Avantax Advisory Services Inc. Buys Shares of 6,582 Fox Co. (NASDAQ:FOXA)

Avantax Advisory Services Inc. purchased a new position in shares of Fox Co. (NASDAQ:FOXA) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 6,582 shares of the company’s stock, valued at approximately $320,000.

Other hedge funds also recently modified their holdings of the company. Jupiter Asset Management Ltd. purchased a new position in shares of FOX in the fourth quarter valued at $67,471,000. Great Lakes Advisors LLC boosted its stake in FOX by 3.0% during the fourth quarter. Great Lakes Advisors LLC now owns 1,688,515 shares of the company’s stock valued at $82,028,000 after buying an additional 49,365 shares during the period. Sequoia Financial Advisors LLC purchased a new position in FOX during the fourth quarter worth about $290,000. Daiwa Securities Group Inc. increased 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 worth $2,003,000 after acquiring an additional 10,061 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 acquiring an additional 7,287 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group set a $60.00 price objective on shares of FOX and gave the stock a “buy” rating in a report on Tuesday, February 4th. Loop Capital boosted their target price on FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. UBS Group raised their target price on shares of FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, StockNews.com cut FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. One 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.19.

FOX Stock Performance

FOX stock opened at $54.96 on Wednesday. The stock’s 50 day moving average is $53.29 and its 200 day moving average is $47.77. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $24.92 billion, a P/E ratio of 11.77, a PEG ratio of 1.27 and a beta of 0.67. Fox Co. has a twelve month low of $30.02 and a twelve month high of $58.74.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, equities research analysts predict that Fox Co. will post 4.38 earnings per share 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 yield of 1%. FOX’s dividend payout ratio is presently 11.56%.

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was 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 owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

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.