Northwest & Ethical Investments L.P. Acquires Shares of 19,647 Fox Co. (NASDAQ:FOXA)

Northwest & Ethical Investments L.P. bought a new stake in Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 19,647 shares of the company’s stock, valued at approximately $954,000.

A number of other hedge funds have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in FOX by 63.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,024 shares of the company’s stock worth $2,284,000 after purchasing an additional 18,321 shares in the last quarter. iA Global Asset Management Inc. grew its stake in FOX by 184.0% in the fourth quarter. iA Global Asset Management Inc. now owns 47,997 shares of the company’s stock worth $2,332,000 after purchasing an additional 31,098 shares in the last quarter. Teacher Retirement System of Texas grew its stake in FOX by 157.0% in the fourth quarter. Teacher Retirement System of Texas now owns 259,276 shares of the company’s stock worth $12,596,000 after purchasing an additional 158,384 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in FOX by 16.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 109,875 shares of the company’s stock worth $5,338,000 after purchasing an additional 15,276 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in FOX in the fourth quarter worth about $865,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Price Performance

NASDAQ FOXA opened at $53.40 on Friday. Fox Co. has a 12 month low of $29.89 and a 12 month high of $58.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The firm has a market capitalization of $24.21 billion, a PE ratio of 11.43, a P/E/G ratio of 1.27 and a beta of 0.67. The company’s 50 day simple moving average is $53.06 and its 200 day simple moving average is $47.49.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. As a group, equities research analysts forecast that Fox Co. will post 4.38 EPS for the current fiscal 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 paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio is presently 11.56%.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX 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 transaction, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at approximately $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 currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Guggenheim raised 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. Moffett Nathanson cut shares of FOX from a “buy” rating to a “neutral” rating and raised their target price for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Citigroup raised their target price on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Loop Capital raised their target price on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Bank of America raised their target price 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 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, FOX presently has a consensus rating of “Hold” and an average price target of $51.19.

About FOX

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.