South Dakota Investment Council trimmed its stake in Fox Co. (NASDAQ:FOXA – Free Report) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 304,259 shares of the company’s stock after selling 11,550 shares during the quarter. South Dakota Investment Council’s holdings in FOX were worth $14,781,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Pacer Advisors Inc. grew its position in FOX by 5.4% in the fourth quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock valued at $405,194,000 after acquiring an additional 425,186 shares during the period. KBC Group NV grew its position in FOX by 56.1% in the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock valued at $115,022,000 after acquiring an additional 851,127 shares during the period. Jacobs Levy Equity Management Inc. grew its position in FOX by 228.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after acquiring an additional 964,737 shares during the period. Robeco Institutional Asset Management B.V. grew its position in FOX by 308.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock valued at $59,174,000 after acquiring an additional 919,883 shares during the period. Finally, JPMorgan Chase & Co. grew its position in FOX by 10.9% in the third 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 during the period. 52.52% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have weighed in on FOXA shares. The Goldman Sachs Group set a $60.00 price target on FOX and gave the company a “buy” rating in a research report on Tuesday, February 4th. Evercore ISI upgraded FOX to a “hold” rating in a report on Tuesday, November 5th. Barclays increased their target price on FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com cut FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Citigroup increased their target price on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $51.19.
FOX Price Performance
FOX stock opened at $56.95 on Friday. Fox Co. has a 12-month low of $28.28 and a 12-month high of $58.12. The business’s 50-day simple moving average is $50.83 and its 200 day simple moving average is $45.51. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 1.27 and a beta of 0.76.
FOX (NASDAQ:FOXA – Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, research analysts anticipate that Fox Co. will post 4.38 earnings per share for the current year.
FOX Announces Dividend
The business also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a yield of 1%. The ex-dividend date of this dividend is 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 186,871 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the sale, the insider now directly owns 29,897 shares in the company, 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 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.
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