KLP Kapitalforvaltning AS Makes New $14.10 Million Investment in Fox Co. (NASDAQ:FOXA)

KLP Kapitalforvaltning AS acquired a new position in Fox Co. (NASDAQ:FOXA) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 290,200 shares of the company’s stock, valued at approximately $14,098,000.

Other institutional investors have also recently made changes to their positions in the company. SRS Capital Advisors Inc. lifted 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 valued at $27,000 after buying an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of FOX during the 4th quarter valued at $28,000. Jones Financial Companies Lllp lifted its position in shares of FOX by 61.5% during 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. Brooklyn Investment Group lifted 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 buying an additional 466 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of FOX during the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Analyst Upgrades and Downgrades

FOXA has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Loop Capital increased their price objective on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Bank of America lifted their target price on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Citigroup lifted 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. Finally, Wells Fargo & Company boosted their price objective on shares of FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $51.19.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $53.40 on Monday. The company’s fifty day moving average price is $53.06 and its 200-day moving average price is $47.58. The firm has a market capitalization of $24.21 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.27 and a beta of 0.67. Fox Co. has a one year low of $30.02 and a one year high of $58.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The firm 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%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. On average, equities research analysts anticipate that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio (DPR) is 11.56%.

Insider Activity

In other news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. 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 58,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade 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 corporate insiders.

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.