Fox Co. (NASDAQ:FOXA) Stock Holdings Increased by Foundry Partners LLC

Foundry Partners LLC boosted its holdings in Fox Co. (NASDAQ:FOXA - Free Report) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 382,666 shares of the company's stock after acquiring an additional 40,311 shares during the period. FOX accounts for about 0.9% of Foundry Partners LLC's portfolio, making the stock its 29th largest holding. Foundry Partners LLC owned approximately 0.08% of FOX worth $18,590,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FOXA. Westpac Banking Corp grew its stake in shares of FOX by 2.2% in the fourth quarter. Westpac Banking Corp now owns 105,120 shares of the company's stock valued at $5,107,000 after buying an additional 2,270 shares in the last quarter. Ardmore Road Asset Management LP acquired a new position in FOX during the 4th quarter worth approximately $14,574,000. National Bank of Canada FI increased its position in shares of FOX by 19.6% in the 4th quarter. National Bank of Canada FI now owns 59,716 shares of the company's stock valued at $2,901,000 after purchasing an additional 9,804 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of FOX by 164.8% in the 4th quarter. Franklin Resources Inc. now owns 469,547 shares of the company's stock valued at $22,811,000 after purchasing an additional 292,205 shares in the last quarter. Finally, Brandywine Global Investment Management LLC lifted its position in shares of FOX by 3.0% during the 4th quarter. Brandywine Global Investment Management LLC now owns 471,271 shares of the company's stock worth $22,894,000 after purchasing an additional 13,642 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wells Fargo & Company cut their price target on FOX from $64.00 to $63.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. Moffett Nathanson downgraded FOX from a "buy" rating to a "neutral" rating and upped their price target for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Bank of America raised their price objective on shares of FOX from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Citigroup raised their price objective on FOX from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, Loop Capital raised their price target on FOX from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $51.06.

FOX Price Performance

FOX stock traded down $0.03 during midday trading on Wednesday, reaching $47.42. 1,044,863 shares of the company were exchanged, compared to its average volume of 3,331,553. The company has a market capitalization of $21.50 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 1.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The firm's 50-day simple moving average is $54.13 and its 200-day simple moving average is $48.70. Fox Co. has a 1 year low of $30.02 and a 1 year high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the business posted $0.34 earnings per share. The company's revenue was up 19.9% on a year-over-year basis. On average, analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a $0.27 dividend. 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 other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now owns 1,200,862 shares of the company's stock, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares of the company's stock, valued at approximately $1,618,324.61. This represents a 4.10 % 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.

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.