Sterling Capital Management LLC Grows Stock Holdings in Fox Co. (NASDAQ:FOXA)

Sterling Capital Management LLC increased its holdings in Fox Co. (NASDAQ:FOXA - Free Report) by 337.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,331 shares of the company's stock after buying an additional 29,560 shares during the period. Sterling Capital Management LLC's holdings in FOX were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of FOX during the 4th quarter worth approximately $132,161,000. Jupiter Asset Management Ltd. acquired a new stake in shares of FOX in the 4th quarter valued at $67,471,000. FMR LLC increased its stake in shares of FOX by 240.2% in the 4th quarter. FMR LLC now owns 1,884,927 shares of the company's stock valued at $91,570,000 after purchasing an additional 1,330,908 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of FOX by 308.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company's stock worth $59,174,000 after buying an additional 919,883 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of FOX by 3,077.5% during the 4th quarter. Allianz Asset Management GmbH now owns 885,476 shares of the company's stock worth $43,016,000 after buying an additional 857,609 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Price Performance

FOXA stock traded down $0.29 during trading on Friday, reaching $47.97. The company's stock had a trading volume of 3,921,573 shares, compared to its average volume of 3,380,647. The company's fifty day moving average is $53.62 and its 200-day moving average is $49.03. Fox Co. has a 1 year low of $30.39 and a 1 year high of $58.74. The company has a market capitalization of $21.75 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating 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 company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The firm's revenue was up 19.9% on a year-over-year basis. On average, research analysts expect that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently disclosed 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 (DPR) is presently 11.56%.

Insider Activity

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the business's stock in a transaction dated 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 approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm'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 completion of the sale, the chairman now directly owns 1,200,862 shares of the company's stock, valued at $63,849,832.54. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on FOXA shares. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. JPMorgan Chase & Co. boosted their price target on FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. 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. Moffett Nathanson lowered shares of FOX from a "buy" rating to a "neutral" rating and raised their price objective for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company cut their target price on FOX from $63.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, FOX presently has a consensus rating of "Hold" and an average target price of $50.65.

FOX Company 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.