Wealthsource Partners LLC lessened its holdings in shares of Fox Co. (NASDAQ:FOXA – Get Rating) by 6.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,802 shares of the company's stock after selling 1,044 shares during the quarter. Wealthsource Partners LLC's holdings in FOX were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA purchased a new stake in FOX in the second quarter worth $40,000. Allworth Financial LP grew its stake in FOX by 179.5% in the third quarter. Allworth Financial LP now owns 1,557 shares of the company's stock worth $48,000 after purchasing an additional 1,000 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in FOX in the third quarter worth $82,000. Rosenberg Matthew Hamilton grew its stake in FOX by 15.9% in the third quarter. Rosenberg Matthew Hamilton now owns 3,088 shares of the company's stock worth $95,000 after purchasing an additional 424 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of FOX by 196.3% in the first quarter. Acadian Asset Management LLC now owns 2,717 shares of the company's stock worth $107,000 after acquiring an additional 1,800 shares during the last quarter. 55.65% of the stock is owned by hedge funds and other institutional investors.
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FOX Stock Up 1.9 %
FOXA stock opened at $32.90 on Wednesday. Fox Co. has a fifty-two week low of $28.01 and a fifty-two week high of $42.02. The business's 50-day moving average is $34.01 and its two-hundred day moving average is $32.21. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.86 and a current ratio of 3.37. The company has a market cap of $17.59 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 0.80 and a beta of 0.86.
FOX (NASDAQ:FOXA – Get Rating) last posted its earnings results on Wednesday, February 8th. The company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.02. FOX had a return on equity of 15.71% and a net margin of 10.55%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.58 billion. During the same quarter in the prior year, the company earned $0.13 earnings per share. FOX's revenue was up 3.7% on a year-over-year basis. As a group, analysts forecast that Fox Co. will post 3.49 earnings per share for the current year.
FOX Dividend Announcement
The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 1st will be paid a $0.25 dividend. This represents a dividend yield of 1.4%. The ex-dividend date is Tuesday, February 28th. FOX's dividend payout ratio (DPR) is currently 18.32%.
Insider Transactions at FOX
In other news, insider Viet D. Dinh sold 72,207 shares of the firm's stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $35.91, for a total value of $2,592,953.37. Following the transaction, the insider now owns 49,384 shares of the company's stock, valued at $1,773,379.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 19.86% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on FOXA. UBS Group cut their target price on FOX from $44.00 to $42.00 and set a "buy" rating on the stock in a research note on Monday, January 9th. Guggenheim cut their target price on FOX from $43.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, January 5th. Wolfe Research cut FOX from a "peer perform" rating to an "underperform" rating and set a $28.00 target price on the stock. in a research note on Tuesday, January 3rd. StockNews.com cut FOX from a "buy" rating to a "hold" rating in a research note on Saturday, November 26th. Finally, Macquarie cut their target price on FOX from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, FOX currently has an average rating of "Hold" and an average target price of $37.88.
About FOX
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Fox Corp. delivers news, sports and entertainment content. The company provides news under the brands FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. It operates through three segments: Cable Network Programming, Television, and Other, Corporate and Eliminations. The Cable Network Programming segment consists of the production and licensing of news and sports content distributed primarily through traditional cable television systems, direct broadcast satellite operators and telecommunication companies and online multi-channel video programming distributors.
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