3Chopt Investment Partners LLC Makes New $501,000 Investment in Fox Co. (NASDAQ:FOXA)

3Chopt Investment Partners LLC acquired a new stake in Fox Co. (NASDAQ:FOXA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,323 shares of the company’s stock, valued at approximately $501,000.

Several other hedge funds and other institutional investors have also modified their holdings of FOXA. Nomura Asset Management Co. Ltd. boosted its holdings in FOX by 0.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,082 shares of the company’s stock valued at $2,924,000 after purchasing an additional 590 shares during the period. M&T Bank Corp raised its position in shares of FOX by 7.4% during the third quarter. M&T Bank Corp now owns 14,645 shares of the company’s stock valued at $620,000 after buying an additional 1,010 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of FOX by 11.8% in the third quarter. Toronto Dominion Bank now owns 76,077 shares of the company’s stock valued at $3,220,000 after buying an additional 8,040 shares during the period. Invst LLC acquired a new stake in FOX during the third quarter worth about $740,000. Finally, World Investment Advisors LLC bought a new position in FOX during the third quarter valued at about $3,587,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Citigroup raised their target price on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Guggenheim reiterated a “buy” rating and set a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and increased their price target for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Wells Fargo & Company lowered their price objective on FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Finally, UBS Group increased their target price on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, FOX presently has an average rating of “Hold” and a consensus price target of $51.06.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX 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 sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade 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 insiders.

FOX Stock Down 1.3 %

NASDAQ:FOXA opened at $48.89 on Friday. The stock’s fifty day moving average price is $53.98 and its two-hundred day moving average price is $48.89. The company has a market cap of $22.17 billion, a price-to-earnings ratio of 10.47, a P/E/G ratio of 1.27 and a beta of 0.51. Fox Co. has a 52-week low of $30.02 and a 52-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.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

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

FOX 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.