Proficio Capital Partners LLC Purchases Shares of 159,871 Fox Co. (NASDAQ:FOXA)

Proficio Capital Partners LLC bought a new position in shares of Fox Co. (NASDAQ:FOXA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 159,871 shares of the company’s stock, valued at approximately $7,767,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in FOX during the 4th quarter valued at about $28,000. Brooklyn Investment Group raised its stake in shares of FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after purchasing an additional 466 shares during the period. Quest Partners LLC acquired a new position in FOX during the 3rd quarter worth approximately $51,000. Quarry LP bought a new position in FOX in the third quarter valued at $70,000. Finally, Versant Capital Management Inc increased its position in shares of 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 acquiring an additional 1,669 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FOXA shares. TD Cowen boosted their target price on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Macquarie reaffirmed a “neutral” rating and issued a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. UBS Group raised their target price on shares of FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup raised their target price on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, FOX currently has an average rating of “Hold” and an average target price of $51.19.

FOX Stock Performance

FOX stock opened at $57.60 on Monday. The company has a market capitalization of $26.12 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.27 and a beta of 0.76. The business has a 50 day moving average of $51.67 and a 200-day moving average of $46.19. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. Fox Co. has a 1 year low of $28.28 and a 1 year high of $58.38.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. On average, equities research analysts predict that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

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

Insider Activity

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

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.