Fox Co. (NASDAQ:FOXA) Shares Sold by Heron Bay Capital Management

Heron Bay Capital Management lessened its stake in shares of Fox Co. (NASDAQ:FOXA) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 310,849 shares of the company’s stock after selling 40,336 shares during the quarter. FOX comprises about 3.2% of Heron Bay Capital Management’s investment portfolio, making the stock its 12th biggest position. Heron Bay Capital Management’s holdings in FOX were worth $15,101,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 110,753 shares during the last quarter. Invst LLC acquired a new position in FOX in the 3rd quarter valued at $740,000. Asset Management One Co. Ltd. lifted its stake in shares of FOX by 25.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock worth $5,856,000 after purchasing an additional 23,704 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of FOX by 32.4% during the fourth 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 during the last quarter. Finally, Brookstone Capital Management purchased a new stake in shares of FOX in the fourth quarter valued at $492,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Activity

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’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 value of $3,083,860.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction that occurred on 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 directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. The trade was 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

FOXA stock opened at $53.40 on Friday. The stock has a 50-day simple moving average of $53.06 and a 200-day simple moving average of $47.54. The firm has a market cap of $24.21 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. Fox Co. has a 1 year low of $30.02 and a 1 year high of $58.74.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data 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 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%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. On average, equities analysts predict that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a yield of 1%. FOX’s payout ratio is currently 11.56%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FOXA shares. UBS Group increased their target price on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. StockNews.com lowered shares of FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Citigroup boosted their target price on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and increased their price target for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. Finally, Guggenheim lifted their price target on shares of FOX from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, FOX has an average rating of “Hold” and an average target price of $51.19.

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.