Great Lakes Advisors LLC Has $82.03 Million Stake in Fox Co. (NASDAQ:FOXA)

Great Lakes Advisors LLC raised its stake in shares of Fox Co. (NASDAQ:FOXA) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,688,515 shares of the company’s stock after purchasing an additional 49,365 shares during the period. Great Lakes Advisors LLC’s holdings in FOX were worth $82,028,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its holdings in FOX by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 291,051 shares of the company’s stock valued at $12,320,000 after acquiring an additional 1,178 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of FOX by 1.7% during the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after acquiring an additional 385 shares during the last quarter. Entropy Technologies LP bought a new position in FOX in the third quarter worth about $546,000. GSA Capital Partners LLP bought a new position in FOX in the third quarter worth about $620,000. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of FOX by 69.6% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 16,674 shares of the company’s stock valued at $706,000 after purchasing an additional 6,843 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Down 2.6 %

FOXA opened at $52.72 on Wednesday. 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 1 year low of $29.14 and a 1 year high of $58.74. The firm has a 50 day moving average price of $52.50 and a 200 day moving average price of $46.94. The company has a market cap of $23.90 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67.

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

FOX Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FOXA shares. Barclays lifted their target price on shares of FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Guggenheim boosted their target price on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Citigroup upped their price target on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Bank of America upped their target price on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company upped their price target on shares of FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.19.

Insiders Place Their Bets

In related news, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’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 sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is 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.