California Public Employees Retirement System Lowers Position in Fox Co. (NASDAQ:FOXA)

California Public Employees Retirement System decreased its position in shares of Fox Co. (NASDAQ:FOXA) by 2.9% during the fourth quarter, Holdings Channel reports. The fund owned 762,722 shares of the company’s stock after selling 22,389 shares during the period. California Public Employees Retirement System’s holdings in FOX were worth $37,053,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. WealthTrak Capital Management LLC bought a new stake in shares of FOX during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. lifted its position in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after buying an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of FOX during the 4th quarter valued at $28,000. Jones Financial Companies Lllp grew its position in shares of FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after buying an additional 249 shares during the period. Finally, Brooklyn Investment Group increased its stake in shares of FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after acquiring an additional 466 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

Insider Transactions at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’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 transaction of $3,083,860.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’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 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 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. Corporate insiders own 21.77% of the company’s stock.

FOX Price Performance

NASDAQ FOXA opened at $57.04 on Thursday. The stock has a market capitalization of $25.86 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.27 and a beta of 0.51. Fox Co. has a 1-year low of $30.02 and a 1-year 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 business’s fifty day moving average price is $54.19 and its 200-day moving average price is $48.39.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, equities analysts predict that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on FOXA shares. The Goldman Sachs Group set a $60.00 price objective on shares of FOX and gave the stock a “buy” rating in a research note on Tuesday, February 4th. UBS Group boosted their price target on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Bank of America raised their price objective on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Guggenheim reissued a “buy” rating and issued a $60.00 target price on shares of FOX in a research note on Tuesday, March 25th. Finally, Loop Capital lifted their price target on FOX from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday. One 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $51.56.

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.