Renaissance Technologies LLC Decreases Holdings in Fox Co. (NASDAQ:FOXA)

Renaissance Technologies LLC reduced its position in Fox Co. (NASDAQ:FOXA) by 31.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,800 shares of the company’s stock after selling 109,500 shares during the period. Renaissance Technologies LLC’s holdings in FOX were worth $11,747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FOXA. CIBC Private Wealth Group LLC increased its position in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after buying an additional 368 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in FOX by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock valued at $47,649,000 after acquiring an additional 110,753 shares in the last quarter. Invst LLC acquired a new position in FOX during the third quarter worth about $740,000. Asset Management One Co. Ltd. grew its position in shares of FOX by 25.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock valued at $5,856,000 after purchasing an additional 23,704 shares during the last quarter. Finally, Park Avenue Securities LLC increased its stake in shares of FOX by 32.4% during the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after purchasing an additional 3,787 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FOXA shares. Cfra Research upgraded FOX from a “hold” rating to a “moderate buy” rating in a report on Monday, April 7th. JPMorgan Chase & Co. increased 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. StockNews.com downgraded shares of FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Bank of America raised their price target on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Citigroup boosted their price objective on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $50.94.

FOX Stock Performance

Shares of NASDAQ:FOXA opened at $50.06 on Wednesday. The firm has a market capitalization of $22.70 billion, a PE ratio of 10.72, a P/E/G ratio of 1.27 and a beta of 0.51. Fox Co. has a 12 month low of $30.08 and a 12 month 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 business has a 50-day moving average of $53.82 and a two-hundred day moving average of $48.99.

FOX (NASDAQ:FOXA) last announced 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 firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. As a group, research analysts forecast that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

The firm also recently announced 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 payout ratio is 11.56%.

Insider Buying and Selling at FOX

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 value of $3,083,860.00. Following the completion of the transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, 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 position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

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.