Harvest Fund Management Co. Ltd Acquires Shares of 17,820 Fox Co. (NASDAQ:FOXA)

Harvest Fund Management Co. Ltd acquired a new stake in shares of Fox Co. (NASDAQ:FOXA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,820 shares of the company’s stock, valued at approximately $865,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in FOX by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock valued at $47,649,000 after acquiring an additional 110,753 shares during the last quarter. Invst LLC purchased a new stake in FOX during the 3rd quarter valued at approximately $740,000. Asset Management One Co. Ltd. raised its stake in FOX by 25.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock valued at $5,856,000 after acquiring an additional 23,704 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in FOX during the 3rd quarter valued at approximately $2,867,000. Finally, Park Avenue Securities LLC raised its stake in FOX by 32.4% during the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock valued at $752,000 after acquiring an additional 3,787 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction dated 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 transaction, the chairman now 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 legal filing with the SEC, which can be accessed through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on FOXA. Loop Capital upped their price objective on FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and raised their price target for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Bank of America raised their price target on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company raised their price target on FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Finally, UBS Group raised their price target on FOX from $50.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $51.19.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $53.21 on Friday. The company has a market cap of $24.13 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.27 and a beta of 0.67. 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 Co. has a 52 week low of $29.89 and a 52 week high of $58.74. The business has a fifty day simple moving average of $52.95 and a 200-day simple moving average of $47.41.

FOX (NASDAQ:FOXA) last announced 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 business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. Equities research analysts forecast 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. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio 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.