Geode Capital Management LLC boosted its position in shares of Fox Corp (NASDAQ:FOXA) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,669,016 shares of the company’s stock after buying an additional 860,913 shares during the quarter. Geode Capital Management LLC’s holdings in FOX were worth $656,632,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in FOXA. Prime Capital Investment Advisors LLC acquired a new stake in shares of FOX in the fourth quarter valued at about $26,000. We Are One Seven LLC acquired a new stake in shares of FOX in the fourth quarter valued at about $38,000. Athena Capital Advisors LLC acquired a new stake in shares of FOX in the fourth quarter valued at about $40,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of FOX in the fourth quarter valued at about $70,000. Finally, Rehmann Capital Advisory Group grew its position in shares of FOX by 74.8% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,724 shares of the company’s stock valued at $83,000 after purchasing an additional 738 shares during the period. Institutional investors own 2.49% of the company’s stock.
Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of FOX in a research report on Monday, March 25th. They issued an “overweight” rating and a $46.00 target price on the stock. BMO Capital Markets assumed coverage on shares of FOX in a research report on Wednesday, April 10th. They issued a “market perform” rating and a $37.00 target price on the stock. Credit Suisse Group lifted their target price on shares of FOX from $46.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Gabelli assumed coverage on shares of FOX in a research report on Wednesday, May 15th. They issued a “buy” rating and a $57.00 target price on the stock. Finally, UBS Group lifted their target price on shares of FOX to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $47.55.
FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.61 billion. The business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 earnings per share. On average, research analysts forecast that Fox Corp will post 2.55 earnings per share for the current year.
The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from FOX’s previous Semi-Annual dividend of $0.18.
Fox Corporation operates as a news, sports, and entertainment company in the United States. 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 primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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