Heron Bay Capital Management Cuts Stock Position in Fox Co. (NASDAQ:FOXA)

Heron Bay Capital Management reduced its position in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 310,849 shares of the company's stock after selling 40,336 shares during the period. FOX comprises 3.2% of Heron Bay Capital Management's investment portfolio, making the stock its 12th largest holding. Heron Bay Capital Management owned approximately 0.07% of FOX worth $15,101,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in FOX during the 4th quarter worth approximately $14,098,000. AXQ Capital LP raised its stake in shares of FOX by 14.3% during the fourth quarter. AXQ Capital LP now owns 11,813 shares of the company's stock valued at $574,000 after acquiring an additional 1,482 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of FOX by 5.0% during the fourth quarter. Sei Investments Co. now owns 230,507 shares of the company's stock worth $11,198,000 after purchasing an additional 11,040 shares during the period. Sciencast Management LP acquired a new position in shares of FOX during the fourth quarter worth $2,485,000. Finally, MRP Capital Investments LLC grew its stake in shares of FOX by 100.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,900 shares of the company's stock worth $92,000 after purchasing an additional 950 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Activity at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the firm'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 transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company'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 completion of the sale, the chairman now owns 1,200,862 shares of the company's stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

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FOX Stock Down 0.5 %

FOX stock traded down $0.29 during midday trading on Thursday, reaching $54.92. The stock had a trading volume of 2,928,533 shares, compared to its average volume of 3,154,650. The company has a fifty day moving average price of $53.55 and a two-hundred day moving average price of $47.88. The company has a market capitalization of $24.90 billion, a P/E ratio of 11.76, a PEG ratio of 1.27 and a beta of 0.67. 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 Co. has a 12 month low of $30.02 and a 12 month high of $58.74.

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

FOX Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FOXA shares. Bank of America raised their target price on FOX from $50.00 to $55.00 and gave the stock a "buy" rating in a research 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 research report on Wednesday, December 18th. JPMorgan Chase & Co. upped their target price on FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Wells Fargo & Company lowered their price target on shares of FOX from $64.00 to $63.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Guggenheim reaffirmed a "buy" rating and issued a $60.00 price objective on shares of FOX in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $51.13.

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.