KLP Kapitalforvaltning AS Takes Position in Fox Co. (NASDAQ:FOXA)

KLP Kapitalforvaltning AS purchased a new stake in shares of Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 290,200 shares of the company’s stock, valued at approximately $14,098,000. KLP Kapitalforvaltning AS owned approximately 0.06% of FOX at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FOXA. Quest Partners LLC acquired a new stake in shares of FOX during the third quarter valued at about $51,000. Commerce Bank acquired a new stake in shares of FOX during the third quarter valued at about $301,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of FOX by 7.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 261,089 shares of the company’s stock valued at $11,052,000 after purchasing an additional 17,149 shares in the last quarter. Citigroup Inc. boosted its stake in shares of FOX by 35.3% during the third quarter. Citigroup Inc. now owns 593,104 shares of the company’s stock valued at $25,106,000 after purchasing an additional 154,680 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of FOX by 98.3% during the third quarter. Cerity Partners LLC now owns 34,198 shares of the company’s stock valued at $1,448,000 after purchasing an additional 16,950 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Trading Up 0.4 %

NASDAQ FOXA opened at $53.40 on Monday. The company has a market cap of $24.21 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 1.27 and a beta of 0.67. Fox Co. has a 52 week low of $30.02 and a 52 week high of $58.74. The business has a 50 day moving average price of $53.06 and a 200-day moving average price of $47.58. The company has a quick ratio of 2.14, 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, beating the consensus estimate of $0.62 by $0.34. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 earnings per share. As a group, equities analysts expect that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be issued 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 (DPR) is currently 11.56%.

Insider Buying and Selling

In related news, insider Adam G. Ciongoli sold 1,278 shares of the company’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 in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. Guggenheim lifted their price objective on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Bank of America lifted their price objective on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price objective on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group set a $60.00 price objective on FOX and gave the stock a “buy” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, FOX presently has a consensus 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.