Contrarius Investment Management Ltd cut its stake in Fox Co. (NASDAQ:FOXA) by 80.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 270,566 shares of the company’s stock after selling 1,117,614 shares during the quarter. Contrarius Investment Management Ltd’s holdings in FOX were worth $10,046,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Fifth Third Bancorp grew its holdings in shares of FOX by 11.6% during the 1st quarter. Fifth Third Bancorp now owns 4,430 shares of the company’s stock worth $160,000 after purchasing an additional 462 shares during the period. IndexIQ Advisors LLC grew its holdings in shares of FOX by 13.9% during the 1st quarter. IndexIQ Advisors LLC now owns 5,326 shares of the company’s stock worth $192,000 after purchasing an additional 652 shares during the period. Sowell Financial Services LLC grew its holdings in shares of FOX by 92.4% during the 1st quarter. Sowell Financial Services LLC now owns 3,584 shares of the company’s stock worth $135,000 after purchasing an additional 1,721 shares during the period. Alps Advisors Inc. purchased a new position in shares of FOX during the 1st quarter worth $277,000. Finally, Alberta Investment Management Corp purchased a new position in shares of FOX during the 1st quarter worth $307,000. 53.36% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:FOXA traded up $0.64 during trading on Monday, reaching $39.90. The stock had a trading volume of 59,653 shares, compared to its average volume of 3,858,885. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.91 and a quick ratio of 2.67. The business’s 50-day moving average price is $36.66 and its 200 day moving average price is $37.49. Fox Co. has a 52 week low of $24.93 and a 52 week high of $44.80. The stock has a market capitalization of $22.93 billion, a PE ratio of 10.94, a P/E/G ratio of 1.63 and a beta of 1.25.
The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 1st will be issued a $0.24 dividend. This represents a dividend yield of 1.3%. This is a boost from FOX’s previous Semi-Annual dividend of $0.23. The ex-dividend date is Tuesday, August 31st. FOX’s dividend payout ratio is presently 16.67%.
A number of equities research analysts have issued reports on the company. Guggenheim raised FOX from a “neutral” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Thursday, August 5th. Wells Fargo & Company upgraded FOX from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $42.00 to $47.00 in a research note on Wednesday, June 9th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $39.27.
Fox Corp. delivers compelling news, sports and entertainment content. The company provides news under the brands FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. It operates through three segments: Cable Network Programming, Television, and Other, Corporate and Eliminations.
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