abrdn plc Decreases Holdings in Fox Co. (NASDAQ:FOX)

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abrdn plc reduced its position in Fox Co. (NASDAQ:FOX – Get Rating) by 38.8% during the first quarter, HoldingsChannel.com reports. The firm owned 36,832 shares of the company’s stock after selling 23,331 shares during the period. abrdn plc’s holdings in FOX were worth $1,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Yacktman Asset Management LP raised its position in FOX by 1.0% in the 4th quarter. Yacktman Asset Management LP now owns 8,659,010 shares of the company’s stock worth $296,744,000 after purchasing an additional 89,882 shares during the period. State Street Corp raised its position in FOX by 6.3% in the 4th quarter. State Street Corp now owns 7,496,014 shares of the company’s stock worth $256,888,000 after purchasing an additional 445,775 shares during the period. Contrarius Investment Management Ltd raised its position in FOX by 35.6% in the 4th quarter. Contrarius Investment Management Ltd now owns 2,623,683 shares of the company’s stock worth $89,914,000 after purchasing an additional 688,278 shares during the period. CQS US LLC grew its stake in FOX by 18.0% in the 4th quarter. CQS US LLC now owns 2,352,717 shares of the company’s stock worth $80,628,000 after acquiring an additional 358,640 shares in the last quarter. Finally, Invesco Ltd. grew its stake in FOX by 3.9% in the 4th quarter. Invesco Ltd. now owns 1,216,616 shares of the company’s stock worth $41,693,000 after acquiring an additional 45,370 shares in the last quarter. 23.96% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

Shares of FOX stock opened at $31.10 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.73 and a quick ratio of 3.36. The company has a market capitalization of $17.31 billion, a P/E ratio of 15.63 and a beta of 0.96. The company’s 50-day simple moving average is $30.96 and its two-hundred day simple moving average is $34.23. Fox Co. has a one year low of $28.96 and a one year high of $40.91.

FOX (NASDAQ:FOX – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.81 earnings per share (EPS) for the quarter. FOX had a net margin of 8.33% and a return on equity of 13.84%. The firm had revenue of $3.46 billion for the quarter.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research downgraded shares of FOX to a “peer perform” rating and dropped their target price for the stock from $52.00 to $39.00 in a research note on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.33.

FOX Profile

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Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through three segments: Cable Network Programming; Television; and Other, Corporate and Eliminations. 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 multi-channel video programming distributors.