Convergence Investment Partners LLC Makes New $805,000 Investment in Fox Co. (NASDAQ:FOXA)

Convergence Investment Partners LLC bought a new position in shares of Fox Co. (NASDAQ:FOXA) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 16,561 shares of the company’s stock, valued at approximately $805,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of FOX during the 4th quarter valued at about $28,000. Brooklyn Investment Group grew its position in shares of FOX by 142.5% during the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after acquiring an additional 466 shares during the period. Quest Partners LLC acquired a new stake in FOX in the third quarter valued at approximately $51,000. Quarry LP acquired a new stake in FOX in the third quarter valued at approximately $70,000. Finally, Versant Capital Management Inc grew its holdings in FOX by 3,551.1% in the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after purchasing an additional 1,669 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FOXA shares. Moffett Nathanson cut shares of FOX from a “buy” rating to a “neutral” rating and lifted their price target for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. UBS Group lifted their target price on shares of FOX from $50.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company lifted their target price on shares of FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Bank of America boosted 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. Finally, JPMorgan Chase & Co. raised their target price on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.00.

Insider Activity

In other FOX 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $8,637,177.62. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

FOX Stock Performance

NASDAQ:FOXA opened at $57.48 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The firm has a market capitalization of $26.06 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.23 and a beta of 0.76. The company’s 50-day moving average is $50.43 and its two-hundred day moving average is $45.23. Fox Co. has a 1-year low of $28.28 and a 1-year high of $57.72.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 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 firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. Analysts forecast that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders 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%.

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.