Lecap Asset Management Ltd. Buys Shares of 12,355 Fox Co. (NASDAQ:FOXA)

Lecap Asset Management Ltd. purchased a new position in Fox Co. (NASDAQ:FOXA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,355 shares of the company’s stock, valued at approximately $600,000.

A number of other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in FOX by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after acquiring an additional 110,753 shares in the last quarter. Entropy Technologies LP bought a new stake in FOX during the third quarter worth about $546,000. Invst LLC purchased a new position in shares of FOX in the 3rd quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of FOX during the 3rd quarter valued at about $2,867,000. Finally, Park Avenue Securities LLC raised its holdings in shares of FOX by 32.4% during the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock valued at $752,000 after buying an additional 3,787 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Price Performance

Shares of FOX stock opened at $52.79 on Friday. The business has a 50 day moving average of $48.92 and a 200 day moving average of $44.09. Fox Co. has a 52 week low of $28.28 and a 52 week high of $55.56. The company has a market cap of $24.11 billion, a PE ratio of 12.91, a P/E/G ratio of 1.25 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 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 analyst estimates of $4.78 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS. As a group, equities research analysts forecast that Fox Co. will post 4.12 earnings per share for the current year.

FOX Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a yield of 1%. FOX’s payout ratio is 13.20%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FOXA. Guggenheim upped their target price on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company increased their target price on shares of FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley lifted their target price on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and upped their price target for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Finally, Bank of America lifted their price objective on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One equities research 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, FOX currently has an average rating of “Hold” and a consensus price target of $50.19.

Insider Buying and Selling at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction dated Wednesday, February 5th. The shares were 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 directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

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.