Gabelli Funds LLC Reduces Stake in Fox Co. (NASDAQ:FOXA)

Gabelli Funds LLC decreased its stake in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 294,033 shares of the company's stock after selling 10,800 shares during the quarter. Gabelli Funds LLC owned about 0.06% of FOX worth $14,284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. M&T Bank Corp increased its stake in FOX by 7.4% in the 3rd quarter. M&T Bank Corp now owns 14,645 shares of the company's stock worth $620,000 after acquiring an additional 1,010 shares during the last quarter. Invst LLC purchased a new position in shares of FOX in the third quarter valued at $740,000. World Investment Advisors LLC bought a new stake in FOX in the third quarter worth $3,587,000. Tidal Investments LLC raised its stake in FOX by 24.6% during the third quarter. Tidal Investments LLC now owns 33,672 shares of the company's stock valued at $1,425,000 after purchasing an additional 6,658 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in FOX by 108.4% during the third quarter. Franklin Resources Inc. now owns 177,342 shares of the company's stock valued at $7,369,000 after purchasing an additional 92,244 shares in the last quarter. Institutional investors own 52.52% of the company's stock.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of research reports. Barclays reduced their target price on shares of FOX from $50.00 to $45.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. JPMorgan Chase & Co. upped their price objective on FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 target price on FOX and gave the stock a "buy" rating in a report on Tuesday, February 4th. Finally, UBS Group decreased their price target on FOX from $63.00 to $61.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $50.65.

FOX Stock Down 0.6 %

Shares of FOXA stock traded down $0.29 during mid-day trading on Friday, hitting $47.97. The stock had a trading volume of 3,921,573 shares, compared to its average volume of 3,389,865. Fox Co. has a 12-month low of $30.92 and a 12-month high of $58.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The firm's 50-day moving average is $53.51 and its two-hundred day moving average is $49.11. The firm has a market capitalization of $21.75 billion, a P/E 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 released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping 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 company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. The firm's revenue for the quarter was up 19.9% compared to the same quarter last year. On average, analysts predict that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

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

Insider Buying and Selling at FOX

In other news, 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 transaction, the chairman now directly owns 1,200,862 shares of the company's stock, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 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 position. 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.