Alaska Permanent Fund Corp Takes Position in Fox Co. (NASDAQ:FOXA)

Alaska Permanent Fund Corp purchased a new stake in shares of Fox Co. (NASDAQ:FOXA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,529 shares of the company’s stock, valued at approximately $431,000.

Several other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in shares of FOX by 67.8% in the 3rd quarter. Northern Trust Corp now owns 5,640,787 shares of the company’s stock valued at $175,993,000 after acquiring an additional 2,279,923 shares during the last quarter. Great Lakes Advisors LLC boosted its holdings 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 purchasing an additional 688,193 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in FOX by 42.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,283,300 shares of the company’s stock valued at $71,239,000 after buying an additional 684,280 shares during the period. AustralianSuper Pty Ltd lifted its position in FOX by 66.6% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,581,909 shares of the company’s stock worth $46,935,000 after buying an additional 632,522 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in FOX by 9.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,094,255 shares of the company’s stock worth $32,467,000 after buying an additional 97,922 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FOXA. Wolfe Research raised shares of FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. TheStreet lowered FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. 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. Rosenblatt Securities reaffirmed a “neutral” rating and set a $34.00 target price on shares of FOX in a research report on Monday, April 15th. Finally, Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, FOX currently has an average rating of “Hold” and an average price target of $33.40.

FOX Stock Performance

Shares of FOXA stock opened at $31.21 on Friday. 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 business has a fifty day moving average of $30.33 and a 200 day moving average of $30.41. The firm has a market capitalization of $14.82 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 0.43 and a beta of 0.78. Fox Co. has a 1 year low of $28.28 and a 1 year 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, research analysts expect that Fox Co. will post 3.19 earnings per share for the current year.

FOX Announces Dividend

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