Fox Co. (NASDAQ:FOXA) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its holdings in shares of Fox Co. (NASDAQ:FOXA) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,378 shares of the company’s stock after selling 570 shares during the period. Los Angeles Capital Management LLC’s holdings in FOX were worth $456,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. raised 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 worth $405,194,000 after acquiring an additional 425,186 shares in the last quarter. KBC Group NV increased its holdings in shares of FOX by 56.1% in the 4th quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock valued at $115,022,000 after purchasing an additional 851,127 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of 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 purchasing an additional 964,737 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in 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 worth $59,174,000 after buying an additional 919,883 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in FOX by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after buying an additional 110,753 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FOXA shares. Moffett Nathanson downgraded shares of 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. Evercore ISI raised FOX to a “hold” rating in a report on Tuesday, November 5th. Wells Fargo & Company boosted their target price on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Macquarie restated a “neutral” rating and issued a $43.00 price target on shares of FOX in a research report on Tuesday, November 5th. Finally, UBS Group boosted their price objective on shares of FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $51.19.

FOX Stock Down 1.0 %

FOXA stock opened at $57.03 on Tuesday. Fox Co. has a one year low of $28.28 and a one year high of $58.74. The stock has a market capitalization of $25.86 billion, a P/E ratio of 12.21, a PEG ratio of 1.27 and a beta of 0.76. The company has a 50 day moving average price of $51.82 and a two-hundred day moving average price of $46.32. 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 (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. As a group, sell-side analysts expect that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

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

Insider Buying and Selling

In other news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 in the company, valued at $63,849,832.54. The trade was a 4.61 % decrease in their position. 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.