Fox Co. (NASDAQ:FOXA) Sees Significant Decline in Short Interest

Fox Co. (NASDAQ:FOXAGet Free Report) saw a significant decrease in short interest during the month of February. As of February 29th, there was short interest totalling 16,410,000 shares, a decrease of 6.2% from the February 14th total of 17,490,000 shares. Approximately 6.9% of the shares of the company are sold short. Based on an average daily volume of 3,590,000 shares, the days-to-cover ratio is currently 4.6 days.

Hedge Funds Weigh In On FOX

Several institutional investors have recently added to or reduced their stakes in FOXA. Cornercap Investment Counsel Inc. increased its holdings in FOX by 0.8% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 41,656 shares of the company’s stock worth $1,236,000 after purchasing an additional 324 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of FOX by 3.1% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,983 shares of the company’s stock worth $337,000 after buying an additional 334 shares during the last quarter. Prudential PLC grew its holdings in shares of FOX by 1.6% in the third quarter. Prudential PLC now owns 23,068 shares of the company’s stock valued at $720,000 after acquiring an additional 362 shares in the last quarter. Personal CFO Solutions LLC lifted its holdings in FOX by 3.0% during the second quarter. Personal CFO Solutions LLC now owns 12,607 shares of the company’s stock worth $429,000 after acquiring an additional 368 shares during the period. Finally, Empirical Finance LLC boosted its position in FOX by 3.8% in the third quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock worth $319,000 after purchasing an additional 372 shares during the last quarter. 55.93% of the stock is owned by institutional investors and hedge funds.

FOX Price Performance

FOXA traded up $0.09 on Tuesday, reaching $29.80. The stock had a trading volume of 350,954 shares, compared to its average volume of 3,471,584. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 0.39 and a beta of 0.78. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $35.40. The firm has a 50-day moving average of $30.39 and a 200-day moving average of $30.47.

FOX (NASDAQ:FOXAGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The firm’s revenue was down 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that FOX will post 3.23 EPS for the current year.

FOX Dividend Announcement

The firm also recently declared a Semi-Annual dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a yield of 1.8%. FOX’s payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

FOXA has been the topic of several recent research reports. TheStreet cut FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Macquarie boosted their price objective on shares of FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Wolfe Research upgraded shares of FOX from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Wells Fargo & Company reduced their price target on FOX from $30.00 to $28.00 and set an “underweight” rating on the stock in a research report on Thursday, February 8th. Finally, Citigroup raised FOX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $35.00 in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, FOX currently has an average rating of “Hold” and a consensus target price of $33.45.

Check Out Our Latest Report on FOX

About FOX

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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.

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