Great Lakes Advisors LLC Grows Stake in Fox Co. (NASDAQ:FOXA)

Great Lakes Advisors LLC raised its holdings in shares of Fox Co. (NASDAQ:FOXA) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,688,515 shares of the company’s stock after buying an additional 49,365 shares during the period. Great Lakes Advisors LLC owned about 0.37% of FOX worth $82,028,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FOXA. SRS Capital Advisors Inc. grew its holdings in shares of FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after buying an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of FOX in the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp lifted its position in FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after buying an additional 249 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of FOX by 142.5% during the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after acquiring an additional 466 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of FOX during the 3rd quarter valued at about $51,000. Institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

NASDAQ FOXA opened at $52.72 on Wednesday. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. Fox Co. has a 1-year low of $29.14 and a 1-year high of $58.74. The company has a 50 day moving average of $52.50 and a 200-day moving average of $46.94. The firm has a market cap of $23.90 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share 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 net margin of 14.39% and a return on equity of 18.50%. FOX’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. On average, equities analysts forecast that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have issued reports on FOXA. Guggenheim boosted their price target on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. UBS Group increased their price target on shares of FOX from $50.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Loop Capital increased their price objective on FOX from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group set a $60.00 price target on FOX and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Citigroup raised their target price on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.19.

Insider Buying and Selling

In other news, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

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.