Arizona State Retirement System Lowers Stock Holdings in Fox Co. (NASDAQ:FOXA)

Arizona State Retirement System lessened its position in Fox Co. (NASDAQ:FOXA) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,655 shares of the company’s stock after selling 1,569 shares during the quarter. Arizona State Retirement System’s holdings in FOX were worth $3,141,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in FOX by 44,205.3% during the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after purchasing an additional 7,897,710 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of FOX by 228.4% in 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 purchasing an additional 964,737 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in FOX by 308.5% during the 4th 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 period. Allianz Asset Management GmbH lifted its holdings in FOX by 3,077.5% during the 4th quarter. Allianz Asset Management GmbH now owns 885,476 shares of the company’s stock worth $43,016,000 after buying an additional 857,609 shares in the last quarter. Finally, KBC Group NV boosted its position in FOX by 56.1% in the 4th quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock valued at $115,022,000 after buying an additional 851,127 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Up 0.5 %

FOXA opened at $55.67 on Monday. The stock has a market capitalization of $25.24 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. Fox Co. has a one year low of $28.67 and a one year high of $58.74. The business’s 50-day simple moving average is $52.31 and its 200-day simple moving average is $46.77.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business posted $0.34 earnings per share. FOX’s quarterly revenue was up 19.9% on a year-over-year basis. Analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid 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 11.56%.

Insiders Place Their Bets

In related news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade 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 available at this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Bank of America upped their price objective on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. StockNews.com lowered FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group set a $60.00 price objective on FOX and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Citigroup upped their target price on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.19.

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.