Rhumbline Advisers Lowers Position in Fox Co. (NASDAQ:FOXA)

Rhumbline Advisers lessened its holdings in Fox Co. (NASDAQ:FOXA) by 5.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 420,113 shares of the company’s stock after selling 23,276 shares during the period. Rhumbline Advisers owned 0.09% of FOX worth $20,409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. raised its position in FOX by 1.7% during the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after purchasing an additional 385 shares in the last quarter. Ritholtz Wealth Management grew its stake in shares of FOX by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 10,104 shares of the company’s stock valued at $491,000 after buying an additional 399 shares during the last quarter. Kathmere Capital Management LLC grew its stake in shares of FOX by 9.0% during the fourth quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock valued at $255,000 after buying an additional 431 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after purchasing an additional 466 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. grew its stake in shares of FOX by 5.9% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 9,029 shares of the company’s stock worth $439,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Price Performance

NASDAQ FOXA opened at $57.40 on Friday. The business’s fifty day moving average price is $50.64 and its 200-day moving average price is $45.32. The stock has a market capitalization of $26.03 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.24 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. Fox Co. has a 1-year low of $28.28 and a 1-year high of $57.72.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping 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 revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS. On average, equities analysts predict that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

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

Insiders Place Their Bets

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on 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 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FOXA has been the topic of several recent analyst reports. Citigroup raised their target price on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lifted their price objective on FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Macquarie reiterated a “neutral” rating and set a $43.00 target price on shares of FOX in a report on Tuesday, November 5th. Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, FOX has an average rating of “Hold” and an average price target of $51.00.

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.