41,667 Shares in Fox Co. (NASDAQ:FOXA) Acquired by Freestone Grove Partners LP

Freestone Grove Partners LP purchased a new stake in Fox Co. (NASDAQ:FOXA) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 41,667 shares of the company’s stock, valued at approximately $2,024,000.

A number of other institutional investors and hedge funds also recently modified their holdings of FOXA. CIBC Private Wealth Group LLC lifted its holdings in shares of FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after purchasing an additional 368 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in FOX by 10.9% during the 3rd 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. Asset Management One Co. Ltd. lifted its stake in FOX by 25.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock valued at $5,856,000 after buying an additional 23,704 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of FOX by 32.4% in the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after buying an additional 3,787 shares during the period. Finally, Brookstone Capital Management purchased a new position in shares of FOX in the fourth quarter worth approximately $492,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Transactions at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were 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 of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on FOXA. Wells Fargo & Company reduced their price target on shares of FOX from $63.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. UBS Group decreased their target price on FOX from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. 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 report on Tuesday, January 21st. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. Finally, JPMorgan Chase & Co. lifted their target price on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $50.65.

FOX Stock Up 0.5 %

FOXA stock opened at $49.47 on Friday. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The firm has a market cap of $22.43 billion, a PE ratio of 10.59, a PEG ratio of 1.27 and a beta of 0.51. Fox Co. has a 1 year low of $31.71 and a 1 year high of $58.74. The company has a fifty day simple moving average of $52.03 and a 200 day simple moving average of $49.57.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company posted $0.34 EPS. The firm’s revenue was up 19.9% on a year-over-year basis. Sell-side analysts anticipate that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

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

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.