3Chopt Investment Partners LLC Buys Shares of 10,323 Fox Co. (NASDAQ:FOXA)

3Chopt Investment Partners LLC acquired a new position in shares of Fox Co. (NASDAQ:FOXA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,323 shares of the company's stock, valued at approximately $501,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of FOX in the 4th quarter valued at about $132,161,000. Jupiter Asset Management Ltd. bought a new position in FOX during the fourth quarter valued at about $67,471,000. FMR LLC raised its stake in FOX by 240.2% in the 4th quarter. FMR LLC now owns 1,884,927 shares of the company's stock valued at $91,570,000 after acquiring an additional 1,330,908 shares during the period. Robeco Institutional Asset Management B.V. lifted 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 valued at $59,174,000 after purchasing an additional 919,883 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake 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 worth $43,016,000 after purchasing an additional 857,609 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

Insider Activity at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $3,083,860.00. Following the sale, 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. 21.77% of the stock is owned by corporate insiders.

FOX Trading Down 0.6 %

Shares of NASDAQ FOXA traded down $0.29 during trading hours on Friday, hitting $47.97. 3,921,573 shares of the company traded hands, compared to its average volume of 3,380,647. Fox Co. has a 12 month low of $30.39 and a 12 month high of $58.74. The stock has a market capitalization of $21.75 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. 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 company's 50 day moving average price is $53.62 and its 200 day moving average price is $49.03.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The company's revenue for the quarter was up 19.9% compared to the same quarter last year. On average, equities research analysts anticipate that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

The business 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 was Wednesday, March 5th. FOX's payout ratio is 11.56%.

Analysts Set New Price Targets

Several brokerages have commented on FOXA. Guggenheim restated a "buy" rating and issued a $60.00 target price on shares of FOX in a research note on Tuesday, March 25th. Moffett Nathanson cut shares of FOX from a "buy" rating to a "neutral" rating and increased their target price for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. Barclays reduced their price target on shares of FOX from $50.00 to $45.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Loop Capital lifted their price objective on FOX from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Finally, Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $50.65.

FOX 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.