Avantax Advisory Services Inc. Purchases New Shares in Fox Co. (NASDAQ:FOXA)

Avantax Advisory Services Inc. purchased a new position in Fox Co. (NASDAQ:FOXA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,582 shares of the company's stock, valued at approximately $320,000.

Several other hedge funds also recently made changes to their positions in the stock. Quest Partners LLC purchased a new position in FOX during the third quarter valued at approximately $51,000. Commerce Bank purchased a new position in shares of FOX during the 3rd quarter valued at $301,000. Citigroup Inc. increased its holdings in shares of FOX by 35.3% in the third quarter. Citigroup Inc. now owns 593,104 shares of the company's stock worth $25,106,000 after purchasing an additional 154,680 shares during the period. Cerity Partners LLC raised its position in shares of FOX by 98.3% in the third quarter. Cerity Partners LLC now owns 34,198 shares of the company's stock worth $1,448,000 after buying an additional 16,950 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in FOX by 5.1% during the third quarter. Daiwa Securities Group Inc. now owns 31,172 shares of the company's stock valued at $1,320,000 after buying an additional 1,502 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares in the company, 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 company insiders.

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FOX Trading Down 0.3 %

Shares of NASDAQ:FOXA traded down $0.19 during trading on Friday, reaching $54.73. 3,149,344 shares of the company traded hands, compared to its average volume of 3,259,979. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. Fox Co. has a 52-week low of $30.02 and a 52-week high of $58.74. The firm has a market capitalization of $24.82 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.27 and a beta of 0.67. The business's fifty day moving average is $53.69 and its 200-day moving average is $48.03.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share 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 business had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter in the prior year, the company posted $0.34 EPS. The firm's revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, analysts forecast that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a dividend yield of 1%. FOX's payout ratio is presently 11.56%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Loop Capital upped their target price on FOX from $48.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Bank of America upped their price objective on shares of FOX from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Barclays lifted their target price on shares of FOX from $39.00 to $50.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 price target on shares of FOX and gave the stock a "buy" rating in a report on Tuesday, February 4th. Finally, Moffett Nathanson downgraded shares of FOX from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $51.13.

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.