Wells Fargo & Company MN Sells 18,182 Shares of Fox Co. (NASDAQ:FOXA)

Wells Fargo & Company MN trimmed its stake in Fox Co. (NASDAQ:FOXA - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 613,879 shares of the company's stock after selling 18,182 shares during the quarter. Wells Fargo & Company MN owned approximately 0.13% of FOX worth $29,822,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. boosted its position in FOX by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company's stock worth $405,194,000 after acquiring an additional 425,186 shares during the period. Norges Bank purchased a new position in FOX during the fourth quarter valued at approximately $132,161,000. Amundi increased its stake in FOX by 9.9% in the 4th quarter. Amundi now owns 2,434,443 shares of the company's stock valued at $119,006,000 after buying an additional 219,380 shares during the period. Charles Schwab Investment Management Inc. lifted its position in FOX by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,417,818 shares of the company's stock worth $117,458,000 after buying an additional 37,505 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of FOX by 56.1% during 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 during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Price Performance

FOXA traded up $0.53 during midday trading on Tuesday, reaching $50.06. 4,280,770 shares of the company's stock were exchanged, compared to its average volume of 3,376,154. Fox Co. has a one year low of $30.02 and a one year high of $58.74. The firm has a market capitalization of $22.70 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. The business has a 50-day simple moving average of $53.88 and a two-hundred day simple moving average of $48.99. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

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FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (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 analysts' expectations of $4.78 billion. During the same period last year, the business earned $0.34 earnings per share. The business's revenue was up 19.9% on a year-over-year basis. As a group, research analysts predict that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a yield of 1%. FOX's dividend payout ratio (DPR) is presently 11.56%.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares of the company's stock, valued at $1,618,324.61. This trade represents a 4.10 % 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

FOXA has been the subject of a number of research reports. Citigroup lifted their price objective on FOX from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Cfra Research raised shares of FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Moffett Nathanson downgraded shares of FOX from a "buy" rating to a "neutral" rating and increased their target price for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Barclays decreased their price target on FOX from $50.00 to $45.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com lowered FOX from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Two equities research 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.com, the stock has a consensus rating of "Hold" and an average target price of $50.94.

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.