44 Wealth Management LLC Sells 640 Shares of Fox Co. (NASDAQ:FOXA)

44 Wealth Management LLC lowered its stake in shares of Fox Co. (NASDAQ:FOXA) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,528 shares of the company’s stock after selling 640 shares during the quarter. 44 Wealth Management LLC’s holdings in FOX were worth $511,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of FOX by 5.4% during the fourth quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after buying an additional 425,186 shares during the last quarter. KBC Group NV lifted its holdings in shares of FOX by 56.1% during the fourth 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 during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings 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 worth $58,716,000 after buying an additional 964,737 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of FOX by 308.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock worth $59,174,000 after buying an additional 919,883 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of FOX by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after buying an additional 110,753 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Loop Capital upped their price target on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Macquarie reiterated a “neutral” rating and set a $43.00 price target on shares of FOX in a report on Tuesday, November 5th. TD Cowen upped their target price on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Morgan Stanley upped their target price on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company upped their target price on FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.19.

Insider Transactions at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction 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 sale, the insider now owns 29,897 shares in the company, 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 this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were 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.

FOX Stock Performance

FOX stock opened at $56.95 on Friday. 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 stock has a fifty day moving average price of $50.83 and a two-hundred day moving average price of $45.51. Fox Co. has a 52-week low of $28.28 and a 52-week high of $58.12. The firm has a market capitalization of $25.82 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 quarterly earnings data 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 firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, analysts anticipate that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. 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%.

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.