Generali Asset Management SPA SGR Invests $3.61 Million in Fox Co. (NASDAQ:FOXA)

Generali Asset Management SPA SGR purchased a new stake in shares of Fox Co. (NASDAQ:FOXA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 74,338 shares of the company's stock, valued at approximately $3,611,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in FOX in the 3rd quarter worth about $620,000. CIBC Asset Management Inc raised its stake in shares of FOX by 4.8% during the 3rd quarter. CIBC Asset Management Inc now owns 35,301 shares of the company's stock worth $1,494,000 after buying an additional 1,616 shares during the period. Quest Partners LLC purchased a new position in shares of FOX during the 3rd quarter valued at approximately $51,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in FOX in the 3rd quarter valued at $2,867,000. Finally, Commerce Bank purchased a new stake in FOX in the 3rd quarter worth $301,000. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Trading Up 0.4 %

Shares of FOXA stock traded up $0.19 during trading on Friday, hitting $53.40. 16,675,374 shares of the stock traded hands, compared to its average volume of 3,150,292. Fox Co. has a 52-week low of $30.02 and a 52-week high of $58.74. The firm has a market capitalization of $24.21 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The firm's fifty day moving average price is $53.06 and its 200-day moving average price is $47.54. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14.

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

FOX Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FOXA shares. Wells Fargo & Company increased their price objective on shares of FOX from $59.00 to $64.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Barclays lifted their price objective on FOX from $39.00 to $50.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. StockNews.com lowered FOX from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Bank of America raised their target price on FOX from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. boosted their price target on FOX from $49.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. One investment analyst has 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $51.19.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction that occurred 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 completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade 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.

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.