Swiss National Bank Reduces Holdings in Fox Co. (NASDAQ:FOXA)

Swiss National Bank lowered its stake in Fox Co. (NASDAQ:FOXA) by 8.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 628,834 shares of the company’s stock after selling 57,200 shares during the quarter. Swiss National Bank’s holdings in FOX were worth $30,549,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of FOXA. SRS Capital Advisors Inc. raised its holdings in shares of FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after acquiring an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of FOX during the 4th quarter worth about $28,000. Jones Financial Companies Lllp boosted its position in FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after acquiring an additional 249 shares during the last quarter. Brooklyn Investment Group boosted its holdings in shares of FOX by 142.5% during the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after purchasing an additional 466 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of FOX in the third quarter valued at $51,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on FOXA. Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and raised their price target for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. Barclays boosted their target price on shares of FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. increased their price target on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Bank of America boosted their price objective on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company increased their target price on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. One equities research analyst has 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, the company currently has an average rating of “Hold” and an average price target of $51.19.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’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 completion of the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % 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 opened at $52.46 on Tuesday. The firm has a market capitalization of $23.79 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. Fox Co. has a one year low of $29.35 and a one year high of $58.74. The stock’s 50 day moving average price is $52.73 and its 200 day moving average price is $47.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business 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 earnings per share. The business’s quarterly 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 firm also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio is presently 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.