Deane Retirement Strategies Inc. Purchases New Stake in Fox Co. (NASDAQ:FOXA)

Deane Retirement Strategies Inc. purchased a new position in shares of Fox Co. (NASDAQ:FOXA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 92,757 shares of the company’s stock, valued at approximately $2,752,000. FOX comprises 1.5% of Deane Retirement Strategies Inc.’s investment portfolio, making the stock its 23rd largest holding.

Several other large investors also recently modified their holdings of FOXA. Covestor Ltd lifted its position in FOX by 68.8% in the 2nd quarter. Covestor Ltd now owns 1,219 shares of the company’s stock worth $41,000 after buying an additional 497 shares during the last quarter. MV Capital Management Inc. raised its holdings in FOX by 36.5% in the third quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock worth $44,000 after buying an additional 379 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in FOX by 35.6% during the 1st quarter. Belpointe Asset Management LLC now owns 1,437 shares of the company’s stock valued at $49,000 after purchasing an additional 377 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of FOX in the 2nd quarter worth $58,000. Finally, ING Groep NV bought a new position in shares of FOX during the third quarter valued at $58,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on FOXA shares. TheStreet lowered FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Wells Fargo & Company lowered their price objective on shares of FOX from $30.00 to $28.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $35.00 in a report on Friday, February 23rd. Macquarie upped their price objective on FOX from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, Wolfe Research upgraded shares of FOX from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.45.

FOX Stock Down 0.5 %

NASDAQ FOXA traded down $0.17 during midday trading on Thursday, hitting $31.00. 1,103,973 shares of the company traded hands, compared to its average volume of 3,427,309. Fox Co. has a 52 week low of $28.28 and a 52 week high of $35.40. The company’s 50-day simple moving average is $30.32 and its 200-day simple moving average is $30.43. The company has a market cap of $14.72 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 0.40 and a beta of 0.78. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 2.01.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.10 by $0.24. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. FOX’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 EPS. As a group, equities research analysts forecast that Fox Co. will post 3.28 earnings per share for the current year.

FOX Announces Dividend

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

FOX Company Profile

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.