Aviva PLC Reduces Position in Fox Co. (NASDAQ:FOXA)

Aviva PLC cut its holdings in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 71.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,076 shares of the company's stock after selling 339,569 shares during the period. Aviva PLC's holdings in FOX were worth $6,562,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. FMR LLC grew its stake in shares of FOX by 9.0% in the third quarter. FMR LLC now owns 554,019 shares of the company's stock worth $23,452,000 after acquiring an additional 45,531 shares during the period. iA Global Asset Management Inc. grew its position in FOX by 241,314.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 16,899 shares of the company's stock worth $715,000 after purchasing an additional 16,892 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in FOX by 0.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,082 shares of the company's stock valued at $2,924,000 after buying an additional 590 shares during the last quarter. M&T Bank Corp raised its stake in FOX by 7.4% during the 3rd quarter. M&T Bank Corp now owns 14,645 shares of the company's stock valued at $620,000 after buying an additional 1,010 shares during the last quarter. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of FOX by 14.7% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 4,445 shares of the company's stock valued at $188,000 after buying an additional 569 shares during the period. 52.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FOXA has been the subject of a number of research reports. Citigroup upped their price objective on FOX from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Wolfe Research cut shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price objective on the stock. in a research note on Monday, April 7th. Guggenheim restated a "buy" rating and set a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. JPMorgan Chase & Co. increased their price target on shares of FOX from $49.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Finally, UBS Group lifted their price target on shares of FOX from $50.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $51.06.

Insider Activity

In other FOX news, 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 transaction of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 of the company's stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company's stock.

FOX Price Performance

Shares of NASDAQ:FOXA traded up $1.17 during midday trading on Monday, reaching $50.06. 528,868 shares of the company were exchanged, compared to its average volume of 3,359,683. 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 cap of $22.70 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. The business's fifty day moving average is $53.98 and its two-hundred day moving average is $48.93. Fox Co. has a one year low of $30.02 and a one year high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.34. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business's quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. As a group, analysts predict that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

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