Fmr LLC Increases Stake in Fox Co. (NASDAQ:FOXA)

FMR LLC lifted its holdings in Fox Co. (NASDAQ:FOXA - Free Report) by 240.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,884,927 shares of the company's stock after purchasing an additional 1,330,908 shares during the quarter. FMR LLC owned 0.41% of FOX worth $91,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. WealthTrak Capital Management LLC bought a new position in FOX in the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. boosted its holdings in FOX by 91.0% in 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 during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in FOX during the fourth quarter valued at about $28,000. Jones Financial Companies Lllp lifted its position in shares of FOX by 61.5% in the fourth 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 boosted its stake in shares of 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 acquiring an additional 368 shares during the period. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Stock Performance

Shares of NASDAQ:FOXA traded down $0.29 during trading on Friday, hitting $47.97. The stock had a trading volume of 3,921,573 shares, compared to its average volume of 3,386,053. Fox Co. has a 12-month low of $30.87 and a 12-month high of $58.74. The stock has a 50-day simple moving average of $53.62 and a two-hundred day simple moving average of $49.03. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $21.75 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.34. The firm 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 company's revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, equities research analysts expect that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

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

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the 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 transaction, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction on Wednesday, February 5th. The shares were 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 position. The disclosure for this sale can be found here. Insiders own 21.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Moffett Nathanson downgraded FOX from a "buy" rating to a "neutral" rating and upped their price target for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. Cfra Research raised shares of FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Guggenheim reiterated 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. lifted their price objective on shares of FOX from $49.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Finally, Barclays lowered their price objective on FOX from $50.00 to $45.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, FOX has a consensus rating of "Hold" and an average target price 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.