Proficio Capital Partners LLC Takes Position in Fox Co. (NASDAQ:FOXA)

Proficio Capital Partners LLC acquired a new position in Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 159,871 shares of the company’s stock, valued at approximately $7,767,000.

A number of other hedge funds have also recently modified their holdings of the business. 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in FOX during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp lifted its holdings in FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after purchasing an additional 249 shares in the last quarter. Brooklyn Investment Group increased its stake in shares of FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after purchasing an additional 466 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of FOX during the 3rd quarter valued at $51,000. Institutional investors own 52.52% of the company’s stock.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’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 transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % 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 Trading Up 2.4 %

FOXA stock opened at $52.28 on Friday. The firm’s fifty day simple moving average is $52.67 and its two-hundred day simple moving average is $47.13. The stock has a market capitalization of $23.71 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a twelve month low of $29.29 and a twelve month high of $58.74.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. As a group, analysts anticipate that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio (DPR) is 11.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and increased their price target for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. Guggenheim increased their target price on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. UBS Group boosted their price target on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Citigroup increased their price objective on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Loop Capital lifted their price objective on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.