Summit Trail Advisors LLC Acquires New Stake in Fox Co. (NASDAQ:FOXA)

Summit Trail Advisors LLC purchased a new position in Fox Co. (NASDAQ:FOXA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,275 shares of the company's stock, valued at approximately $499,000.

A number of other institutional investors and hedge funds have also modified their holdings of FOXA. Pacer Advisors Inc. grew its holdings in shares of FOX by 44,205.3% in the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company's stock worth $335,066,000 after acquiring an additional 7,897,710 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in FOX by 228.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company's stock valued at $58,716,000 after buying an additional 964,737 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in FOX by 308.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company's stock valued at $59,174,000 after buying an additional 919,883 shares in the last quarter. KBC Group NV lifted its stake in FOX by 56.1% in the 4th quarter. KBC Group NV now owns 2,367,698 shares of the company's stock valued at $115,022,000 after buying an additional 851,127 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in FOX by 244.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 389,470 shares of the company's stock valued at $16,486,000 after buying an additional 276,259 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

FOX Trading Up 0.3 %

Shares of FOXA stock traded up $0.18 on Friday, reaching $55.63. 3,521,225 shares of the stock were exchanged, compared to its average volume of 3,616,458. The stock has a market cap of $25.41 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $49.82 and a two-hundred day moving average of $44.80. Fox Co. has a 1-year low of $28.28 and a 1-year high of $55.86.

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

FOX Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a yield of 1%. FOX's dividend payout ratio is currently 11.56%.

Wall Street Analysts Forecast Growth

FOXA has been the topic of a number of recent research reports. Citigroup upped their target price on FOX from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upped their target price on FOX from $42.00 to $47.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. StockNews.com lowered FOX from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. UBS Group increased their price target on FOX from $50.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Moffett Nathanson lowered FOX from a "buy" rating to a "neutral" rating and increased their price target for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, FOX has a consensus rating of "Hold" and a consensus target price of $51.00.

Insider Activity at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is owned by 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.