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

Geode Capital Management LLC lessened its holdings in shares of Fox Co. (NASDAQ:FOXA) by 0.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,595,502 shares of the company’s stock after selling 35,164 shares during the period. Geode Capital Management LLC owned 1.44% of FOX worth $319,965,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FOXA. WealthTrak Capital Management LLC purchased a new stake in shares of FOX during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its position in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after acquiring an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in FOX in the fourth quarter valued at $28,000. Jones Financial Companies Lllp boosted its stake in FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after acquiring an additional 249 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew 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 worth $33,000 after purchasing an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Price Performance

FOX stock opened at $49.73 on Friday. The company has a market cap of $22.55 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. Fox Co. has a one year low of $30.02 and a one year high of $58.74. The business has a fifty day moving average of $54.27 and a two-hundred day moving average of $48.49. 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 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 firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, analysts predict that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently declared a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were issued 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 currently 11.56%.

Insider Activity at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. This 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 currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FOXA shares. The Goldman Sachs Group set a $60.00 target price on FOX and gave the company a “buy” rating in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their price objective on FOX from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. JPMorgan Chase & Co. lifted their target price on shares of FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Bank of America increased their price target on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Citigroup lifted their price objective on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, FOX has a consensus rating of “Hold” and a consensus price target of $51.56.

About FOX

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.