increased its position in shares of FOX by 32.4% in the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company's stock worth $752,000 after purchasing an additional 3,787 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Trading Up 0.3 %

Shares of FOX stock traded up $0.18 on Monday, hitting $55.63. The stock had a trading volume of 3,521,225 shares, compared to its average volume of 3,616,458. The stock's 50-day simple moving average is $49.82 and its two-hundred day simple moving average is $44.89. Fox Co. has a one year low of $28.28 and a one year high of $55.86. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The stock has a market cap of $25.41 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.34. The firm had revenue of $5.08 billion for the quarter, compared to analysts' expectations of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share. As a group, sell-side analysts predict that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a dividend yield of 1%. FOX's dividend payout ratio is currently 11.56%.

Insider Activity at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the sale, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of FOX from $39.00 to $50.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Moffett Nathanson downgraded shares of FOX from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft increased their target price on FOX from $42.00 to $47.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. StockNews.com lowered FOX from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Finally, Citigroup increased their price objective on FOX from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, FOX presently has an average rating of "Hold" and a consensus price target of $51.00.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.