Wells Fargo & Company MN Reduces Stake in Fox Co. (NASDAQ:FOXA)

Wells Fargo & Company MN trimmed its holdings in shares of Fox Co. (NASDAQ:FOXA) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 613,879 shares of the company’s stock after selling 18,182 shares during the quarter. Wells Fargo & Company MN owned approximately 0.13% of FOX worth $29,822,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. WealthTrak Capital Management LLC purchased a new stake in FOX in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. boosted its position in shares of FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after purchasing an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of FOX in the fourth quarter worth $28,000. Jones Financial Companies Lllp raised its position in shares of FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after purchasing an additional 249 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after buying an additional 368 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FOXA. StockNews.com cut FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and boosted their target price for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Bank of America boosted their target price on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.06.

FOX Trading Down 1.3 %

NASDAQ FOXA opened at $48.89 on Friday. Fox Co. has a 52 week low of $30.02 and a 52 week high of $58.74. The company has a 50 day moving average price of $53.98 and a 200 day moving average price of $48.89. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a market cap of $22.17 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51.

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. The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, sell-side analysts forecast that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction 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 transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61 % 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.

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.