Swiss National Bank Decreases Stake in Fox Co. (NASDAQ:FOXA)

Swiss National Bank cut its stake in shares of Fox Co. (NASDAQ:FOXA) by 8.3% in the fourth quarter, according to the company in its most recent disclosure 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 owned approximately 0.14% of FOX worth $30,549,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after buying an additional 249 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after purchasing an additional 262 shares during the last quarter. US Bancorp DE lifted its stake in FOX by 2.0% during the fourth quarter. US Bancorp DE now owns 14,520 shares of the company’s stock worth $705,000 after purchasing an additional 281 shares during the last quarter. Metis Global Partners LLC increased its stake in FOX by 2.8% in the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock valued at $524,000 after purchasing an additional 292 shares during the last quarter. Finally, Callan Capital LLC raised its holdings in FOX by 7.4% during the fourth quarter. Callan Capital LLC now owns 5,385 shares of the company’s stock worth $262,000 after purchasing an additional 371 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX 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 directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 position. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

FOX Stock Performance

NASDAQ FOXA opened at $52.46 on Tuesday. The stock has a market capitalization of $23.79 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.27 and a beta of 0.67. The business’s 50 day moving average is $52.73 and its two-hundred day moving average is $47.25. Fox Co. has a 12-month low of $29.35 and a 12-month high of $58.74. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping 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 analyst estimates of $4.78 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. FOX’s quarterly revenue was up 19.9% on a year-over-year basis. Research analysts expect that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors 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 11.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FOXA. JPMorgan Chase & Co. increased their target price on shares of FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Barclays upped their target price on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. Finally, Citigroup upped their price target on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.