Fox Co. (NASDAQ:FOXA) Stake Raised by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in Fox Co. (NASDAQ:FOXA - Free Report) by 164.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 469,547 shares of the company's stock after purchasing an additional 292,205 shares during the quarter. Franklin Resources Inc. owned about 0.10% of FOX worth $22,811,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CIBC Private Wealth Group LLC raised its holdings in shares of FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after buying an additional 368 shares during the period. JPMorgan Chase & Co. raised its stake in shares of FOX by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company's stock valued at $47,649,000 after purchasing an additional 110,753 shares during the period. Invst LLC acquired a new position in shares of FOX during the third quarter worth $740,000. Asset Management One Co. Ltd. lifted its position in shares of FOX by 25.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company's stock worth $5,856,000 after purchasing an additional 23,704 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of FOX by 32.4% in the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company's stock valued at $752,000 after purchasing an additional 3,787 shares during the period. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Transactions at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the company's stock in a transaction that occurred 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 directly owns 29,897 shares of the company's stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were 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 represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company's stock.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of recent analyst reports. StockNews.com lowered shares of FOX from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. UBS Group boosted their price target on FOX from $50.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Moffett Nathanson lowered FOX from a "buy" rating to a "neutral" rating and raised their price objective for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. Citigroup upped their target price on FOX from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Finally, Bank of America raised their price target on shares of FOX from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. 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 company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $51.06.

FOX Stock Performance

FOXA traded down $0.63 during trading on Friday, reaching $48.89. 4,433,430 shares of the company were exchanged, compared to its average volume of 3,366,300. Fox Co. has a 52 week low of $30.02 and a 52 week high of $58.74. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $53.98 and a 200 day moving average of $48.89. The stock has a market cap of $22.17 billion, a P/E ratio of 10.47, a PEG ratio of 1.27 and a beta of 0.51.

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

FOX Dividend Announcement

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

About FOX

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.