Los Angeles Capital Management LLC Trims Position in Fox Co. (NASDAQ:FOXA)

Los Angeles Capital Management LLC reduced its position in Fox Co. (NASDAQ:FOXA) by 5.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 53,423 shares of the company’s stock after selling 3,365 shares during the quarter. Los Angeles Capital Management LLC’s holdings in FOX were worth $1,585,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Raymond James & Associates boosted its holdings in FOX by 21.6% in the 3rd quarter. Raymond James & Associates now owns 229,473 shares of the company’s stock valued at $7,160,000 after purchasing an additional 40,816 shares during the period. Verdence Capital Advisors LLC raised its position in shares of FOX by 41.9% in the third quarter. Verdence Capital Advisors LLC now owns 12,859 shares of the company’s stock worth $401,000 after buying an additional 3,794 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in FOX by 7.0% during the third quarter. IFM Investors Pty Ltd now owns 66,931 shares of the company’s stock valued at $2,088,000 after buying an additional 4,393 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in FOX by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,656 shares of the company’s stock worth $1,674,000 after buying an additional 3,421 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in FOX by 18.4% in the 3rd quarter. AustralianSuper Pty Ltd now owns 949,387 shares of the company’s stock worth $29,621,000 after acquiring an additional 147,494 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on FOXA shares. Wells Fargo & Company cut their price objective on FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. Seaport Res Ptn raised shares of FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. Macquarie raised their price target on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. TheStreet downgraded shares of FOX from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th. Finally, Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $35.00 in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, FOX currently has a consensus rating of “Hold” and an average price target of $33.40.

FOX Price Performance

Shares of NASDAQ FOXA opened at $32.32 on Wednesday. Fox Co. has a 1 year low of $28.28 and a 1 year high of $35.40. The company’s 50-day moving average is $30.58 and its 200 day moving average is $30.43. 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 stock has a market capitalization of $15.35 billion, a P/E ratio of 19.12, a P/E/G ratio of 0.43 and a beta of 0.77.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. FOX had a net margin of 5.75% and a return on equity of 15.81%. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the business posted $0.48 EPS. FOX’s revenue was down 8.1% compared to the same quarter last year. On average, sell-side analysts expect that Fox Co. will post 3.18 earnings per share for the current year.

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.