Royal London Asset Management Ltd. Increases Stock Position in Fox Co. (NASDAQ:FOXA)

Royal London Asset Management Ltd. raised its position in Fox Co. (NASDAQ:FOXA - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,875 shares of the company's stock after purchasing an additional 15,276 shares during the period. Royal London Asset Management Ltd.'s holdings in FOX were worth $5,338,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FOXA. SRS Capital Advisors Inc. boosted its stake in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after buying an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of FOX during the fourth quarter worth about $28,000. Jones Financial Companies Lllp increased its position in shares of FOX by 61.5% in the fourth 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. Brooklyn Investment Group raised its stake in FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company's stock valued at $39,000 after purchasing an additional 466 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in FOX during the third quarter valued at approximately $51,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FOXA shares. Guggenheim restated a "buy" rating and set a $60.00 price objective on shares of FOX in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on FOX from $49.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Moffett Nathanson lowered FOX from a "buy" rating to a "neutral" rating and increased their price objective for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Loop Capital boosted their target price on FOX from $48.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company cut their target price on FOX from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $51.13.

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FOX Stock Down 0.5 %

NASDAQ:FOXA traded down $0.29 during mid-day trading on Thursday, hitting $54.92. 2,928,533 shares of the company's stock were exchanged, compared to its average volume of 3,157,177. The company has a market cap of $24.90 billion, a PE ratio of 11.76, a P/E/G ratio of 1.27 and a beta of 0.67. 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 Co. has a one year low of $30.02 and a one year high of $58.74. The business has a fifty day moving average price of $53.42 and a 200 day moving average price of $47.83.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $4.78 billion. During the same period in the previous year, the firm posted $0.34 EPS. The business's revenue for the quarter was up 19.9% compared to the same quarter last year. Equities analysts predict that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

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

Insider Buying and Selling

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 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 directly owns 1,200,862 shares in the company, valued at $63,849,832.54. The trade was a 4.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the company's 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 completion of the transaction, the insider now directly 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. 21.77% of the stock is currently owned by company insiders.

FOX 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.