Beese Fulmer Investment Management Inc. Grows Stock Holdings in Fox Co. (NASDAQ:FOXA)

Beese Fulmer Investment Management Inc. lifted its stake in shares of Fox Co. (NASDAQ:FOXA) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,029 shares of the company’s stock after acquiring an additional 500 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in FOX were worth $439,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. increased its holdings in FOX by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after purchasing an additional 425,186 shares during the period. KBC Group NV grew its position in shares of FOX by 56.1% during the 4th quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock worth $115,022,000 after buying an additional 851,127 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of FOX by 228.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after buying an additional 964,737 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of FOX by 308.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock valued at $59,174,000 after acquiring an additional 919,883 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in 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 period. Institutional investors own 52.52% of the company’s stock.

FOX Price Performance

NASDAQ FOXA opened at $53.24 on Friday. The company has a market cap of $24.32 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The stock’s fifty day moving average price is $48.79 and its 200 day moving average price is $44.03. Fox Co. has a 1 year low of $28.28 and a 1 year high of $55.56.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis. As a group, equities research analysts forecast that Fox Co. will post 4.12 earnings per share for the current year.

FOX Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.27 per share. This represents a yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio is presently 13.20%.

Insider Buying and Selling at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the business’s 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 completion of the transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on FOXA. Morgan Stanley raised their target price on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Bank of America boosted their price objective 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. Guggenheim increased their target price on FOX from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays boosted their price target on FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Loop Capital raised their price objective on FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.19.

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.