Fox Co. (NASDAQ:FOXA) Shares Sold by abrdn plc

abrdn plc lessened its position in Fox Co. (NASDAQ:FOXA - Free Report) by 16.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,595 shares of the company's stock after selling 10,824 shares during the quarter. abrdn plc's holdings in FOX were worth $2,761,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FOXA. Crossmark Global Holdings Inc. grew its stake in shares of FOX by 1.7% during the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company's stock valued at $991,000 after buying an additional 385 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of FOX by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 10,104 shares of the company's stock worth $491,000 after purchasing an additional 399 shares during the last quarter. Kathmere Capital Management LLC boosted its stake in shares of FOX by 9.0% during the fourth quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company's stock valued at $255,000 after purchasing an additional 431 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of FOX by 1.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company's stock worth $1,249,000 after purchasing an additional 451 shares during the last quarter. Finally, Brooklyn Investment Group increased its stake in FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company's stock worth $39,000 after buying an additional 466 shares during the period. 52.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FOXA. StockNews.com downgraded shares of FOX from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. TD Cowen increased their price objective on FOX from $36.00 to $42.00 and gave the stock a "hold" rating in a research note on Tuesday, November 5th. Bank of America lifted their target price on FOX from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Loop Capital increased their price target on FOX from $48.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group lifted their price objective on FOX from $51.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $51.00.

FOX Stock Up 1.4 %

FOXA stock traded up $0.75 on Thursday, hitting $55.45. 2,990,105 shares of the company's stock were exchanged, compared to its average volume of 3,509,883. The firm has a 50 day moving average price of $49.47 and a two-hundred day moving average price of $44.60. Fox Co. has a 12-month low of $28.28 and a 12-month high of $55.56. The stock has a market cap of $25.33 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.50.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 earnings per share. As a group, equities research analysts expect that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors 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%.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated 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 $1,618,324.61. This represents a 4.10 % 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 insiders.

FOX Company 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.