South Dakota Investment Council Sells 9,700 Shares of Fox Co. (NASDAQ:FOXA)

South Dakota Investment Council lessened its holdings in shares of Fox Co. (NASDAQ:FOXA) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 324,337 shares of the company’s stock after selling 9,700 shares during the period. South Dakota Investment Council’s holdings in FOX were worth $9,623,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC boosted its holdings in shares of FOX by 862.2% during the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after buying an additional 845 shares in the last quarter. MV Capital Management Inc. boosted its stake in 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 in the last quarter. GAMMA Investing LLC bought a new position in FOX in the 4th quarter worth about $53,000. ING Groep NV bought a new position in FOX in the 3rd quarter worth about $58,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in FOX in the 4th quarter worth about $76,000. Institutional investors own 52.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FOXA. Rosenblatt Securities reiterated a “neutral” rating and issued a $34.00 price target on shares of FOX in a research note on Monday, April 15th. Wolfe Research upgraded shares of FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. TheStreet cut shares of FOX from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th. Finally, Citigroup upgraded shares of FOX from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $35.00 in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $33.40.

FOX Stock Performance

FOX stock traded down $0.10 during midday trading on Wednesday, hitting $31.61. The stock had a trading volume of 1,283,184 shares, compared to its average volume of 3,343,911. The firm’s fifty day moving average is $30.26 and its two-hundred day moving average is $30.39. The company has a market capitalization of $15.01 billion, a PE ratio of 18.76, a P/E/G ratio of 0.42 and a beta of 0.78. Fox Co. has a 52-week low of $28.28 and a 52-week high of $35.40. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.24. The business had revenue of $4.23 billion during 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 company’s revenue was down 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.48 EPS. On average, research analysts forecast that Fox Co. will post 3.19 EPS for the current year.

FOX Dividend Announcement

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

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.