TD Private Client Wealth LLC Trims Stake in Fox Co. (NASDAQ:FOXA)

TD Private Client Wealth LLC reduced its stake in Fox Co. (NASDAQ:FOXA) by 3.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,348 shares of the company’s stock after selling 596 shares during the quarter. TD Private Client Wealth LLC’s holdings in FOX were worth $794,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of FOXA. Jupiter Asset Management Ltd. bought a new stake in FOX during the 4th quarter worth approximately $67,471,000. Jacobs Levy Equity Management Inc. raised its position in shares of FOX by 228.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after purchasing an additional 964,737 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of FOX by 308.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock valued at $59,174,000 after buying an additional 919,883 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in FOX by 3,077.5% in the 4th quarter. Allianz Asset Management GmbH now owns 885,476 shares of the company’s stock worth $43,016,000 after buying an additional 857,609 shares during the period. Finally, KBC Group NV increased its stake in FOX by 56.1% in the 4th quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock worth $115,022,000 after buying an additional 851,127 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

Insider Buying and Selling

In other news, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 completion of the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade 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 can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction 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 sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FOXA shares. Moffett Nathanson downgraded 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 report on Tuesday, January 21st. Bank of America upped their price target on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Loop Capital lifted their price objective on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company upped their target price on shares of FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Finally, UBS Group lifted their price target on shares of FOX from $50.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $51.19.

FOX Trading Up 0.4 %

Shares of NASDAQ FOXA opened at $53.40 on Monday. Fox Co. has a 1-year low of $30.02 and a 1-year high of $58.74. 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 business’s 50 day moving average is $53.06 and its two-hundred day moving average is $47.58. The stock has a market capitalization of $24.21 billion, a P/E ratio of 11.43, a PEG ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.34. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. FOX’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. As a group, research analysts expect that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio is presently 11.56%.

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.