WealthTrak Capital Management LLC Acquires New Position in Fox Co. (NASDAQ:FOXA)

WealthTrak Capital Management LLC bought a new position in Fox Co. (NASDAQ:FOXA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 537 shares of the company’s stock, valued at approximately $26,000.

Several other institutional investors also recently bought and sold shares of FOXA. JPMorgan Chase & Co. boosted its position in shares of FOX by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after acquiring an additional 110,753 shares during the last quarter. Invst LLC purchased a new position in shares of FOX in the 3rd quarter worth about $740,000. Asset Management One Co. Ltd. grew its holdings in shares of FOX by 25.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock worth $5,856,000 after purchasing an additional 23,704 shares during the period. Park Avenue Securities LLC increased its position in FOX by 32.4% during the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after purchasing an additional 3,787 shares in the last quarter. Finally, Brookstone Capital Management purchased a new position in FOX in the fourth quarter valued at approximately $492,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on FOXA. Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Bank of America boosted their price target on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group set a $60.00 price objective on shares of FOX and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, UBS Group boosted their price target on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.13.

Insider Activity at FOX

In other news, 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $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 Stock Performance

Shares of NASDAQ FOXA opened at $54.73 on Friday. The stock has a market capitalization of $24.82 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.27 and a beta of 0.67. The firm’s 50-day moving average price is $53.69 and its two-hundred day moving average price is $47.98. Fox Co. has a 52-week low of $30.02 and a 52-week high of $58.74. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating 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 previous year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

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

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.