Principal Financial Group Inc. Lowers Stock Holdings in Fox Co. (NASDAQ:FOXA)

Principal Financial Group Inc. trimmed its position in shares of Fox Co. (NASDAQ:FOXA) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 285,242 shares of the company’s stock after selling 5,809 shares during the quarter. Principal Financial Group Inc. owned 0.06% of FOX worth $13,857,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FOXA. Crossmark Global Holdings Inc. raised its position in shares of FOX by 1.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock worth $991,000 after acquiring an additional 385 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of FOX by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 10,104 shares of the company’s stock worth $491,000 after acquiring an additional 399 shares in the last quarter. Kathmere Capital Management LLC raised its position in shares of FOX by 9.0% during the 4th quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock worth $255,000 after acquiring an additional 431 shares in the last quarter. Brooklyn Investment Group raised its position in shares of FOX by 142.5% during the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after acquiring an additional 466 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. raised its position in shares of FOX by 5.9% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 9,029 shares of the company’s stock worth $439,000 after acquiring an additional 500 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FOXA has been the topic of several research 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 report on Wednesday, December 18th. UBS Group lifted their price target on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price target on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Morgan Stanley lifted their price target on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lifted 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 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.19.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

FOX Stock Down 0.1 %

FOXA opened at $56.84 on Thursday. The business’s fifty day moving average is $51.36 and its two-hundred day moving average is $45.89. 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 company has a market cap of $25.77 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.27 and a beta of 0.76. Fox Co. has a one year low of $28.28 and a one year high of $58.38.

FOX (NASDAQ:FOXA) last posted its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.34 earnings per share. Analysts anticipate that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

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