Dodge & Cox Sells 7,357,231 Shares of Fox Co. (NASDAQ:FOXA)

Dodge & Cox cut its position in Fox Co. (NASDAQ:FOXA - Free Report) by 25.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,098,016 shares of the company's stock after selling 7,357,231 shares during the period. Dodge & Cox owned approximately 4.62% of FOX worth $1,024,942,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. DnB Asset Management AS lifted its position in FOX by 0.6% in the 4th quarter. DnB Asset Management AS now owns 44,063 shares of the company's stock valued at $2,141,000 after acquiring an additional 245 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock worth $32,000 after buying an additional 249 shares in the last quarter. SRS Capital Advisors Inc. lifted its stake in FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after acquiring an additional 262 shares during the period. US Bancorp DE boosted its holdings in shares of FOX by 2.0% during the 4th quarter. US Bancorp DE now owns 14,520 shares of the company's stock valued at $705,000 after acquiring an additional 281 shares during the last quarter. Finally, Metis Global Partners LLC grew its stake in shares of FOX by 2.8% in the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company's stock worth $524,000 after acquiring an additional 292 shares during the period. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Trading Down 0.6 %

NASDAQ:FOXA traded down $0.29 during midday trading on Friday, hitting $47.97. 3,921,573 shares of the company traded hands, compared to its average volume of 3,380,647. The firm has a market capitalization of $21.75 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.27 and a beta of 0.51. The firm's fifty day moving average is $53.62 and its 200-day moving average is $49.03. Fox Co. has a 12-month low of $30.39 and a 12-month high of $58.74. 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 (NASDAQ:FOXA - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 14.39% and a return on equity of 18.50%. The business's revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS. On average, sell-side analysts predict that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

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

Insider Activity at FOX

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business'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 value of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm's stock in a transaction 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 transaction, the insider now owns 29,897 shares in the company, 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. 21.77% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FOXA has been the topic of several research reports. Wolfe Research cut 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. Wells Fargo & Company reduced their price target on FOX from $63.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday. UBS Group reduced their target price on shares of FOX from $63.00 to $61.00 and set a "buy" rating for the company in a report on Tuesday. 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. Finally, Guggenheim reaffirmed a "buy" rating and issued a $60.00 target price on shares of FOX in a report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.