Jupiter Asset Management Ltd. Purchases New Holdings in Fox Co. (NASDAQ:FOXA)

Jupiter Asset Management Ltd. bought a new stake in Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,388,858 shares of the company’s stock, valued at approximately $67,471,000. Jupiter Asset Management Ltd. owned 0.30% of FOX at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp grew its stake in FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after buying an additional 249 shares during the last quarter. SRS Capital Advisors Inc. increased its position in shares of FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after purchasing an additional 262 shares in the last quarter. US Bancorp DE grew its holdings in shares of FOX by 2.0% during the fourth quarter. US Bancorp DE now owns 14,520 shares of the company’s stock worth $705,000 after purchasing an additional 281 shares during the last quarter. Metis Global Partners LLC lifted its position in shares of FOX by 2.8% during the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock worth $524,000 after purchasing an additional 292 shares in the last quarter. Finally, Callan Capital LLC increased its stake in shares of FOX by 7.4% in the 4th quarter. Callan Capital LLC now owns 5,385 shares of the company’s stock valued at $262,000 after buying an additional 371 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction 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 $1,618,324.61. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s 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 approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Stock Performance

Shares of NASDAQ FOXA opened at $52.72 on Wednesday. The firm’s fifty day moving average is $52.50 and its two-hundred day moving average is $46.94. Fox Co. has a 52-week low of $29.14 and a 52-week high of $58.74. The company has a market cap of $23.90 billion, a P/E ratio of 11.29, a P/E/G 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 (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34. The firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 EPS. As a group, analysts anticipate that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays increased their target price on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. increased their price target on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Loop Capital lifted their target price on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company boosted their price target on FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group set a $60.00 price target on shares of FOX and gave the company a “buy” rating in a report on Tuesday, February 4th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $51.19.

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.