First Trust Advisors LP Buys 402,816 Shares of Fox Co. (NASDAQ:FOXA)

First Trust Advisors LP raised its stake in Fox Co. (NASDAQ:FOXAGet Rating) by 296.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 538,754 shares of the company’s stock after acquiring an additional 402,816 shares during the period. First Trust Advisors LP owned about 0.10% of FOX worth $16,529,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in FOX by 226.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,022 shares of the company’s stock valued at $32,000 after buying an additional 709 shares in the last quarter. Private Trust Co. NA acquired a new position in FOX in the second quarter worth $40,000. Allworth Financial LP grew its holdings in shares of FOX by 179.5% during the third quarter. Allworth Financial LP now owns 1,557 shares of the company’s stock worth $48,000 after purchasing an additional 1,000 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of FOX in the second quarter valued at $80,000. Finally, Wipfli Financial Advisors LLC bought a new position in shares of FOX in the third quarter valued at about $82,000. 55.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Viet D. Dinh sold 72,207 shares of FOX stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $35.91, for a total transaction of $2,592,953.37. Following the sale, the insider now owns 49,384 shares of the company’s stock, valued at approximately $1,773,379.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 19.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citigroup increased their price objective on shares of FOX from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of FOX from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Rosenblatt Securities upped their price objective on FOX from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, February 9th. Guggenheim reduced their price target on FOX from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, January 5th. Finally, Macquarie reduced their target price on FOX from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, January 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FOX currently has a consensus rating of “Hold” and an average price target of $37.88.

FOX Stock Down 3.6 %

Shares of NASDAQ:FOXA opened at $33.27 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.37 and a quick ratio of 2.86. The business has a 50 day simple moving average of $33.87 and a two-hundred day simple moving average of $32.29. Fox Co. has a 1 year low of $28.01 and a 1 year high of $42.02. The firm has a market capitalization of $17.78 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 0.84 and a beta of 0.86.

FOX (NASDAQ:FOXAGet Rating) last released its quarterly earnings results on Wednesday, February 8th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.58 billion. FOX had a net margin of 10.55% and a return on equity of 15.71%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. On average, equities analysts predict that Fox Co. will post 3.49 EPS for the current year.

FOX Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 1st will be given a $0.25 dividend. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, February 28th. FOX’s dividend payout ratio (DPR) is 18.32%.

FOX Company Profile

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Fox Corp. delivers news, sports and entertainment content. The company provides news under the brands FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. It operates through three segments: Cable Network Programming, Television, and Other, Corporate and Eliminations. The Cable Network Programming segment consists of the production and licensing of news and sports content distributed primarily through traditional cable television systems, direct broadcast satellite operators and telecommunication companies and online multi-channel video programming distributors.

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Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

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