Deane Retirement Strategies Inc. Invests $2.75 Million in Fox Co. (NASDAQ:FOXA)

Deane Retirement Strategies Inc. purchased a new stake in Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 92,757 shares of the company’s stock, valued at approximately $2,752,000. FOX makes up 1.5% of Deane Retirement Strategies Inc.’s holdings, making the stock its 23rd largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of FOXA. Empirical Finance LLC boosted its position in shares of FOX by 3.8% during the 3rd quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock valued at $319,000 after acquiring an additional 372 shares during the last quarter. Federated Hermes Inc. lifted its holdings in FOX by 3.9% in the third quarter. Federated Hermes Inc. now owns 33,935 shares of the company’s stock valued at $1,059,000 after acquiring an additional 1,271 shares during the period. Duality Advisers LP increased its position in FOX by 273.1% during the third quarter. Duality Advisers LP now owns 49,233 shares of the company’s stock worth $1,536,000 after buying an additional 36,038 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of FOX by 66.6% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,581,909 shares of the company’s stock valued at $46,935,000 after buying an additional 632,522 shares in the last quarter. Finally, Jump Financial LLC boosted its holdings in FOX by 153.6% in the third quarter. Jump Financial LLC now owns 28,058 shares of the company’s stock valued at $875,000 after purchasing an additional 16,994 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup upgraded FOX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $35.00 in a research report on Friday, February 23rd. Macquarie lifted their price objective on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Wolfe Research raised FOX from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Wells Fargo & Company lowered their price objective on shares of FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. Finally, TheStreet downgraded shares of 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, twelve have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, FOX presently has an average rating of “Hold” and a consensus price target of $33.45.

FOX Stock Performance

NASDAQ FOXA traded down $0.17 on Thursday, reaching $31.00. 1,103,973 shares of the company’s stock traded hands, compared to its average volume of 3,427,309. The stock has a 50 day moving average price of $30.32 and a 200-day moving average price of $30.43. The firm has a market cap of $14.72 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 0.40 and a beta of 0.78. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week 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.

FOX (NASDAQ:FOXA) last released its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. FOX had a net margin of 5.75% and a return on equity of 15.81%. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 EPS. Equities research analysts predict that Fox Co. will post 3.28 EPS for the current fiscal year.

FOX Announces Dividend

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

About FOX

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.