JPMorgan Chase & Co. Lowers Holdings in Fox Co. (NASDAQ:FOXA)

JPMorgan Chase & Co. cut its position in Fox Co. (NASDAQ:FOXA - Free Report) by 48.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 580,893 shares of the company's stock after selling 544,755 shares during the period. JPMorgan Chase & Co. owned approximately 0.13% of FOX worth $28,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of FOX by 15.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 339,270 shares of the company's stock valued at $16,733,000 after buying an additional 44,414 shares during the last quarter. Korea Investment CORP boosted its holdings in shares of FOX by 100.6% during the 4th quarter. Korea Investment CORP now owns 168,364 shares of the company's stock valued at $8,179,000 after acquiring an additional 84,454 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of FOX in the fourth quarter worth approximately $768,000. Banco BTG Pactual S.A. purchased a new position in shares of FOX during the fourth quarter valued at approximately $588,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in FOX by 2.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 336,359 shares of the company's stock valued at $16,340,000 after purchasing an additional 9,085 shares during the period. Institutional investors own 52.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FOXA shares. 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 report on Wednesday, December 18th. The Goldman Sachs Group set a $60.00 price objective on FOX and gave the company a "buy" rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. raised their target price on FOX from $49.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Guggenheim restated a "buy" rating and set a $60.00 price target on shares of FOX in a research note on Tuesday, March 25th. Finally, UBS Group increased their price objective on shares of FOX from $50.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $51.06.

FOX Price Performance

NASDAQ:FOXA traded down $0.63 on Friday, reaching $48.89. 4,433,430 shares of the company's stock traded hands, compared to its average volume of 3,370,369. The stock has a 50-day simple moving average of $53.98 and a 200-day simple moving average of $48.93. Fox Co. has a 12 month low of $30.02 and a 12 month high of $58.74. The firm has a market cap of $22.17 billion, a PE ratio of 10.47, a P/E/G ratio of 1.27 and a beta of 0.51. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA - Get Free Report) last issued its 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. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the company earned $0.34 EPS. The firm's quarterly revenue was up 19.9% on a year-over-year basis. Equities research analysts forecast that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

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

Insiders Place Their Bets

In other FOX 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now directly owns 29,897 shares of the company's stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

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.