Russell Investments Group Ltd. Purchases 5,536 Shares of Fox Co. (NASDAQ:FOXA)

Posted by on May 12th, 2023

Russell Investments Group Ltd. raised its position in Fox Co. (NASDAQ:FOXA – Get Rating) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,314 shares of the company’s stock after buying an additional 5,536 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of FOX worth $11,369,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. grew its position in FOX by 9.9% during the third quarter. BlackRock Inc. now owns 44,282,377 shares of the company’s stock worth $1,358,584,000 after buying an additional 3,976,775 shares in the last quarter. Vanguard Group Inc. grew its position in FOX by 0.7% during the third quarter. Vanguard Group Inc. now owns 33,855,426 shares of the company’s stock worth $1,038,685,000 after buying an additional 240,496 shares in the last quarter. Invesco Ltd. grew its position in FOX by 16.0% during the first quarter. Invesco Ltd. now owns 4,617,824 shares of the company’s stock worth $182,174,000 after buying an additional 637,439 shares in the last quarter. Dimensional Fund Advisors LP grew its position in FOX by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 3,720,973 shares of the company’s stock worth $114,155,000 after buying an additional 61,031 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in FOX by 97.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,659,787 shares of the company’s stock worth $80,778,000 after buying an additional 1,315,219 shares in the last quarter. 55.65% of the stock is currently owned by hedge funds and other institutional investors.

FOX Stock Performance

FOX stock opened at $30.67 on Friday. The company has a quick ratio of 2.86, a current ratio of 3.37 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $16.40 billion, a P/E ratio of 11.23, a PEG ratio of 0.96 and a beta of 0.85. The stock’s 50 day moving average is $33.24 and its 200 day moving average is $32.49. Fox Co. has a twelve month low of $28.01 and a twelve month high of $37.26.

FOX (NASDAQ:FOXA – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.03 billion. FOX had a return on equity of 15.71% and a net margin of 10.55%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 EPS. On average, equities research analysts predict that Fox Co. will post 3.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FOXA has been the subject of a number of research reports. Barclays cut their price objective on FOX from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, April 14th. StockNews.com started coverage on FOX in a report on Thursday, March 16th. They issued a “hold” rating for the company. Citigroup boosted their target price on FOX from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, February 13th. Morgan Stanley lowered their target price on FOX from $39.00 to $37.00 in a research note on Thursday, May 4th. Finally, Argus lowered FOX from a “buy” rating to a “hold” rating in a research report on Thursday, April 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.39.

FOX Company Profile

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Fox Corp. delivers 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. The Cable Network Programming segment consists of the production and licensing of news and sports content distributed primarily through traditional cable television systems, direct broadcast satellite operators and telecommunication companies and online multi-channel video programming distributors.

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Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

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