Sequoia Financial Advisors LLC Buys New Holdings in Fox Co. (NASDAQ:FOXA)

Sequoia Financial Advisors LLC bought a new stake in Fox Co. (NASDAQ:FOXA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,969 shares of the company’s stock, valued at approximately $290,000.

Several other hedge funds have also bought and sold shares of the company. Daiwa Securities Group Inc. lifted its stake in FOX by 32.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 41,233 shares of the company’s stock valued at $2,003,000 after purchasing an additional 10,061 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in FOX by 10.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,156 shares of the company’s stock valued at $3,602,000 after purchasing an additional 7,287 shares during the last quarter. Ruffer LLP acquired a new stake in FOX in the 4th quarter valued at about $11,959,000. AlphaQuest LLC lifted its stake in FOX by 390.1% in the 4th quarter. AlphaQuest LLC now owns 5,901 shares of the company’s stock valued at $287,000 after purchasing an additional 4,697 shares during the last quarter. Finally, Amundi lifted its stake in FOX by 9.9% in the 4th quarter. Amundi now owns 2,434,443 shares of the company’s stock valued at $119,006,000 after purchasing an additional 219,380 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FOXA has been the subject of several research reports. UBS Group raised their price objective on shares of FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Barclays raised their price objective on shares of FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. StockNews.com downgraded shares of FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Citigroup raised their price objective on shares of FOX from $50.00 to $58.00 and gave the stock 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $51.19.

FOX Stock Performance

Shares of NASDAQ:FOXA opened at $52.94 on Thursday. The company’s 50 day simple moving average is $52.87 and its 200 day simple moving average is $47.37. The stock has a market capitalization of $24.00 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. 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 Co. has a 1 year low of $29.53 and a 1 year 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, beating analysts’ consensus estimates of $0.62 by $0.34. The business 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 firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. As a group, research analysts predict that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

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

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’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 sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

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.