Handelsbanken Fonder AB Acquires 27,024 Shares of Fox Co. (NASDAQ:FOXA)

Handelsbanken Fonder AB increased its position in shares of Fox Co. (NASDAQ:FOXA) by 184.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,704 shares of the company’s stock after acquiring an additional 27,024 shares during the quarter. Handelsbanken Fonder AB’s holdings in FOX were worth $2,026,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FOXA. JPMorgan Chase & Co. lifted its holdings in shares of FOX by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock valued at $47,649,000 after purchasing an additional 110,753 shares in the last quarter. Entropy Technologies LP bought a new stake in FOX during the third quarter worth about $546,000. Invst LLC bought a new stake in shares of FOX during the 3rd quarter worth approximately $740,000. Asset Management One Co. Ltd. lifted its stake in FOX by 25.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock valued at $5,856,000 after acquiring an additional 23,704 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in FOX in the 3rd quarter valued at about $2,867,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Trading Down 1.9 %

Shares of NASDAQ:FOXA opened at $56.91 on Wednesday. The business’s 50 day simple moving average is $51.21 and its 200 day simple moving average is $45.81. Fox Co. has a 1 year low of $28.28 and a 1 year high of $58.38. 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 company has a market capitalization of $25.80 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.27 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released 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. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. FOX’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 EPS. On average, research analysts anticipate that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s payout ratio is presently 11.56%.

Wall Street Analysts Forecast Growth

FOXA has been the topic of several research analyst reports. Guggenheim upped their price objective on FOX from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Morgan Stanley increased their price target on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. TD Cowen lifted their price objective on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Macquarie restated a “neutral” rating and set a $43.00 target price on shares of FOX in a research note on Tuesday, November 5th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $51.19.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value 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. This represents a 4.10 % 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 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.