DoubleLine ETF Adviser LP Trims Stake in Fox Co. (NASDAQ:FOXA)

DoubleLine ETF Adviser LP reduced its position in Fox Co. (NASDAQ:FOXA - Free Report) by 13.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,639 shares of the company's stock after selling 5,413 shares during the quarter. DoubleLine ETF Adviser LP's holdings in FOX were worth $1,683,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in FOX in the fourth quarter worth approximately $49,000. Caisse DE Depot ET Placement DU Quebec grew its position in FOX by 131.8% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 467,250 shares of the company's stock worth $22,699,000 after acquiring an additional 265,714 shares during the last quarter. Freestone Grove Partners LP bought a new stake in FOX in the fourth quarter valued at approximately $2,024,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of FOX by 357.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 174,264 shares of the company's stock valued at $8,466,000 after purchasing an additional 136,186 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of FOX by 107.1% in the fourth quarter. AQR Capital Management LLC now owns 704,612 shares of the company's stock worth $34,230,000 after buying an additional 364,463 shares during the period. Institutional investors own 52.52% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm's stock in a transaction on 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 directly owns 1,200,862 shares of the company's stock, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The transaction 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 business's stock in a transaction on Wednesday, February 5th. The stock was 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 approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Moffett Nathanson lowered shares of FOX from a "buy" rating to a "neutral" rating and increased their target price for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. UBS Group reduced their price objective 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. Guggenheim reissued a "buy" rating and issued a $60.00 price target on shares of FOX in a research note on Tuesday, March 25th. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Finally, Wells Fargo & Company decreased their price objective on FOX from $63.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $50.65.

FOX Stock Performance

Shares of FOXA traded up $0.25 during mid-day trading on Friday, hitting $49.47. 3,737,348 shares of the company traded hands, compared to its average volume of 3,412,326. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. Fox Co. has a 1 year low of $31.71 and a 1 year high of $58.74. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 1.27 and a beta of 0.51. The stock has a 50-day moving average price of $52.03 and a two-hundred day moving average price of $49.67.

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

FOX Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 5th. This represents a dividend yield of 1%. FOX's dividend payout ratio (DPR) is presently 11.56%.

About FOX

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.