Fox Co. (NASDAQ:FOXA) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its stake in Fox Co. (NASDAQ:FOXA) by 56.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 255,773 shares of the company’s stock after buying an additional 91,846 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of FOX worth $12,425,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. raised its stake in shares of FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after purchasing an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in FOX during the 4th quarter valued at $28,000. Jones Financial Companies Lllp increased its stake in FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after buying an additional 249 shares during the period. Brooklyn Investment Group lifted its holdings in FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after buying an additional 466 shares in the last quarter. Finally, Quarry LP purchased a new position in FOX in the 3rd quarter valued at about $70,000. 52.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FOXA. The Goldman Sachs Group set a $60.00 price target on FOX and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Citigroup increased their target price on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. UBS Group increased their price objective on shares of FOX from $50.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Bank of America boosted their target price on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.56.

FOX Trading Down 1.4 %

FOX stock opened at $55.82 on Wednesday. Fox Co. has a 52-week low of $30.02 and a 52-week high of $58.74. 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 firm has a market capitalization of $25.31 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.27 and a beta of 0.67. The firm has a 50-day moving average price of $54.02 and a two-hundred day moving average price of $48.33.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. The business 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%. The business’s revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share. Sell-side analysts expect 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 was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were issued a $0.27 dividend. This represents a yield of 1%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX’s payout ratio is currently 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.