Allianz Asset Management GmbH Increases Holdings in Fox Co. (NASDAQ:FOXA)

Allianz Asset Management GmbH increased its position in shares of Fox Co. (NASDAQ:FOXA) by 3,077.5% in the fourth quarter, HoldingsChannel reports. The firm owned 885,476 shares of the company’s stock after acquiring an additional 857,609 shares during the quarter. Allianz Asset Management GmbH’s holdings in FOX were worth $43,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in FOX during the 4th quarter valued at approximately $28,000. Brooklyn Investment Group raised its holdings in shares of FOX by 142.5% during the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after purchasing an additional 466 shares during the last quarter. Quest Partners LLC acquired a new position in FOX during the third quarter valued at $51,000. Quarry LP acquired a new position in FOX during the third quarter valued at $70,000. Finally, Versant Capital Management Inc boosted its holdings in FOX by 3,551.1% in the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after purchasing an additional 1,669 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, 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. Insiders own 21.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 price target on FOX and gave the company a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company upped their price objective on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Bank of America lifted their target price on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Morgan Stanley increased their price target on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.19.

FOX Price Performance

NASDAQ:FOXA opened at $56.95 on Friday. The stock has a 50 day moving average of $50.83 and a two-hundred day moving average of $45.51. Fox Co. has a 12 month low of $28.28 and a 12 month high of $58.12. The firm has a market cap of $25.82 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.76. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last issued 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. The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share. On average, analysts expect that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is 11.56%.

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.