Allianz Asset Management GmbH Buys 857,609 Shares of Fox Co. (NASDAQ:FOXA)

Allianz Asset Management GmbH boosted its stake in shares of Fox Co. (NASDAQ:FOXA) by 3,077.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 885,476 shares of the company’s stock after buying an additional 857,609 shares during the period. Allianz Asset Management GmbH owned approximately 0.19% of FOX worth $43,016,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Crossmark Global Holdings Inc. raised its stake in shares of FOX by 1.7% in the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after acquiring an additional 385 shares during the period. Ritholtz Wealth Management grew its holdings in FOX by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 10,104 shares of the company’s stock valued at $491,000 after purchasing an additional 399 shares during the last quarter. Kathmere Capital Management LLC raised its position in FOX by 9.0% in the 4th quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock worth $255,000 after purchasing an additional 431 shares during the period. Brooklyn Investment Group lifted its stake in FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after purchasing an additional 466 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. boosted its position in shares of FOX by 5.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 9,029 shares of the company’s stock valued at $439,000 after buying an additional 500 shares during the period. 52.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’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 in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

FOX Trading Down 0.7 %

FOXA opened at $56.95 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 $25.82 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.27 and a beta of 0.76. Fox Co. has a 12 month low of $28.28 and a 12 month high of $58.12. The stock has a fifty day moving average price of $50.83 and a 200-day moving average price of $45.51.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates 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 company posted $0.34 earnings per share. The firm’s revenue was up 19.9% on a year-over-year basis. As a group, equities research analysts anticipate that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Morgan Stanley increased their target price on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Loop Capital boosted their target price on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. UBS Group upped their price target on shares of FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, TD Cowen lifted their price objective on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $51.19.

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.