Kingsview Wealth Management LLC Buys Shares of 70,353 Fox Co. (NASDAQ:FOXA)

Kingsview Wealth Management LLC purchased a new position in Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 70,353 shares of the company’s stock, valued at approximately $3,418,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Lecap Asset Management Ltd. purchased a new position in FOX in the fourth quarter worth about $600,000. Beese Fulmer Investment Management Inc. lifted its stake in shares of FOX by 5.9% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 9,029 shares of the company’s stock worth $439,000 after purchasing an additional 500 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of FOX in the fourth quarter worth approximately $28,000. Mirae Asset Global Investments Co. Ltd. grew its position in FOX by 75.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,902 shares of the company’s stock valued at $5,335,000 after buying an additional 46,684 shares during the period. Finally, Weaver Capital Management LLC increased its holdings in FOX by 31.0% during the fourth quarter. Weaver Capital Management LLC now owns 25,551 shares of the company’s stock valued at $1,241,000 after buying an additional 6,048 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FOXA shares. Guggenheim boosted 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. Macquarie reissued a “neutral” rating and set a $43.00 price target on shares of FOX in a report on Tuesday, November 5th. Citigroup raised their price objective on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company boosted their price objective on FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, StockNews.com cut shares of FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $50.19.

FOX Price Performance

FOX stock opened at $52.79 on Monday. Fox Co. has a 52-week low of $28.28 and a 52-week high of $55.56. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average is $49.03 and its 200 day moving average is $44.25. The company has a market cap of $24.11 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34. The firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 EPS. Sell-side analysts forecast that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued 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 11.56%.

Insider Activity

In related news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

About FOX

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.