Corient Private Wealth LLC Increases Stock Position in Fox Co. (NASDAQ:FOXA)

Corient Private Wealth LLC raised its holdings in shares of Fox Co. (NASDAQ:FOXA) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,546 shares of the company’s stock after purchasing an additional 497 shares during the period. Corient Private Wealth LLC’s holdings in FOX were worth $950,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Quest Partners LLC bought a new stake in FOX in the 3rd quarter worth about $51,000. Commerce Bank purchased a new stake in shares of FOX during the 3rd quarter valued at about $301,000. Cerity Partners LLC grew its stake in shares of FOX by 98.3% in the third quarter. Cerity Partners LLC now owns 34,198 shares of the company’s stock worth $1,448,000 after acquiring an additional 16,950 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of FOX by 5.1% during the third quarter. Daiwa Securities Group Inc. now owns 31,172 shares of the company’s stock valued at $1,320,000 after purchasing an additional 1,502 shares during the last quarter. Finally, Qsemble Capital Management LP bought a new position in FOX during the third quarter valued at approximately $403,000. Institutional investors own 52.52% of the company’s stock.

Insider Buying and Selling at FOX

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wells Fargo & Company cut their target price on shares of FOX from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday. Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and upped their price objective for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Guggenheim reissued a “buy” rating and issued a $60.00 target price on shares of FOX in a report on Tuesday. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Bank of America increased their price objective on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.13.

FOX Price Performance

Shares of FOX stock opened at $54.92 on Friday. The company has a market capitalization of $24.90 billion, a price-to-earnings ratio of 11.76, a PEG 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. The stock’s 50-day simple moving average is $53.55 and its 200-day simple moving average is $47.88. Fox Co. has a 52 week low of $30.02 and a 52 week 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, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the firm earned $0.34 EPS. The firm’s revenue was up 19.9% compared to the same quarter last year. As a group, analysts expect that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

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

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.