Fox Co. (NASDAQ:FOXA) Shares Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management lifted its stake in shares of Fox Co. (NASDAQ:FOXA) by 42,834.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,451 shares of the company’s stock after buying an additional 12,422 shares during the quarter. Picton Mahoney Asset Management’s holdings in FOX were worth $604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Atala Financial Inc acquired a new stake in shares of FOX during the fourth quarter worth approximately $704,000. PGGM Investments grew its position in shares of FOX by 37.3% during the fourth quarter. PGGM Investments now owns 134,706 shares of the company’s stock worth $6,544,000 after buying an additional 36,619 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of FOX by 96.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 36,915 shares of the company’s stock worth $1,803,000 after buying an additional 18,157 shares in the last quarter. Achmea Investment Management B.V. grew its position in shares of FOX by 41.2% during the fourth quarter. Achmea Investment Management B.V. now owns 370,929 shares of the company’s stock worth $18,020,000 after buying an additional 108,220 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of FOX during the fourth quarter worth approximately $320,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Price Performance

Shares of NASDAQ FOXA opened at $52.28 on Friday. Fox Co. has a fifty-two week low of $29.29 and a fifty-two week high of $58.74. The firm’s 50-day simple moving average is $52.67 and its 200 day simple moving average is $47.13. 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 has a market cap of $23.71 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share 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 business 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 business earned $0.34 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis. Equities analysts expect that Fox Co. will post 4.38 EPS 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. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio is currently 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 dated 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 sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents 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 company insiders.

Analysts Set New Price Targets

FOXA has been the subject of a number of recent analyst reports. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and raised their price target for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Barclays lifted their price objective on shares of FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. 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. JPMorgan Chase & Co. lifted their price objective on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Guggenheim lifted their price objective on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.