Quantessence Capital LLC Invests $611,000 in Fox Co. (NASDAQ:FOXA)

Quantessence Capital LLC acquired 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 institutional investor acquired 12,568 shares of the company's stock, valued at approximately $611,000.

Several other hedge funds also recently made changes to their positions in FOXA. WealthTrak Capital Management LLC acquired a new stake in FOX during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. raised its position in shares of FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock worth $27,000 after purchasing an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of FOX during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp lifted its holdings in shares of FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock worth $32,000 after purchasing an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after purchasing an additional 368 shares during the period. Institutional investors and hedge funds own 52.52% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on FOXA. UBS Group cut their target price on FOX from $63.00 to $61.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Barclays reduced their price objective on FOX from $50.00 to $45.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group set a $60.00 price objective on shares of FOX and gave the company a "buy" rating in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their price objective on shares of FOX from $63.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, FOX presently has an average rating of "Hold" and a consensus price target of $50.65.

FOX Price Performance

Shares of FOXA opened at $47.21 on Tuesday. The business's 50-day moving average is $53.36 and its 200-day moving average is $49.20. Fox Co. has a fifty-two week low of $30.92 and a fifty-two week high of $58.74. The company has a market capitalization of $21.41 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 1.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the business posted $0.34 earnings per share. FOX's revenue for the quarter was up 19.9% compared to the same quarter last year. Equities research analysts expect that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

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

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business'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 completion of the sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

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.

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