Proficio Capital Partners LLC Buys Shares of 159,871 Fox Co. (NASDAQ:FOXA)

Proficio Capital Partners LLC acquired a new position in Fox Co. (NASDAQ:FOXA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 159,871 shares of the company’s stock, valued at approximately $7,767,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FOXA. Pacer Advisors Inc. increased its stake in shares of FOX by 44,205.3% in the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after purchasing an additional 7,897,710 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in FOX by 228.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after acquiring an additional 964,737 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of FOX by 308.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock worth $59,174,000 after acquiring an additional 919,883 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of FOX by 3,077.5% in the fourth quarter. Allianz Asset Management GmbH now owns 885,476 shares of the company’s stock worth $43,016,000 after acquiring an additional 857,609 shares during the period. Finally, KBC Group NV grew its position in shares of FOX by 56.1% in the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock valued at $115,022,000 after purchasing an additional 851,127 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on FOXA shares. Loop Capital raised their target price on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Guggenheim upped their price objective on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Citigroup lifted their target price on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Bank of America increased their price target on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. 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, FOX has an average rating of “Hold” and an average price target of $51.19.

FOX Stock Performance

NASDAQ:FOXA opened at $52.28 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. Fox Co. has a fifty-two week low of $29.29 and a fifty-two week high of $58.74. The firm has a market cap of $23.71 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The business has a 50 day moving average price of $52.67 and a 200-day moving average price of $47.13.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company’s revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. Equities research analysts predict that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

The firm 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 $0.27 dividend. This represents a yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is currently 11.56%.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX 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 sale, the chairman now directly owns 1,200,862 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, 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 disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

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.