Fox Co. (NASDAQ:FOXA) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lessened its stake in shares of Fox Co. (NASDAQ:FOXA) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,655 shares of the company’s stock after selling 1,569 shares during the period. Arizona State Retirement System’s holdings in FOX were worth $3,141,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. SRS Capital Advisors Inc. grew its holdings in shares of FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after buying an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in FOX during the 4th quarter worth about $28,000. Jones Financial Companies Lllp grew 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. Brooklyn Investment Group increased its holdings in shares of FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after purchasing an additional 466 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of FOX in the third quarter worth about $51,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Transactions at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction 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 sale, 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 ownership of the stock. The transaction 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 FOX stock in a transaction on Friday, February 21st. The shares were 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 owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents 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.

FOX Stock Performance

FOXA opened at $55.67 on Monday. The firm has a market capitalization of $25.24 billion, a PE ratio of 11.92, a PEG ratio of 1.27 and a beta of 0.67. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. Fox Co. has a twelve month low of $28.67 and a twelve month high of $58.74. The firm’s 50-day moving average price is $52.31 and its 200 day moving average price is $46.77.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results 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 business 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 business earned $0.34 earnings per share. The business’s revenue was up 19.9% compared to the same quarter last year. As a group, sell-side analysts expect that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is presently 11.56%.

Analyst Ratings Changes

A number of brokerages recently commented on FOXA. UBS Group upped their target price on FOX from $50.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Loop Capital upped their price objective on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group set a $60.00 target price on shares of FOX and gave the stock a “buy” rating in a report on Tuesday, February 4th. Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and upped their price target for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Finally, Guggenheim raised their target price on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $51.19.

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.