Summit Trail Advisors LLC Invests $499,000 in Fox Co. (NASDAQ:FOXA)

Summit Trail Advisors LLC acquired a new stake in Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,275 shares of the company’s stock, valued at approximately $499,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of FOX by 44,205.3% during the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after purchasing an additional 7,897,710 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of FOX by 228.4% during 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 buying an additional 964,737 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of FOX by 308.5% during 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 buying an additional 919,883 shares during the period. KBC Group NV lifted its holdings in shares of FOX by 56.1% in the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock worth $115,022,000 after buying an additional 851,127 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its position in shares of FOX by 244.0% in the third quarter. Glenmede Trust Co. NA now owns 389,470 shares of the company’s stock valued at $16,486,000 after acquiring an additional 276,259 shares during the period. 52.52% of the stock is currently owned by institutional investors.

FOX Trading Up 0.3 %

Shares of FOXA opened at $53.39 on Wednesday. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $55.56. The firm has a market cap of $24.39 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.17 and a beta of 0.76. The firm has a 50 day moving average price of $49.16 and a 200-day moving average price of $44.41. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.50.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. As a group, equities research analysts forecast that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

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

Analyst Ratings Changes

Several research firms have issued reports on FOXA. Guggenheim increased their target price on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Bank of America upped their price target on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barclays upped their target price on FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and lifted their price target for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.19.

Insider Transactions at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

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.