New York State Common Retirement Fund Sells 15,000 Shares of Fox Co. (NASDAQ:FOXA)

New York State Common Retirement Fund trimmed its holdings in Fox Co. (NASDAQ:FOXA) by 10.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 133,640 shares of the company’s stock after selling 15,000 shares during the quarter. New York State Common Retirement Fund’s holdings in FOX were worth $6,492,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FOXA. Pacer Advisors Inc. boosted its holdings in shares of FOX by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock valued at $405,194,000 after acquiring an additional 425,186 shares during the last quarter. KBC Group NV boosted its holdings in FOX by 56.1% in the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock worth $115,022,000 after purchasing an additional 851,127 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in FOX by 228.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after purchasing an additional 964,737 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in 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 during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of 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 buying an additional 110,753 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Stock Down 0.1 %

Shares of FOXA opened at $56.84 on Thursday. The business’s 50 day moving average is $51.36 and its 200 day moving average is $45.89. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. Fox Co. has a 12-month low of $28.28 and a 12-month high of $58.38. The company has a market capitalization of $25.77 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.27 and a beta of 0.76.

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

FOX Dividend Announcement

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 issued 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 (DPR) is presently 11.56%.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s 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 owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on FOXA shares. Guggenheim lifted their price objective on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. TD Cowen upped their price target on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Macquarie reiterated a “neutral” rating and issued a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Morgan Stanley boosted their target price on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, Loop Capital increased their price target on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, FOX has an average rating of “Hold” and a consensus price target of $51.19.

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.