Ardmore Road Asset Management LP Invests $14.57 Million in Fox Co. (NASDAQ:FOXA)

Ardmore Road Asset Management LP purchased a new stake in Fox Co. (NASDAQ:FOXA) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 300,000 shares of the company’s stock, valued at approximately $14,574,000. FOX accounts for about 2.1% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 21st largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI increased its holdings in shares of FOX by 19.6% during the 4th quarter. National Bank of Canada FI now owns 59,716 shares of the company’s stock worth $2,901,000 after buying an additional 9,804 shares during the last quarter. Franklin Resources Inc. increased its stake in FOX by 164.8% during the fourth quarter. Franklin Resources Inc. now owns 469,547 shares of the company’s stock worth $22,811,000 after acquiring an additional 292,205 shares during the last quarter. Brandywine Global Investment Management LLC raised its position in FOX by 3.0% in the fourth quarter. Brandywine Global Investment Management LLC now owns 471,271 shares of the company’s stock valued at $22,894,000 after purchasing an additional 13,642 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after purchasing an additional 368 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of FOX by 240.9% during the 4th quarter. Schroder Investment Management Group now owns 243,061 shares of the company’s stock worth $11,871,000 after purchasing an additional 171,763 shares during the period. 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 58,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the transaction, the chairman now 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 completion of 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. Insiders own 21.77% of the company’s stock.

FOX Price Performance

Shares of NASDAQ FOXA opened at $55.82 on Wednesday. The stock’s 50-day simple moving average is $54.02 and its 200-day simple moving average is $48.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The firm has a market capitalization of $25.31 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. Fox Co. has a fifty-two week low of $30.02 and a fifty-two week high of $58.74.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate 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 net margin of 14.39% and a return on equity of 18.50%. The company’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, equities research analysts forecast that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were issued 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 payout ratio is 11.56%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FOXA. Wells Fargo & Company reduced their price objective on shares of FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. The Goldman Sachs Group set a $60.00 price objective on shares of FOX and gave the stock a “buy” rating in a report on Tuesday, February 4th. Barclays lifted their target price on shares of FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Bank of America upped their price target on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, FOX has an average rating of “Hold” and a consensus price target of $51.56.

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.