First Trust Advisors LP Sells 219,536 Shares of Fox Co. (NASDAQ:FOXA)

First Trust Advisors LP cut its position in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 20.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 863,934 shares of the company's stock after selling 219,536 shares during the quarter. First Trust Advisors LP owned 0.19% of FOX worth $41,970,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. WealthTrak Capital Management LLC acquired a new stake in shares of FOX in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. lifted its position in FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock worth $27,000 after buying an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of FOX during the 4th quarter worth about $28,000. Jones Financial Companies Lllp grew its holdings in shares of FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after acquiring an additional 249 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after acquiring an additional 368 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

Insiders Place Their Bets

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the company's stock in a transaction on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business's stock in a transaction 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 transaction, the chairman now directly owns 1,200,862 shares of the company's stock, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company's stock.

FOX Stock Performance

Shares of NASDAQ:FOXA traded down $0.20 on Tuesday, reaching $49.31. 526,526 shares of the company's stock were exchanged, compared to its average volume of 3,386,176. Fox Co. has a twelve month low of $30.92 and a twelve month high of $58.74. The company has a fifty day moving average of $52.65 and a 200-day moving average of $49.46. The company has a market capitalization of $22.36 billion, a price-to-earnings ratio of 10.56, a PEG 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.

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

FOX Dividend Announcement

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

Analyst Upgrades and Downgrades

FOXA has been the topic of several recent analyst reports. Barclays lowered their price target on FOX from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. 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. UBS Group reduced their price target on FOX from $63.00 to $61.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Moffett Nathanson lowered FOX from a "buy" rating to a "neutral" rating and upped their price objective for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group set a $60.00 target price on FOX and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, FOX currently has an average rating of "Hold" and an average price target of $50.65.

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.