Fox Corporation $FOXA Position Reduced by Neuberger Berman Group LLC

Neuberger Berman Group LLC trimmed its position in Fox Corporation (NASDAQ:FOXA) by 49.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,649 shares of the company’s stock after selling 21,943 shares during the quarter. Neuberger Berman Group LLC’s holdings in FOX were worth $1,428,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Geneos Wealth Management Inc. raised its holdings in shares of FOX by 205.6% during the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after acquiring an additional 621 shares during the period. Bank of New York Mellon Corp grew its position in FOX by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,908,218 shares of the company’s stock worth $106,937,000 after purchasing an additional 47,475 shares in the last quarter. First Horizon Advisors Inc. raised its stake in FOX by 1,709.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,389 shares of the company’s stock valued at $134,000 after purchasing an additional 2,257 shares during the period. CSM Advisors LLC purchased a new stake in shares of FOX in the second quarter valued at $25,787,000. Finally, DJE Kapital AG boosted its position in shares of FOX by 25.5% in the second quarter. DJE Kapital AG now owns 504,443 shares of the company’s stock worth $28,509,000 after buying an additional 102,472 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Trading Up 1.9%

Shares of NASDAQ FOXA opened at $59.78 on Friday. The business has a 50 day simple moving average of $66.49 and a 200 day simple moving average of $64.51. Fox Corporation has a 52 week low of $46.42 and a 52 week high of $76.39. The stock has a market cap of $25.43 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 7.81 and a beta of 0.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.44 and a current ratio of 2.78.

FOX (NASDAQ:FOXA) last posted its earnings results on Wednesday, February 4th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.47 by $0.35. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.02 billion. FOX had a net margin of 11.41% and a return on equity of 18.14%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share. On average, research analysts predict that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The business also recently announced a dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be issued a dividend of $0.28 per share. This represents a yield of 83.0%. The ex-dividend date is Wednesday, March 4th. FOX’s dividend payout ratio (DPR) is 13.46%.

Insiders Place Their Bets

In other FOX news, insider Adam G. Ciongoli sold 29,897 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total value of $2,079,336.35. Following the completion of the sale, the insider owned 35,978 shares of the company’s stock, valued at $2,502,269.90. The trade was a 45.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FOXA shares. The Goldman Sachs Group reissued a “buy” rating and set a $80.00 price target on shares of FOX in a research report on Wednesday, February 4th. JPMorgan Chase & Co. lifted their target price on FOX from $65.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Wells Fargo & Company lowered shares of FOX from an “overweight” rating to a “hold” rating in a research report on Thursday, February 5th. Bank of America downgraded shares of FOX from a “buy” rating to an “underperform” rating and set a $45.00 price objective on the stock. in a research report on Wednesday, February 25th. Finally, TD Cowen boosted their price target on shares of FOX from $55.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, FOX currently has an average rating of “Hold” and a consensus target price of $71.80.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.