Greystone Financial Group LLC Raises Stock Position in Fox Co. (NASDAQ:FOXA)

Greystone Financial Group LLC lifted its holdings in shares of Fox Co. (NASDAQ:FOXA) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,318 shares of the company’s stock after acquiring an additional 3,997 shares during the quarter. FOX comprises approximately 1.7% of Greystone Financial Group LLC’s holdings, making the stock its 22nd biggest holding. Greystone Financial Group LLC’s holdings in FOX were worth $10,023,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FOXA. Allianz Asset Management GmbH boosted its holdings in FOX by 3,077.5% in the 4th quarter. Allianz Asset Management GmbH now owns 885,476 shares of the company’s stock worth $43,016,000 after acquiring an additional 857,609 shares during the period. Handelsbanken Fonder AB lifted its position in shares of FOX by 184.1% during the fourth quarter. Handelsbanken Fonder AB now owns 41,704 shares of the company’s stock worth $2,026,000 after purchasing an additional 27,024 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of FOX in the fourth quarter valued at $201,000. Global Retirement Partners LLC grew its holdings in FOX by 54.6% during the 4th quarter. Global Retirement Partners LLC now owns 1,918 shares of the company’s stock valued at $93,000 after purchasing an additional 677 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new stake in FOX during the 4th quarter worth $805,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Trading Down 0.7 %

NASDAQ FOXA opened at $56.95 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. Fox Co. has a one year low of $28.28 and a one year high of $58.12. The company has a 50-day simple moving average of $50.83 and a 200-day simple moving average of $45.46. The firm has a market capitalization of $25.82 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its 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. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. FOX’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, equities analysts forecast that Fox Co. will post 4.38 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 26th. Investors 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 payout ratio is currently 11.56%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group upped their price objective on shares of FOX from $50.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley increased their price target on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Guggenheim raised their price objective on FOX from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Bank of America upped their target price on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Barclays raised their price target 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.00.

Insiders Place Their Bets

In other news, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

FOX Company Profile

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.