Harvest Fund Management Co. Ltd Buys New Holdings in Fox Co. (NASDAQ:FOXA)

Harvest Fund Management Co. Ltd acquired a new stake in Fox Co. (NASDAQ:FOXA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,820 shares of the company's stock, valued at approximately $865,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. lifted its stake in shares of FOX by 1.7% in the fourth quarter. Xponance Inc. now owns 39,708 shares of the company's stock worth $1,929,000 after buying an additional 652 shares in the last quarter. Intech Investment Management LLC lifted its stake in FOX by 40.8% in the 4th quarter. Intech Investment Management LLC now owns 167,711 shares of the company's stock worth $8,147,000 after purchasing an additional 48,586 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in shares of FOX during the 4th quarter worth approximately $3,611,000. Counterpoint Mutual Funds LLC acquired a new position in shares of FOX during the 4th quarter worth approximately $1,082,000. Finally, Cibc World Markets Corp grew its position in shares of FOX by 0.5% in the fourth quarter. Cibc World Markets Corp now owns 179,151 shares of the company's stock valued at $8,703,000 after purchasing an additional 851 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

FOX Trading Up 2.9 %

NASDAQ:FOXA traded up $1.57 during trading hours on Tuesday, reaching $54.96. 5,313,768 shares of the stock were exchanged, compared to its average volume of 3,152,394. Fox Co. has a twelve month low of $30.02 and a twelve month high of $58.74. The business has a 50-day moving average of $53.16 and a two-hundred day moving average of $47.67. The company has a market capitalization of $24.92 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.27 and a beta of 0.67. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

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FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data 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. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the business earned $0.34 EPS. The company's quarterly revenue was up 19.9% compared to the same quarter last year. On average, equities analysts predict that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

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

Insider Activity

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business'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 completion of the transaction, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 in the company, valued at approximately $1,618,324.61. The trade was 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.

Analysts Set New Price Targets

A number of brokerages recently commented on FOXA. UBS Group lifted their price objective on FOX from $50.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on shares of FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Loop Capital upped their price objective on shares of FOX from $48.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Citigroup lifted their target price on shares of FOX from $50.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Finally, Moffett Nathanson cut shares of FOX from a "buy" rating to a "neutral" rating and increased their price target for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $51.19.

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.