Russell Investments Group Ltd. Lowers Stock Holdings in Fox Co. (NASDAQ:FOXA)

Russell Investments Group Ltd. lowered its position in shares of Fox Co. (NASDAQ:FOXA) by 41.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 368,068 shares of the company’s stock after selling 262,926 shares during the period. Russell Investments Group Ltd.’s holdings in FOX were worth $17,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FOXA. Dynamic Technology Lab Private Ltd bought a new stake in FOX in the 4th quarter worth approximately $608,000. Resona Asset Management Co. Ltd. bought a new stake in shares of FOX in the 4th quarter worth approximately $3,372,000. Prudential PLC boosted its stake in shares of FOX by 27.0% in the 4th quarter. Prudential PLC now owns 56,146 shares of the company’s stock valued at $2,728,000 after purchasing an additional 11,952 shares in the last quarter. Foundry Partners LLC grew its holdings in shares of FOX by 11.8% during the 4th quarter. Foundry Partners LLC now owns 382,666 shares of the company’s stock valued at $18,590,000 after purchasing an additional 40,311 shares during the last quarter. Finally, Westpac Banking Corp raised its position in FOX by 2.2% in the 4th quarter. Westpac Banking Corp now owns 105,120 shares of the company’s stock worth $5,107,000 after purchasing an additional 2,270 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at FOX

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 directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

FOX Trading Up 8.6 %

FOXA opened at $51.51 on Thursday. The stock has a market cap of $23.36 billion, a PE ratio of 11.03, a PEG ratio of 1.27 and a beta of 0.51. The business has a 50 day moving average of $54.15 and a 200-day moving average of $48.79. Fox Co. has a 52 week low of $30.02 and a 52 week high of $58.74. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

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 analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. FOX’s revenue was up 19.9% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. Equities research analysts predict that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FOXA shares. JPMorgan Chase & Co. raised 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. UBS Group raised their price target on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Barclays lowered their price objective on FOX from $50.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday. Wells Fargo & Company decreased their target price on shares of FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group set a $60.00 price target on shares of FOX and gave the company a “buy” rating in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.06.

About FOX

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.