Brandywine Global Investment Management LLC Acquires 13,642 Shares of Fox Co. (NASDAQ:FOXA)

Brandywine Global Investment Management LLC raised its stake in shares of Fox Co. (NASDAQ:FOXA) by 3.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 471,271 shares of the company’s stock after purchasing an additional 13,642 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in FOX were worth $22,894,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new position in shares of FOX during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. raised its stake in FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after buying an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of FOX during the 4th quarter valued at $28,000. Jones Financial Companies Lllp boosted its stake in shares of FOX by 61.5% in 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. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after acquiring an additional 368 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Trading Down 0.3 %

FOXA opened at $54.73 on Monday. 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 stock’s 50 day moving average price is $53.69 and its 200-day moving average price is $48.10. Fox Co. has a one year low of $30.02 and a one year high of $58.74. The stock has a market cap of $24.82 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company posted $0.34 EPS. FOX’s quarterly revenue was up 19.9% on a year-over-year basis. On average, equities analysts forecast that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

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

Analyst Upgrades and Downgrades

FOXA has been the topic of several research reports. Citigroup raised their target price on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised their price objective on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and increased their price target for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Guggenheim reissued a “buy” rating and set a $60.00 price objective on shares of FOX in a research report on Tuesday, March 25th. Finally, The Goldman Sachs Group set a $60.00 target price on FOX and gave the stock a “buy” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.13.

Insider Activity at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the firm’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 transaction of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 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 position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by company insiders.

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.