Louisiana State Employees Retirement System Lowers Stock Holdings in Fox Co. (NASDAQ:FOXA)

Louisiana State Employees Retirement System lowered its holdings in Fox Co. (NASDAQ:FOXA) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,900 shares of the company’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in FOX were worth $578,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FOXA. Exchange Traded Concepts LLC purchased a new stake in shares of FOX in the third quarter valued at $141,000. Creative Planning grew its position in shares of FOX by 18.2% in the third quarter. Creative Planning now owns 34,617 shares of the company’s stock valued at $1,465,000 after purchasing an additional 5,340 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of FOX by 1.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock valued at $1,249,000 after purchasing an additional 451 shares during the period. Weaver Capital Management LLC grew its position in shares of FOX by 37.0% in the third quarter. Weaver Capital Management LLC now owns 19,503 shares of the company’s stock valued at $826,000 after purchasing an additional 5,272 shares during the period. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in shares of FOX in the third quarter valued at $259,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. The Goldman Sachs Group lifted their target price on FOX from $51.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. TD Cowen lifted their target price on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Guggenheim lifted their target price on FOX from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Finally, Bank of America lifted their target price on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $51.00.

Insider Activity at FOX

In other news, 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 transaction of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This 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 the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

FOX Trading Up 1.2 %

NASDAQ:FOXA opened at $56.29 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.50. Fox Co. has a one year low of $28.28 and a one year high of $56.37. The business’s 50-day simple moving average is $50.01 and its 200 day simple moving average is $45.01. The stock has a market cap of $25.71 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data 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 firm had revenue of $5.08 billion during 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 earnings per share. As a group, sell-side analysts predict that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

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