State of Tennessee Department of Treasury Boosts Stake in Fox Co. (NASDAQ:FOXA)

State of Tennessee Department of Treasury lifted its stake in Fox Co. (NASDAQ:FOXA - Free Report) by 46.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,099 shares of the company's stock after acquiring an additional 43,829 shares during the period. State of Tennessee Department of Treasury's holdings in FOX were worth $6,757,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its holdings in shares of FOX by 5.4% in the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company's stock valued at $405,194,000 after buying an additional 425,186 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in FOX by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company's stock valued at $185,344,000 after acquiring an additional 39,959 shares during the last quarter. Norges Bank acquired a new stake in FOX in the fourth quarter valued at approximately $132,161,000. Amundi increased its position in shares of FOX by 9.9% during the fourth quarter. Amundi now owns 2,434,443 shares of the company's stock worth $119,006,000 after purchasing an additional 219,380 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of FOX by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,417,818 shares of the company's stock valued at $117,458,000 after purchasing an additional 37,505 shares during the last quarter. Institutional investors own 52.52% of the company's stock.

FOX Stock Performance

Shares of NASDAQ FOXA traded down $0.36 during midday trading on Wednesday, reaching $49.27. 504,211 shares of the stock were exchanged, compared to its average volume of 3,385,827. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a market cap of $22.34 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 1.27 and a beta of 0.51. The firm has a 50-day simple moving average of $52.49 and a two-hundred day simple moving average of $49.46. Fox Co. has a twelve month low of $30.92 and a twelve month high of $58.74.

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

FOX Dividend Announcement

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

Insider Activity

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

Analyst Upgrades and Downgrades

FOXA has been the topic of several research analyst reports. UBS Group dropped their target price on FOX from $63.00 to $61.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company decreased their price objective on shares of FOX from $63.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. boosted their target price on shares of FOX from $49.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Cfra Research raised shares of FOX from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Finally, Guggenheim reiterated a "buy" rating and set a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $50.65.

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.