Forum Financial Management LP Purchases Shares of 6,669 Fox Co. (NASDAQ:FOXA)

Forum Financial Management LP bought a new stake in Fox Co. (NASDAQ:FOXA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,669 shares of the company's stock, valued at approximately $324,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. lifted its position in shares of FOX by 5.4% in the fourth quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company's stock valued at $405,194,000 after buying an additional 425,186 shares during the last quarter. Norges Bank acquired a new stake in FOX during the 4th quarter valued at $132,161,000. Amundi lifted its holdings in FOX by 9.9% during the 4th quarter. Amundi now owns 2,434,443 shares of the company's stock valued at $119,006,000 after purchasing an additional 219,380 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in FOX by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,417,818 shares of the company's stock worth $117,458,000 after purchasing an additional 37,505 shares during the period. Finally, KBC Group NV increased its holdings in shares of FOX by 56.1% in the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company's stock valued at $115,022,000 after purchasing an additional 851,127 shares during the last quarter. Institutional investors own 52.52% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Cfra Research raised shares of FOX from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. UBS Group reduced their price objective on FOX from $63.00 to $61.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Barclays lowered their target price on FOX from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Wolfe Research downgraded FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price target for the company. in a research note on Monday, April 7th. Finally, Wells Fargo & Company lowered their price objective on FOX from $63.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $50.65.

FOX Price Performance

Shares of FOXA stock traded up $0.33 during trading hours on Friday, reaching $49.35. The company's stock had a trading volume of 2,770,689 shares, compared to its average volume of 3,395,392. Fox Co. has a fifty-two week low of $30.92 and a fifty-two week high of $58.74. The firm's 50 day simple moving average is $52.95 and its 200-day simple moving average is $49.24. 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 company has a market capitalization of $22.38 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.27 and a beta of 0.51.

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, beating the consensus estimate of $0.62 by $0.34. The business had revenue of $5.08 billion for 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%. FOX's revenue was up 19.9% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. Sell-side analysts forecast that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were issued 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 (DPR) is presently 11.56%.

Insider Buying and Selling

In related news, 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 transaction of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. The trade was a 4.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares of the company's stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

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.