American Century Companies Inc. Reduces Holdings in Fox Co. (NASDAQ:FOXA)

American Century Companies Inc. cut its position in Fox Co. (NASDAQ:FOXA) by 25.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 223,671 shares of the company’s stock after selling 75,215 shares during the quarter. American Century Companies Inc.’s holdings in FOX were worth $10,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FOXA. Cerity Partners LLC increased its position in shares of FOX by 98.3% during the third quarter. Cerity Partners LLC now owns 34,198 shares of the company’s stock worth $1,448,000 after acquiring an additional 16,950 shares during the last quarter. FMR LLC increased its holdings in FOX by 9.0% during the 3rd quarter. FMR LLC now owns 554,019 shares of the company’s stock worth $23,452,000 after purchasing an additional 45,531 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of FOX by 18.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,869 shares of the company’s stock valued at $2,831,000 after buying an additional 10,261 shares during the last quarter. Paloma Partners Management Co grew its position in shares of FOX by 672.7% during the third quarter. Paloma Partners Management Co now owns 17,000 shares of the company’s stock worth $720,000 after buying an additional 14,800 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of FOX by 228.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after buying an additional 964,737 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of research analyst reports. Guggenheim reiterated a “buy” rating and set a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. 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 note on Wednesday, February 5th. Barclays upped their price objective on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 target price on FOX and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, UBS Group raised their price objective on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, FOX has a consensus rating of “Hold” and an average price target of $51.56.

FOX Price Performance

NASDAQ FOXA opened at $57.04 on Thursday. The company has a 50-day moving average price of $54.19 and a two-hundred day moving average price of $48.39. Fox Co. has a 52 week low of $30.02 and a 52 week high of $58.74. The stock has a market cap of $25.86 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. 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 (NASDAQ:FOXA) last issued its quarterly earnings data 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. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the company posted $0.34 EPS. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. Analysts forecast that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were issued a $0.27 dividend. This represents a yield of 1%. The ex-dividend date was Wednesday, March 5th. FOX’s payout ratio is currently 11.56%.

Insider Activity at FOX

In related 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 completion of the transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction dated 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 sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $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 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.