Eaton Vance Management Cuts Stock Position in Fox Co. (NASDAQ:FOXA)


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Eaton Vance Management lessened its position in Fox Co. (NASDAQ:FOXA) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,667,471 shares of the company’s stock after selling 999 shares during the quarter. Eaton Vance Management owned approximately 0.28% of FOX worth $48,557,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Dodge & Cox raised its holdings in shares of FOX by 37.2% in the 4th quarter. Dodge & Cox now owns 44,274,761 shares of the company’s stock valued at $1,289,281,000 after buying an additional 12,001,025 shares during the period. BlackRock Inc. raised its holdings in shares of FOX by 1.5% in the 4th quarter. BlackRock Inc. now owns 39,063,926 shares of the company’s stock valued at $1,137,543,000 after buying an additional 558,941 shares during the period. Rothschild & Co Wealth Management UK Ltd increased its holdings in FOX by 1.6% during the 4th quarter. Rothschild & Co Wealth Management UK Ltd now owns 12,012,655 shares of the company’s stock worth $349,809,000 after purchasing an additional 191,263 shares during the period. Norges Bank purchased a new stake in FOX during the 4th quarter worth about $132,311,000. Finally, Dimensional Fund Advisors LP increased its holdings in FOX by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,484,507 shares of the company’s stock worth $101,469,000 after purchasing an additional 15,178 shares during the period. Hedge funds and other institutional investors own 58.55% of the company’s stock.

Several brokerages have weighed in on FOXA. Royal Bank of Canada upped their price target on FOX from $31.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, February 8th. Barclays upped their price target on FOX from $29.00 to $38.00 in a report on Monday, March 29th. Citigroup upped their price target on FOX from $28.00 to $33.00 in a report on Thursday, February 11th. Zacks Investment Research downgraded FOX from a “buy” rating to a “hold” rating and set a $33.00 price target on the stock. in a report on Thursday, February 11th. Finally, Wells Fargo & Company raised FOX from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $27.00 to $41.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.83.

FOX stock opened at $37.31 on Thursday. Fox Co. has a twelve month low of $23.57 and a twelve month high of $44.80. The stock has a 50 day moving average of $38.24 and a two-hundred day moving average of $31.21. The company has a current ratio of 4.21, a quick ratio of 3.57 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $22.03 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 7.35 and a beta of 1.27.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, February 8th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.19. The company had revenue of $4.09 billion during 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 firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. Equities analysts predict that Fox Co. will post 2.27 earnings per share for the current 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. This represents a dividend yield of 1.4%. The ex-dividend date was Tuesday, March 9th. FOX’s dividend payout ratio (DPR) is 18.55%.

About FOX

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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Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

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