Alliancebernstein L.P. Sells 6,908 Shares of Fox Co. (NASDAQ:FOXA)

Alliancebernstein L.P. decreased its stake in Fox Co. (NASDAQ:FOXA - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 264,433 shares of the company's stock after selling 6,908 shares during the period. Alliancebernstein L.P. owned 0.06% of FOX worth $12,846,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. WealthTrak Capital Management LLC bought a new stake in shares of FOX during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. grew its stake in shares of FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock worth $27,000 after purchasing an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of FOX during the fourth quarter valued at $28,000. Jones Financial Companies Lllp increased its holdings in shares of FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after purchasing an additional 249 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after purchasing an additional 368 shares during the period. Institutional investors and hedge funds own 52.52% of the company's stock.

Insiders Place Their Bets

In related news, insider Adam G. Ciongoli sold 1,278 shares of the firm's stock in a transaction 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction, the chairman now directly owns 1,200,862 shares of the company's stock, valued at $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Loop Capital lifted their price target on FOX from $60.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, April 1st. JPMorgan Chase & Co. raised their price objective on shares of FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Wolfe Research downgraded shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 target price on the stock. in a report on Monday, April 7th. StockNews.com cut shares of FOX from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $60.00 price target on shares of FOX in a report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $51.06.

FOX Stock Up 1.5 %

NASDAQ FOXA traded up $0.72 during trading on Tuesday, reaching $50.25. The company's stock had a trading volume of 626,225 shares, compared to its average volume of 3,361,979. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $22.79 billion, a PE ratio of 10.76, a PEG ratio of 1.27 and a beta of 0.51. Fox Co. has a 1-year low of $30.02 and a 1-year high of $58.74. The business has a 50-day moving average price of $53.88 and a 200-day moving average price of $48.99.

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

FOX Dividend Announcement

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

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.