Bridgewater Associates LP Sells 116,425 Shares of Fox Co. (NASDAQ:FOXA)

Bridgewater Associates LP lessened its stake in Fox Co. (NASDAQ:FOXA) by 21.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 429,230 shares of the company’s stock after selling 116,425 shares during the quarter. Bridgewater Associates LP’s holdings in FOX were worth $20,852,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Aware Super Pty Ltd as trustee of Aware Super bought a new position in FOX during the 4th quarter worth about $5,236,000. Canada Post Corp Registered Pension Plan bought a new position in shares of FOX during the fourth quarter worth about $134,000. XTX Topco Ltd acquired a new stake in FOX in the 4th quarter valued at approximately $1,136,000. CreativeOne Wealth LLC lifted its stake in FOX by 8.6% in the 4th quarter. CreativeOne Wealth LLC now owns 22,717 shares of the company’s stock valued at $1,104,000 after acquiring an additional 1,803 shares in the last quarter. Finally, Mariner LLC boosted its position in FOX by 26.5% during the 4th quarter. Mariner LLC now owns 32,545 shares of the company’s stock worth $1,581,000 after acquiring an additional 6,814 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on FOXA shares. Barclays cut their price objective on shares of FOX from $50.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on shares of FOX from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. JPMorgan Chase & Co. upped their target price on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Wolfe Research cut FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price objective on the stock. in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.94.

Insider Buying and Selling

In related news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction 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. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61 % 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 Stock Performance

Shares of NASDAQ FOXA opened at $50.06 on Wednesday. Fox Co. has a one year low of $30.08 and a one year high of $58.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The firm has a market cap of $22.70 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 1.27 and a beta of 0.51. The stock’s fifty day moving average price is $53.82 and its two-hundred day moving average price is $48.99.

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

FOX Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were paid a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date was Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is currently 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.