915,433 Shares in Fox Corporation $FOXA Bought by PFA Pension Forsikringsaktieselskab

Key Points

• PFA Pension bought a new position of 915,433 shares of Fox Corporation (FOXA) in Q4, valued at about $67.47 million and representing roughly 0.21% of the company.
• Corporate insiders sold heavily last quarter — CEO Lachlan K. Murdoch sold 637,752 shares for $37.12 million (leaving him with 152 shares), COO John Nallen sold 216,806 shares, and insiders disposed of 1,586,871 shares totaling about $91.9 million.
• Fox reported an earnings beat with $0.82 EPS vs. $0.47 expected and $5.18 billion revenue vs. $5.02 billion expected, and paid a $0.28 dividend on March 25.

PFA Pension Forsikringsaktieselskab purchased a new position in Fox Corporation (NASDAQ:FOXA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 915,433 shares of the company's stock, valued at approximately $67,467,000. PFA Pension Forsikringsaktieselskab owned 0.21% of FOX at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FOXA. Torren Management LLC purchased a new stake in shares of FOX in the fourth quarter valued at about $55,000. Private Trust Co. NA grew its position in FOX by 35.6% during the fourth quarter. Private Trust Co. NA now owns 712 shares of the company's stock valued at $52,000 after buying an additional 187 shares during the period. Farther Finance Advisors LLC lifted its holdings in FOX by 85.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,100 shares of the company's stock valued at $153,000 after purchasing an additional 967 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in FOX by 3.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 572,145 shares of the company's stock valued at $41,807,000 after purchasing an additional 16,716 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in FOX by 3.5% during the fourth quarter. Venturi Wealth Management LLC now owns 6,916 shares of the company's stock valued at $505,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Activity at FOX

In other FOX news, CEO Lachlan K. Murdoch sold 637,752 shares of the company's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the transaction, the chief executive officer owned 152 shares of the company's stock, valued at $8,846.40. This represents a 99.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John Nallen sold 216,806 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $57.68, for a total value of $12,505,370.08. Following the transaction, the chief operating officer directly owned 362,206 shares of the company's stock, valued at $20,892,042.08. The trade was a 37.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,586,871 shares of company stock valued at $91,893,926 in the last quarter. Corporate insiders own 19.68% of the company's stock.

FOX Trading Down 0.2%

Shares of FOXA stock opened at $63.35 on Friday. The company has a quick ratio of 2.44, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $59.78 and a two-hundred day moving average price of $64.64. Fox Corporation has a 12-month low of $47.66 and a 12-month high of $76.39. The firm has a market cap of $26.95 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 7.80 and a beta of 0.52.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.35. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.02 billion. FOX had a return on equity of 18.14% and a net margin of 11.41%.FOX's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. Equities analysts anticipate that Fox Corporation will post 4.6 EPS for the current fiscal year.

FOX Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were given a $0.28 dividend. The ex-dividend date was Wednesday, March 4th. This represents a yield of 83.0%. FOX's payout ratio is presently 13.46%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FOXA. The Goldman Sachs Group reiterated a "buy" rating and set a $80.00 price target on shares of FOX in a research report on Wednesday, February 4th. TD Cowen boosted their price objective on FOX from $55.00 to $65.00 and gave the stock a "hold" rating in a report on Thursday, February 5th. UBS Group set a $64.00 price objective on FOX in a report on Tuesday, February 24th. Barclays cut their price objective on FOX from $64.00 to $63.00 and set an "equal weight" rating for the company in a report on Thursday, February 5th. Finally, Zacks Research lowered FOX from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, FOX presently has a consensus rating of "Hold" and a consensus target price of $72.93.

About FOX

Fox Corporation NASDAQ: FOXA is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp's operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.

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