Kingsview Wealth Management LLC Purchases New Position in Fox Co. (NASDAQ:FOXA)

Kingsview Wealth Management LLC acquired a new position in shares of Fox Co. (NASDAQ:FOXA) during the 4th quarter, Holdings Channel.com reports. The firm acquired 70,353 shares of the company’s stock, valued at approximately $3,418,000.

Several other institutional investors also recently bought and sold shares of FOXA. Crossmark Global Holdings Inc. boosted its stake in shares of FOX by 1.7% during the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after purchasing an additional 385 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of FOX by 4.1% in the 4th quarter. Ritholtz Wealth Management now owns 10,104 shares of the company’s stock valued at $491,000 after acquiring an additional 399 shares during the period. Kathmere Capital Management LLC raised its holdings in FOX by 9.0% in the fourth quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock worth $255,000 after purchasing an additional 431 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of FOX by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock valued at $1,249,000 after buying an additional 451 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in shares of FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after buying an additional 466 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Stock Performance

Shares of FOXA stock opened at $52.79 on Monday. The stock has a market cap of $24.11 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76. Fox Co. has a 52-week low of $28.28 and a 52-week high of $55.56. The business has a 50-day simple moving average of $49.03 and a 200-day simple moving average of $44.25. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.62 by $0.34. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, equities analysts expect that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio is presently 11.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FOXA shares. Barclays raised their target price on shares of FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Loop Capital boosted their target price on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Evercore ISI upgraded FOX to a “hold” rating in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their price target on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, Guggenheim increased their price objective on shares of FOX from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. One 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. Based on data from MarketBeat, FOX has an average rating of “Hold” and a consensus price target of $50.19.

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’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 value of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate 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.