As of the most recent filing with the Securities and Exchange Commission (SEC) on May 29, 2023, Vanguard Personalized Indexing Management LLC has cut its stake in shares of Fox Co. (NASDAQ:FOXA) by 28.8%. The investment firm now owns only 11,523 shares of FOX after selling 4,651 shares during the last quarter. Despite the substantial reduction in holdings, the remaining shares still represent significant value to Vanguard Personalized Indexing Management LLC, worth $350,000 as of the same filing.
The cut in stake seems to have come swiftly after FOX released its earnings results on May 9th. According to the financial report, FOX reported earnings per share of $0.94 for the quarterly period, exceeding analysts’ consensus estimates by $0.06 per share. The business had a remarkable return on equity of 16.36% and a net margin of 7.84%, indicating profitable growth potential within their operation.
Revenue generated from this quarter surprised investors positively as well; FOX managed to make sales worth $4.08 billion compared to analyst estimates of $4.03 billion – an impressive feat all in all. Year over year, there was an increase in revenue by a whopping 18.2% compared to the same period last year where reported earnings per share was $0.81.
Despite these impressive numbers and soaring revenue figures for Q1 annually, there is still speculation as to why Vanguard Personalized Indexing Management LLC decided to cut their holdings significantly without any evidence apparent from SEC filings that specify their motives behind such maneuvers.
Sell-side analysts continue to anticipate even better returns from Fox Co., projecting that there will be a posting of approximately $3.37 per share for this fiscal year alone based on current market trends and other economic indicators.
In summary, while Fox Co.’s impressive revenue gains over Q1 FY23 led reputable investors to increase their stakes in the company, Vanguard Personalized Indexing Management LLC appears to have taken a different course of action, setting themselves apart from other top-ranking investment firms. It remains to be seen what impact this will have on their future market position and overall performance moving forward.
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Institutional Investors Show Interest in Fox Co. with Significant Stake Purchases in Q4 2022
Institutional investors are always on the lookout for promising companies to invest in. Recently, several institutional investors have bought and sold stakes in Fox Co. (NASDAQ:FOXA). New Hampshire Trust, FDx Advisors Inc., Bank of Nova Scotia, Great Lakes Advisors LLC, and Mirae Asset Global Investments Co. Ltd. all made significant moves during the fourth quarter of 2022.
New Hampshire Trust purchased a new stake in FOX valued at roughly $170,000. Meanwhile, FDx Advisors Inc.’s holdings increased by 398%, with an additional purchase of 42,557 shares worth $1,617,000 during the same period. Bank of Nova Scotia also lifted its holdings by 39.6%, adding an estimated value of $1,085,000 to their portfolio with the acquisition of 10,136 shares.
Great Lakes Advisors got involved too! They purchased a new stake totaling approximately $502,000 during the final quarter of last year. Finally, Mirae Asset Global Investments Co. Ltd.’s ownership increased by 91.5%. The company’s current portfolio now boasts over $2 million worth of FOXA shares after buying an additional 32,612 shares.
As it stands currently, hedge funds and other institutional investors own about 55% of FOXA’s outstanding stock – which is certainly another source of attraction for those looking into investing with the firm.
Earlier this week on Monday (May 29th), NASDAQ:FOXA opened at $31.40 per share which will undoubtedly keep these investors happy as this represents good value compared to some fluctuations over the past year – fluctuating from its yearly low point ($28.01) but not surpassing its high ($37.26).
Despite recent trends in Fox Co., analysts are still bullish about investing in this media giant as it has a market capitalization size worth $15 billion along with a PE ratio resting at 14.74. In addition, the company’s beta rating sits at a low 0.85 which surely gives investors even more confidence in their decisions. For Fox Co., it is looking optimistic with bright prospects for its future growth and continued influence as a media powerhouse.
