Proficio Capital Partners LLC Invests $7.77 Million in Fox Co. (NASDAQ:FOXA)

Proficio Capital Partners LLC acquired a new stake in Fox Co. (NASDAQ:FOXA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 159,871 shares of the company's stock, valued at approximately $7,767,000.

Several other institutional investors have also recently modified their holdings of FOXA. M&T Bank Corp boosted its position in FOX by 10.5% in the 4th quarter. M&T Bank Corp now owns 16,185 shares of the company's stock worth $786,000 after purchasing an additional 1,540 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of FOX by 338.7% during the 4th quarter. Victory Capital Management Inc. now owns 857,929 shares of the company's stock worth $41,678,000 after buying an additional 662,367 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of FOX by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,417,818 shares of the company's stock valued at $117,458,000 after buying an additional 37,505 shares in the last quarter. Jones Financial Companies Lllp grew its stake in FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after acquiring an additional 249 shares during the period. Finally, SRS Capital Advisors Inc. increased its holdings in FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock worth $27,000 after acquiring an additional 262 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group set a $60.00 target price on FOX and gave the company a "buy" rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. increased their price objective on shares of FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Citigroup boosted their target price on FOX from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. UBS Group increased their price target on FOX from $50.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Loop Capital boosted their price objective on FOX from $48.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $51.19.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company's stock.

FOX Stock Performance

Shares of FOXA traded up $0.57 during mid-day trading on Wednesday, hitting $52.95. 1,577,812 shares of the company's stock were exchanged, compared to its average volume of 3,090,088. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. Fox Co. has a fifty-two week low of $29.53 and a fifty-two week high of $58.74. The business's 50 day moving average is $52.79 and its two-hundred day moving average is $47.33. The firm has a market capitalization of $24.01 billion, a P/E ratio of 11.34, a P/E/G ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share 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 period last year, the business posted $0.34 EPS. The company's revenue was up 19.9% on a year-over-year basis. On average, equities analysts expect that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid 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 (DPR) is 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.