Wellington Management Group LLP Cuts Stock Holdings in Fox Co. (NASDAQ:FOXA)

Wellington Management Group LLP reduced its position in Fox Co. (NASDAQ:FOXA - Free Report) by 52.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,278 shares of the company's stock after selling 75,201 shares during the period. Wellington Management Group LLP's holdings in FOX were worth $3,268,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. 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. Wolfe Research downgraded shares of 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 lowered their target price on shares of FOX from $50.00 to $45.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Guggenheim restated a "buy" rating and set a $60.00 price target on shares of FOX in a report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, FOX has a consensus rating of "Hold" and a consensus price target of $50.94.

Insider Transactions at FOX

In related news, 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 transaction of $69,178.14. Following the sale, the insider now owns 29,897 shares of the company's stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm's stock in a transaction on 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 transaction, the chairman now directly owns 1,200,862 shares of the company's stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company's stock.

FOX Stock Performance

FOX stock traded up $0.08 during midday trading on Thursday, reaching $48.34. The stock had a trading volume of 626,233 shares, compared to its average volume of 3,362,882. The firm has a market capitalization of $21.92 billion, a PE ratio of 10.36, a P/E/G ratio of 1.27 and a beta of 0.51. Fox Co. has a 12 month low of $30.30 and a 12 month high of $58.74. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm's 50-day moving average price is $53.73 and its 200 day moving average price is $48.99.

FOX (NASDAQ:FOXA - Get Free Report) last posted 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. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company's quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. As a group, research analysts predict that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

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