Sequoia Financial Advisors LLC Makes New Investment in Fox Co. (NASDAQ:FOXA)

Sequoia Financial Advisors LLC purchased a new position in Fox Co. (NASDAQ:FOXA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,969 shares of the company's stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Daiwa Securities Group Inc. increased its stake in shares of FOX by 32.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 41,233 shares of the company's stock worth $2,003,000 after purchasing an additional 10,061 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of FOX by 10.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,156 shares of the company's stock worth $3,602,000 after purchasing an additional 7,287 shares during the period. Ruffer LLP bought a new position in shares of FOX in the fourth quarter worth about $11,959,000. AlphaQuest LLC increased its stake in shares of FOX by 390.1% in the fourth quarter. AlphaQuest LLC now owns 5,901 shares of the company's stock worth $287,000 after purchasing an additional 4,697 shares during the period. Finally, Amundi increased its stake in shares of FOX by 9.9% in the fourth quarter. Amundi now owns 2,434,443 shares of the company's stock worth $119,006,000 after purchasing an additional 219,380 shares during the period. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Transactions at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the business'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 value of $69,178.14. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Remove Ads

FOX Price Performance

NASDAQ FOXA traded up $0.19 during trading on Friday, reaching $53.40. 16,675,374 shares of the company traded hands, compared to its average volume of 3,150,292. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The stock's 50 day moving average price is $53.06 and its two-hundred day moving average price is $47.54. The company has a market cap of $24.21 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 1.27 and a beta of 0.67. Fox Co. has a 1-year low of $30.02 and a 1-year high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share. As a group, analysts anticipate that Fox Co. will post 4.38 EPS 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 issued a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX's payout ratio is currently 11.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FOXA shares. Moffett Nathanson lowered FOX from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. Guggenheim lifted their price objective on FOX from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 price objective on FOX and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Citigroup boosted their price target on FOX from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Finally, Bank of America boosted their price target on FOX from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $51.19.

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.