Stevens Capital Management LP Acquires 46,316 Shares of Fox Co. (NASDAQ:FOXA)

Stevens Capital Management LP raised its holdings in shares of Fox Co. (NASDAQ:FOXA) by 104.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,540 shares of the company’s stock after purchasing an additional 46,316 shares during the quarter. FOX accounts for approximately 0.7% of Stevens Capital Management LP’s investment portfolio, making the stock its 27th largest holding. Stevens Capital Management LP’s holdings in FOX were worth $2,686,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Northern Trust Corp increased its holdings in FOX by 67.8% during the third quarter. Northern Trust Corp now owns 5,640,787 shares of the company’s stock valued at $175,993,000 after buying an additional 2,279,923 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in FOX during the 3rd quarter valued at $27,780,000. Allspring Global Investments Holdings LLC increased its holdings in shares of FOX by 269.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 996,333 shares of the company’s stock valued at $31,086,000 after acquiring an additional 726,672 shares during the period. Great Lakes Advisors LLC raised its position in shares of FOX by 39.9% in the 3rd quarter. Great Lakes Advisors LLC now owns 2,414,239 shares of the company’s stock worth $75,324,000 after acquiring an additional 688,193 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of FOX by 42.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,283,300 shares of the company’s stock worth $71,239,000 after purchasing an additional 684,280 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Macquarie boosted their target price on shares of FOX from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Wells Fargo & Company reduced their price objective on shares of FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and increased their target price for the company from $34.00 to $35.00 in a research report on Friday, February 23rd. Seaport Res Ptn raised shares of FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $34.00 price objective on shares of FOX in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.40.

FOX Stock Performance

FOXA traded down $0.47 on Friday, reaching $31.21. 3,166,043 shares of the stock were exchanged, compared to its average volume of 3,344,542. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 2.01. The company’s 50-day moving average price is $30.31 and its 200 day moving average price is $30.41. The firm has a market capitalization of $14.82 billion, a PE ratio of 18.75, a PEG ratio of 0.43 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.

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, topping the consensus estimate of $0.10 by $0.24. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. As a group, sell-side analysts forecast that Fox Co. will post 3.19 EPS for the current fiscal year.

FOX Announces Dividend

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