Envestnet Portfolio Solutions Inc. Takes $206,000 Position in Fox Co. (NASDAQ:FOXA)

Envestnet Portfolio Solutions Inc. acquired a new position in Fox Co. (NASDAQ:FOXA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,243 shares of the company’s stock, valued at approximately $206,000.

Several other large investors also recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in shares of FOX by 5.4% during the fourth quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after purchasing an additional 425,186 shares in the last quarter. Amundi raised its position in shares of FOX by 9.9% in the fourth quarter. Amundi now owns 2,434,443 shares of the company’s stock valued at $119,006,000 after buying an additional 219,380 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of FOX by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,417,818 shares of the company’s stock worth $117,458,000 after buying an additional 37,505 shares in the last quarter. KBC Group NV boosted its position in FOX by 56.1% during the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock worth $115,022,000 after acquiring an additional 851,127 shares during the last quarter. Finally, Great Lakes Advisors LLC grew its stake in FOX by 3.0% during the 4th quarter. Great Lakes Advisors LLC now owns 1,688,515 shares of the company’s stock valued at $82,028,000 after acquiring an additional 49,365 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FOXA. UBS Group boosted their target price on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Guggenheim restated a “buy” rating and issued a $60.00 target price on shares of FOX in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Barclays boosted their target price on shares of FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group set a $60.00 price objective on FOX and gave the company a “buy” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.13.

FOX Stock Performance

NASDAQ:FOXA opened at $54.73 on Friday. The company has a market cap of $24.82 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a 52 week low of $30.02 and a 52 week high of $58.74. The company has a fifty day simple moving average of $53.69 and a two-hundred day simple moving average of $47.98.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate 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 revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, equities analysts anticipate that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company 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. The ex-dividend date was Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio is currently 11.56%.

Insiders Place Their Bets

In other news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were 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. This trade represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by company insiders.

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.