Russell Investments Group Ltd. Lowers Holdings in Fox Co. (NASDAQ:FOXA)

Russell Investments Group Ltd. trimmed its holdings in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 41.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 368,068 shares of the company's stock after selling 262,926 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of FOX worth $17,887,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of FOXA. WealthTrak Capital Management LLC purchased a new stake in FOX during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. lifted its stake in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after purchasing an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in FOX in the fourth quarter worth $28,000. Jones Financial Companies Lllp lifted its position in shares of FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after buying an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after acquiring an additional 368 shares during the period. Hedge funds and other institutional investors own 52.52% of the company's stock.

Analyst Upgrades and Downgrades

FOXA has been the subject of several recent research reports. Bank of America lifted their target price on shares of FOX from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Wolfe Research cut FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price objective on the stock. in a report on Monday, April 7th. Barclays decreased their price target on FOX from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group set a $60.00 target price on shares of FOX and gave the stock a "buy" rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company reduced their price target on shares of FOX from $64.00 to $63.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Two 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $50.94.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were 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 of the company's stock, valued at $63,849,832.54. This represents 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 firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $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 owned by corporate insiders.

FOX Stock Up 1.5 %

Shares of NASDAQ:FOXA traded up $0.74 during trading on Tuesday, reaching $50.27. 850,492 shares of the stock traded hands, compared to its average volume of 3,362,856. Fox Co. has a 52-week low of $30.02 and a 52-week high of $58.74. The stock has a market cap of $22.79 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. The stock has a 50-day moving average of $53.88 and a two-hundred day moving average of $48.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50.

FOX (NASDAQ:FOXA - Get Free Report) last posted its 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. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company's quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. As a group, sell-side analysts expect that Fox Co. will post 4.38 earnings per share for the current fiscal 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 issued a dividend of $0.27 per share. This represents a dividend yield of 1%. The ex-dividend date was Wednesday, March 5th. FOX's payout ratio is presently 11.56%.

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.