Fox Co. (NASDAQ:FOXA) Stake Boosted by Picton Mahoney Asset Management

Picton Mahoney Asset Management increased its stake in Fox Co. (NASDAQ:FOXA) by 42,834.5% during the fourth quarter, HoldingsChannel reports. The firm owned 12,451 shares of the company’s stock after acquiring an additional 12,422 shares during the period. Picton Mahoney Asset Management’s holdings in FOX were worth $604,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. increased its stake in FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after purchasing an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in FOX during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp grew its stake in FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after acquiring an additional 249 shares in the last quarter. Brooklyn Investment Group grew its stake in 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 in the last quarter. Finally, Quest Partners LLC purchased a new position in FOX during the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup lifted their target price on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. StockNews.com cut FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. UBS Group lifted their target price on FOX from $50.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and lifted their target price for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. Finally, Guggenheim lifted their target price on FOX from $55.00 to $60.00 and gave the company a “buy” rating in a research note 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.19.

FOX Stock Up 2.4 %

FOXA opened at $52.28 on Friday. The business has a 50 day moving average price of $52.67 and a 200 day moving average price of $47.13. Fox Co. has a twelve month low of $29.29 and a twelve month high of $58.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The firm has a market cap of $23.71 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS 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 company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. Research 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 issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio (DPR) is presently 11.56%.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following 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 disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

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.