Strs Ohio Boosts Holdings in Fox Corporation $FOXA

Strs Ohio boosted its position in Fox Corporation (NASDAQ:FOXA) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,444 shares of the company’s stock after purchasing an additional 23,475 shares during the quarter. Strs Ohio owned about 0.07% of FOX worth $24,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of FOXA. Winnow Wealth LLC purchased a new stake in shares of FOX during the third quarter worth about $1,238,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of FOX by 23.0% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 150,522 shares of the company’s stock worth $9,492,000 after purchasing an additional 28,118 shares during the period. SG Americas Securities LLC boosted its holdings in shares of FOX by 346.6% during the fourth quarter. SG Americas Securities LLC now owns 128,029 shares of the company’s stock worth $9,355,000 after purchasing an additional 99,363 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of FOX by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 1,924,975 shares of the company’s stock worth $121,389,000 after purchasing an additional 16,757 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of FOX by 3.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 572,145 shares of the company’s stock worth $41,807,000 after purchasing an additional 16,716 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FOXA. Citigroup increased their target price on shares of FOX from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $80.00 target price on shares of FOX in a report on Wednesday, February 4th. Argus upgraded shares of FOX to a “hold” rating in a report on Thursday, February 19th. Zacks Research lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Finally, Evercore raised their price objective on shares of FOX from $66.00 to $70.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, FOX has a consensus rating of “Hold” and a consensus price target of $72.93.

FOX Price Performance

Shares of NASDAQ FOXA opened at $63.35 on Friday. Fox Corporation has a fifty-two week low of $47.66 and a fifty-two week high of $76.39. The company has a 50 day simple moving average of $59.78 and a two-hundred day simple moving average of $64.64. The company has a market capitalization of $26.95 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 7.80 and a beta of 0.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.44 and a current ratio of 2.78.

FOX (NASDAQ:FOXA) last announced its earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.35. FOX had a net margin of 11.41% and a return on equity of 18.14%. The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts expect that Fox Corporation will post 4.6 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a dividend yield of 83.0%. FOX’s dividend payout ratio (DPR) is currently 13.46%.

Insider Buying and Selling

In other FOX news, COO John Nallen sold 242,309 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $57.74, for a total transaction of $13,990,921.66. Following the completion of the transaction, the chief operating officer owned 357,653 shares of the company’s stock, valued at approximately $20,650,884.22. This trade represents a 40.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the sale, the chief executive officer directly owned 152 shares of the company’s stock, valued at $8,846.40. This trade represents a 99.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,586,871 shares of company stock valued at $91,893,926 in the last ninety days. Insiders own 19.68% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.