Fmr LLC Increases Stock Holdings in Fox Co. (NASDAQ:FOXA)

FMR LLC lifted its holdings in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 240.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,884,927 shares of the company's stock after acquiring an additional 1,330,908 shares during the period. FMR LLC owned 0.41% of FOX worth $91,570,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its position in shares of FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after buying an additional 368 shares during the last quarter. JPMorgan Chase & Co. raised its stake in FOX by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company's stock worth $47,649,000 after acquiring an additional 110,753 shares in the last quarter. Invst LLC purchased a new stake in FOX in the third quarter valued at $740,000. Asset Management One Co. Ltd. boosted its stake in FOX by 25.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company's stock valued at $5,856,000 after acquiring an additional 23,704 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of FOX by 32.4% during the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company's stock worth $752,000 after purchasing an additional 3,787 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Price Performance

FOXA traded down $0.76 on Monday, hitting $47.21. 3,836,856 shares of the company were exchanged, compared to its average volume of 3,391,653. Fox Co. has a fifty-two week low of $30.92 and a fifty-two week high of $58.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The firm has a market capitalization of $21.41 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. The business's fifty day moving average is $53.36 and its 200 day moving average is $49.20.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the company earned $0.34 EPS. The company's quarterly revenue was up 19.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

The company also recently declared a semi-annual dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX's dividend payout ratio is currently 11.56%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FOXA. Guggenheim reissued a "buy" rating and issued a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Loop Capital increased their price objective on FOX from $60.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. UBS Group lowered their target price on shares of FOX from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Moffett Nathanson downgraded shares of FOX from a "buy" rating to a "neutral" rating and upped their price target for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group set a $60.00 price objective on shares of FOX and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, FOX currently has a consensus rating of "Hold" and an average price target of $50.65.

Insider Transactions at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company's stock.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.