Fox Co. (NASDAQ:FOXA) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in Fox Co. (NASDAQ:FOXA) by 40.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,711 shares of the company’s stock after buying an additional 48,586 shares during the quarter. Intech Investment Management LLC’s holdings in FOX were worth $8,147,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FOXA. Pacer Advisors Inc. lifted its stake in FOX by 44,205.3% during the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after acquiring an additional 7,897,710 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of FOX during the fourth quarter worth about $67,471,000. Jacobs Levy Equity Management Inc. lifted 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 worth $58,716,000 after purchasing an additional 964,737 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of FOX by 308.5% in 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 purchasing an additional 919,883 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in shares of FOX by 3,077.5% in the fourth quarter. Allianz Asset Management GmbH now owns 885,476 shares of the company’s stock valued at $43,016,000 after purchasing an additional 857,609 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

NASDAQ FOXA opened at $52.38 on Wednesday. The company has a fifty day moving average of $52.79 and a two-hundred day moving average of $47.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. Fox Co. has a 1 year low of $29.53 and a 1 year high of $58.74. The company has a market capitalization of $23.75 billion, a PE ratio of 11.22, a P/E/G ratio of 1.27 and a beta of 0.67.

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 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 firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the business posted $0.34 EPS. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. As a group, analysts expect that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

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

Analysts Set New Price Targets

FOXA has been the subject of several recent research reports. Bank of America raised their price target on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. UBS Group lifted their target price on FOX from $50.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, February 13th. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. The Goldman Sachs Group set a $60.00 price objective on FOX and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, Citigroup upped their target price on shares of FOX from $50.00 to $58.00 and gave the stock 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.19.

Insider Activity at FOX

In other news, 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 value of $69,178.14. Following the transaction, the insider now owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value 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 position. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

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.