Envestnet Asset Management Inc. Sells 28,475 Shares of Fox Co. (NASDAQ:FOXA)

Envestnet Asset Management Inc. lessened its stake in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,439 shares of the company's stock after selling 28,475 shares during the period. Envestnet Asset Management Inc.'s holdings in FOX were worth $10,223,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FOXA. DnB Asset Management AS increased its holdings in shares of FOX by 0.6% during the fourth 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 raised its holdings in FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock worth $32,000 after buying an additional 249 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in 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 buying an additional 262 shares during the last quarter. US Bancorp DE grew its holdings in shares of FOX by 2.0% during the fourth quarter. US Bancorp DE now owns 14,520 shares of the company's stock valued at $705,000 after buying an additional 281 shares during the last quarter. Finally, Metis Global Partners LLC grew its holdings in shares of FOX by 2.8% during the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company's stock valued at $524,000 after buying an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Insider Transactions at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 completion of the sale, the chairman now 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 disclosure for this sale can be found here. Insiders own 21.77% of the company's stock.

Analyst Ratings Changes

FOXA has been the topic of several recent analyst reports. Moffett Nathanson downgraded FOX from a "buy" rating to a "neutral" rating and increased their target price for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Barclays dropped their price target on shares of FOX from $50.00 to $45.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on shares of FOX from $63.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, The Goldman Sachs Group set a $60.00 target price on shares of FOX and gave the stock a "buy" rating in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, FOX presently has an average rating of "Hold" and an average target price of $50.65.

FOX Price Performance

Shares of FOXA traded up $0.35 during trading hours on Thursday, reaching $49.01. 758,116 shares of the stock traded hands, compared to its average volume of 3,386,390. The company has a market cap of $22.22 billion, a P/E ratio of 10.50, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. 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 company's 50-day moving average price is $53.08 and its two-hundred day moving average price is $49.19. Fox Co. has a 52-week low of $30.92 and a 52-week high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping 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 in the prior year, the company posted $0.34 earnings per share. On average, analysts anticipate that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

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