Public Employees Retirement System of Ohio Invests $3.70 Million in Fox Corporation $FOX

Public Employees Retirement System of Ohio bought a new position in shares of Fox Corporation (NASDAQ:FOX) in the second quarter, HoldingsChannel reports. The fund bought 70,967 shares of the company’s stock, valued at approximately $3,702,000.

Several other large investors have also recently bought and sold shares of FOX. Great Lakes Advisors LLC purchased a new stake in FOX during the 2nd quarter worth about $4,222,000. Wedge Capital Management L L P NC purchased a new position in shares of FOX in the 2nd quarter valued at about $35,047,000. Gabelli Funds LLC raised its position in shares of FOX by 5.2% during the 4th quarter. Gabelli Funds LLC now owns 566,600 shares of the company’s stock worth $36,789,000 after acquiring an additional 28,200 shares in the last quarter. Foster & Motley Inc. acquired a new stake in shares of FOX during the 2nd quarter worth about $9,237,000. Finally, Gamco Investors INC. ET AL lifted its stake in FOX by 10.0% during the first quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company’s stock worth $31,073,000 after purchasing an additional 53,166 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on FOX shares. Citigroup reiterated a “buy” rating on shares of FOX in a research note on Friday, July 17th. Zacks Research downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 28th. Guggenheim restated a “buy” rating on shares of FOX in a report on Tuesday, August 25th. Weiss Ratings downgraded shares of FOX from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 26th. Finally, Wells Fargo & Company upgraded shares of FOX from a “hold” rating to an “overweight” rating and set a $80.00 price target on the stock in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.89.

FOX Stock Up 0.3%

Shares of NASDAQ FOX opened at $60.47 on Friday. The business has a 50-day moving average price of $54.14 and a 200 day moving average price of $54.45. The stock has a market cap of $25.38 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.65 and a beta of 0.58. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. Fox Corporation has a 52-week low of $44.08 and a 52-week high of $68.18.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. Equities research analysts forecast that Fox Corporation will post 5.91 earnings per share for the current year.

FOX Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be issued a $0.29 dividend. This represents a dividend yield of 96.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. FOX’s payout ratio is presently 15.14%.

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.