Vanguard Group Inc. Sells 2,628,553 Shares of Fox Co. (NASDAQ:FOXA)

Vanguard Group Inc. reduced its stake in Fox Co. (NASDAQ:FOXA) by 9.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,220,793 shares of the company’s stock after selling 2,628,553 shares during the quarter. Vanguard Group Inc. owned approximately 5.52% of FOX worth $1,225,226,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in shares of FOX by 5.4% in the fourth quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock valued at $405,194,000 after buying an additional 425,186 shares during the period. Amundi grew its holdings in shares of FOX by 9.9% during the fourth quarter. Amundi now owns 2,434,443 shares of the company’s stock worth $119,006,000 after purchasing an additional 219,380 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of FOX by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,417,818 shares of the company’s stock valued at $117,458,000 after buying an additional 37,505 shares in the last quarter. KBC Group NV lifted its holdings in shares of FOX by 56.1% in the 4th 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 boosted its holdings 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 during the period. 52.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 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 transaction of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

FOX Stock Performance

Shares of NASDAQ FOXA opened at $54.92 on Friday. The stock has a market cap of $24.90 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. Fox Co. has a 1 year low of $30.02 and a 1 year high of $58.74. The firm has a fifty day moving average price of $53.55 and a 200-day moving average price of $47.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14.

FOX (NASDAQ:FOXA) last issued 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. 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 quarter in the prior year, the business posted $0.34 EPS. FOX’s revenue for the quarter was up 19.9% compared to the same quarter last year. Equities analysts anticipate that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were paid a dividend of $0.27 per share. This represents a yield of 1%. The ex-dividend date was Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is presently 11.56%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FOXA shares. Moffett Nathanson cut shares of FOX from a “buy” rating to a “neutral” rating and lifted their price target for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Citigroup lifted their price objective on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note 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. Wells Fargo & Company dropped their target price on shares of FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, UBS Group increased their price target on FOX from $50.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.13.

FOX 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.